Brokerages Set Lufax Holding Ltd (NYSE:LU) PT at $6.91

Shares of Lufax Holding Ltd (NYSE:LU) have been given a consensus rating of “Hold” by the six research firms that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and two have given a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $6.91.

A number of brokerages recently commented on LU. Bank of America lowered shares of Lufax from a “buy” rating to a “neutral” rating in a report on Thursday, January 25th. Morgan Stanley raised 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.

Hedge Funds Weigh In On Lufax

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

Lufax Price Performance

LU opened at $4.09 on Thursday. Lufax has a one year low of $2.11 and a one year high of $8.36. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.68 and a quick ratio of 1.59. The company’s 50 day simple moving average is $3.31 and its 200-day simple moving average is $3.35. The stock has a market capitalization of $2.34 billion, a P/E ratio of 17.78 and a beta of 0.88.

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

Lufax Cuts Dividend

The company also recently declared a — dividend, which will be paid on Tuesday, August 6th. Stockholders of record on Tuesday, June 4th will be issued 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%.

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.