CANADA LIFE ASSURANCE Co Increases Stock Position in Futu Holdings Limited (NASDAQ:FUTU)

CANADA LIFE ASSURANCE Co increased its position in Futu Holdings Limited (NASDAQ:FUTU) by 50.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 66,117 shares of the company’s stock after buying an additional 22,211 shares during the quarter. CANADA LIFE ASSURANCE Co’s holdings in Futu were worth $5,286,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Arrowstreet Capital Limited Partnership acquired a new stake in Futu during the fourth quarter worth about $116,315,000. Norges Bank purchased a new stake in shares of Futu during the 4th quarter worth about $39,163,000. Candriam S.C.A. acquired a new stake in Futu during the 4th quarter worth approximately $28,004,000. William Blair Investment Management LLC raised its holdings in Futu by 1,325.6% in the fourth quarter. William Blair Investment Management LLC now owns 285,120 shares of the company’s stock valued at $22,806,000 after buying an additional 265,120 shares during the period. Finally, SG Americas Securities LLC lifted its position in Futu by 236.6% during the fourth quarter. SG Americas Securities LLC now owns 374,193 shares of the company’s stock valued at $29,932,000 after buying an additional 263,040 shares in the last quarter.

Futu Stock Up 3.5 %

FUTU opened at $88.31 on Thursday. The firm has a market capitalization of $12.17 billion, a P/E ratio of 21.65, a P/E/G ratio of 0.79 and a beta of 0.67. The firm’s 50 day moving average is $101.43 and its 200-day moving average is $95.16. Futu Holdings Limited has a 52-week low of $51.80 and a 52-week high of $130.88.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on FUTU. JPMorgan Chase & Co. increased their price objective on shares of Futu from $160.00 to $170.00 and gave the stock an “overweight” rating in a research report on Friday, March 14th. UBS Group increased their price target on Futu from $130.00 to $136.00 and gave the company a “buy” rating in a report on Monday, March 17th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Futu presently has an average rating of “Moderate Buy” and an average price target of $121.20.

Futu Company Profile

Futu Holdings Limited provides digitalized securities brokerage and wealth management product distribution service in Hong Kong and internationally. It offers online financial services, including securities and derivative trades brokerage, margin financing and fund distribution services through its Futubull and Moomoo digital platforms.