Lufax (NYSE:LU) Sees Strong Trading Volume

Lufax Holding Ltd (NYSE:LU) shares saw unusually-strong trading volume on Thursday . Approximately 12,752,543 shares were traded during mid-day trading, an increase of 1% from the previous session’s volume of 12,685,339 shares.The stock last traded at $0.89 and had previously closed at $1.00.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on LU shares. The Goldman Sachs Group dropped their price objective on shares of Lufax from $1.90 to $1.70 and set a “neutral” rating for the company in a research note on Wednesday, August 23rd. CLSA dropped their target price on shares of Lufax from $2.70 to $1.40 in a research report on Friday, September 1st. Finally, UBS Group cut shares of Lufax from a “neutral” rating to a “sell” rating and dropped their target price for the company from $1.60 to $1.00 in a research report on Thursday, August 24th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Lufax presently has a consensus rating of “Hold” and a consensus target price of $1.72.

Lufax Stock Down 1.5 %

The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.61 and a current ratio of 1.59. The stock has a market capitalization of $2.08 billion, a P/E ratio of 15.10, a price-to-earnings-growth ratio of 1.38 and a beta of 0.82. The stock’s fifty day simple moving average is $1.04 and its two-hundred day simple moving average is $1.34.

Lufax (NYSE:LU) last posted its earnings results on Monday, August 21st. The company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.01. Lufax had a net margin of 2.23% and a return on equity of 0.93%. The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.54 billion. As a group, research analysts expect that Lufax Holding Ltd will post 0.17 EPS for the current fiscal year.

Lufax Cuts Dividend

The firm also recently announced a Semi-Annual dividend, which was paid on Monday, October 30th. Investors of record on Thursday, October 12th were paid a dividend of $0.039 per share. The ex-dividend date of this dividend was Wednesday, October 11th. This represents a yield of 6.2%. Lufax’s dividend payout ratio is currently 100.02%.

Institutional Trading of Lufax

Several large investors have recently modified their holdings of the stock. Lansdowne Partners UK LLP bought a new stake in Lufax in the third quarter valued at $2,138,000. Caxton Associates LP grew its holdings in shares of Lufax by 2,850.6% during the third quarter. Caxton Associates LP now owns 1,307,044 shares of the company’s stock valued at $1,385,000 after buying an additional 1,262,746 shares during the last quarter. California State Teachers Retirement System acquired a new position in shares of Lufax during the third quarter valued at about $208,000. Tower Research Capital LLC TRC acquired a new position in shares of Lufax during the third quarter valued at about $89,000. Finally, Bamco Inc. NY grew its holdings in shares of Lufax by 22.1% during the third quarter. Bamco Inc. NY now owns 18,416,696 shares of the company’s stock valued at $19,522,000 after buying an additional 3,330,411 shares during the last quarter. Institutional investors and hedge funds own 17.40% of the company’s stock.

About Lufax

Lufax Holding Ltd operates a technology-empowered personal financial services platform in China. The company offers loan products, including unsecured loans and secured loans, as well as consumer finance loans. It also provides wealth management platforms, such as Lufax (Lu.com), Lu International (Singapore), and Lu International (Hong Kong) to the middle class and affluent investors to invest in products and portfolios; retail credit facilitation services platform that offers small business owners with lending solutions; and technology empowerment solutions for financial institutions.