Asset Management One Co. Ltd. Reduces Stock Position in Lufax Holding Ltd (NYSE:LU)

Asset Management One Co. Ltd. lowered its stake in Lufax Holding Ltd (NYSE:LU) by 77.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 37,526 shares of the company’s stock after selling 126,292 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Lufax were worth $113,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. BlackRock Inc. raised its position in Lufax by 1,298.8% in the first quarter. BlackRock Inc. now owns 28,468,748 shares of the company’s stock worth $158,571,000 after acquiring an additional 26,433,557 shares during the period. Norges Bank bought a new position in Lufax in the fourth quarter worth approximately $29,422,000. State Street Corp raised its position in Lufax by 260.0% in the first quarter. State Street Corp now owns 10,097,656 shares of the company’s stock worth $56,243,000 after acquiring an additional 7,292,397 shares during the period. Marshall Wace LLP raised its position in Lufax by 68.3% in the second quarter. Marshall Wace LLP now owns 14,054,734 shares of the company’s stock worth $20,098,000 after acquiring an additional 5,705,052 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its position in Lufax by 62.5% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 12,895,263 shares of the company’s stock worth $25,017,000 after acquiring an additional 4,961,667 shares during the period. Hedge funds and other institutional investors own 69.14% of the company’s stock.

Lufax Stock Performance

Shares of NYSE LU opened at $4.14 on Monday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.59 and a current ratio of 1.68. The company has a market cap of $2.37 billion, a P/E ratio of 18.00 and a beta of 0.88. The firm’s fifty day moving average is $3.27 and its two-hundred day moving average is $3.35. Lufax Holding Ltd has a 52-week low of $2.11 and a 52-week high of $8.44.

Lufax (NYSE:LU) last announced its quarterly earnings results on Thursday, March 21st. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.18). The company had revenue of $965.76 million during the quarter, compared to the consensus estimate of $1.06 billion. Lufax had a net margin of 2.59% and a return on equity of 0.94%. As a group, analysts anticipate that Lufax Holding Ltd will post 0.3 EPS for the current fiscal year.

Lufax Cuts Dividend

The business also recently declared a — dividend, which will be paid on Tuesday, August 6th. Shareholders of record on Tuesday, June 4th will be issued a $0.156 dividend. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a yield of 5.8%. Lufax’s dividend payout ratio is currently 108.70%.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Bank of America downgraded shares of Lufax from a “buy” rating to a “neutral” rating in a research report on Thursday, January 25th. Morgan Stanley raised their price objective 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 investment analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $6.91.

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.