Lufax (NYSE:LU) Trading Up 3.3%

Lufax Holding Ltd (NYSE:LU)’s stock price shot up 3.3% on Thursday . The stock traded as high as $4.39 and last traded at $4.39. 191,685 shares traded hands during mid-day trading, a decline of 96% from the average session volume of 5,269,351 shares. The stock had previously closed at $4.25.

Wall Street Analyst Weigh In

LU has been the subject of several research reports. Bank of America cut shares of Lufax from a “buy” rating to a “neutral” rating in a research note on Thursday, January 25th. Morgan Stanley boosted their target price on shares of Lufax from $3.00 to $4.80 and gave the company an “equal weight” rating in a research report on Tuesday, January 2nd. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Lufax currently has a consensus rating of “Hold” and a consensus target price of $6.91.

Lufax Trading Down 3.7 %

The company has a quick ratio of 1.59, a current ratio of 1.68 and a debt-to-equity ratio of 0.06. The company’s 50-day moving average is $3.27 and its 200 day moving average is $3.37. The company has a market cap of $2.37 billion, a price-to-earnings ratio of 18.00 and a beta of 0.88.

Lufax Cuts Dividend

The firm also recently announced a — dividend, which will be paid on Tuesday, August 6th. Stockholders of record on Tuesday, June 4th will be given a dividend of $0.156 per share. This represents a dividend yield of 5.8%. The ex-dividend date is Tuesday, June 4th. Lufax’s dividend payout ratio (DPR) is presently 108.70%.

Hedge Funds Weigh In On Lufax

Large investors have recently bought and sold shares of the business. Moneta Group Investment Advisors LLC acquired a new position in Lufax during the first quarter worth $25,000. PNC Financial Services Group Inc. raised its position in shares of Lufax by 1,344.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,693 shares of the company’s stock worth $31,000 after purchasing an additional 5,299 shares during the last quarter. Mackenzie Financial Corp purchased a new position in Lufax in the 4th quarter valued at about $31,000. Comerica Bank purchased a new position in Lufax in the 4th quarter valued at about $37,000. Finally, Cerity Partners LLC boosted its holdings in Lufax by 148.8% in the 2nd quarter. Cerity Partners LLC now owns 26,956 shares of the company’s stock worth $39,000 after buying an additional 16,123 shares during the last quarter. Institutional investors and hedge funds own 69.14% of the company’s stock.

Lufax Company Profile

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.