Lufax (NYSE:LU) Stock Price Up 5.7%

Lufax Holding Ltd (NYSE:LUGet Free Report) shares rose 5.7% on Monday . The stock traded as high as $4.49 and last traded at $4.46. Approximately 627,617 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 5,554,081 shares. The stock had previously closed at $4.22.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Bank of America lowered shares of Lufax from a “buy” rating to a “neutral” rating in a research report on Thursday, January 25th. Morgan Stanley lifted their price target on Lufax from $3.00 to $4.80 and gave the stock an “equal weight” rating in a research report on Tuesday, January 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Lufax has a consensus rating of “Hold” and an average price target of $6.91.

Read Our Latest Research Report on Lufax

Lufax Price Performance

The stock’s 50-day moving average is $2.97 and its two-hundred day moving average is $3.36. The company has a market capitalization of $2.58 billion, a PE ratio of 19.61 and a beta of 0.88. The company has a current ratio of 1.68, a quick ratio of 1.59 and a debt-to-equity ratio of 0.06.

Lufax Cuts Dividend

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

Hedge Funds Weigh In On Lufax

A number of large investors have recently bought and sold shares of LU. Capital World Investors grew its stake in Lufax by 6.3% in the 1st quarter. Capital World Investors now owns 56,470,472 shares of the company’s stock worth $314,541,000 after acquiring an additional 3,341,655 shares in the last quarter. BlackRock Inc. grew its stake 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 purchasing an additional 26,433,557 shares in the last quarter. Vanguard Group Inc. increased its holdings in Lufax by 1.1% during the 3rd quarter. Vanguard Group Inc. now owns 26,711,214 shares of the company’s stock worth $67,846,000 after purchasing an additional 288,750 shares during the period. Baillie Gifford & Co. raised its position in Lufax by 0.7% during the 4th quarter. Baillie Gifford & Co. now owns 25,442,454 shares of the company’s stock valued at $49,358,000 after purchasing an additional 178,613 shares in the last quarter. Finally, Bamco Inc. NY lifted its holdings in shares of Lufax by 22.1% in the 3rd quarter. Bamco Inc. NY now owns 18,416,696 shares of the company’s stock worth $19,522,000 after buying an additional 3,330,411 shares during the period. Hedge funds and other institutional investors own 69.14% of the company’s stock.

Lufax Company Profile

(Get Free Report)

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.

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