Lufax (NYSE:LU) Shares Gap Down to $4.39

Lufax Holding Ltd (NYSE:LU)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $4.39, but opened at $4.16. Lufax shares last traded at $4.25, with a volume of 869,596 shares.

Analyst Upgrades and Downgrades

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

Lufax Price Performance

The company has a market capitalization of $2.50 billion, a PE ratio of 18.96 and a beta of 0.88. 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 firm’s 50-day moving average is $3.49 and its 200-day moving average is $3.35.

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

Lufax Cuts Dividend

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

Institutional Investors Weigh In On Lufax

A number of hedge funds have recently made changes to their positions in the business. Lansdowne Partners UK LLP purchased a new position in Lufax in the 3rd quarter worth $2,138,000. Citigroup Inc. grew its stake in shares of Lufax by 207.8% during the third quarter. Citigroup Inc. now owns 567,150 shares of the company’s stock valued at $601,000 after buying an additional 382,884 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Lufax by 25.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,242,221 shares of the company’s stock worth $4,497,000 after buying an additional 862,120 shares during the period. O Shaughnessy Asset Management LLC lifted its stake in shares of Lufax by 663.4% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 125,846 shares of the company’s stock valued at $133,000 after acquiring an additional 109,362 shares during the last quarter. Finally, Caxton Associates LP grew its position in Lufax by 2,850.6% during the 3rd quarter. Caxton Associates LP now owns 1,307,044 shares of the company’s stock worth $1,385,000 after acquiring an additional 1,262,746 shares during the last quarter. 69.14% of the stock is currently owned by institutional investors.

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.