Charles Schwab Investment Management Inc. lifted its stake in shares of Lufax Holding Ltd (NYSE:LU - Free Report) by 43.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,102,895 shares of the company's stock after purchasing an additional 936,048 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.36% of Lufax worth $10,829,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Panagora Asset Management Inc. purchased a new position in Lufax during the 2nd quarter worth approximately $26,000. SG Americas Securities LLC purchased a new position in shares of Lufax during the third quarter valued at $66,000. SIH Partners LLLP purchased a new position in shares of Lufax during the second quarter valued at $65,000. Simplicity Wealth LLC acquired a new position in Lufax during the second quarter valued at $79,000. Finally, Yeomans Consulting Group Inc. purchased a new stake in Lufax in the 2nd quarter worth about $99,000. 69.14% of the stock is owned by hedge funds and other institutional investors.
Lufax Price Performance
Shares of LU stock traded down $0.24 on Tuesday, hitting $2.68. The company's stock had a trading volume of 2,678,151 shares, compared to its average volume of 3,956,842. The stock has a market capitalization of $2.32 billion, a price-to-earnings ratio of -3.47 and a beta of 0.85. Lufax Holding Ltd has a fifty-two week low of $2.00 and a fifty-two week high of $4.94. The firm's fifty day moving average price is $2.83 and its 200-day moving average price is $2.73.
Lufax (NYSE:LU - Get Free Report) last announced its quarterly earnings results on Monday, October 21st. The company reported ($0.16) earnings per share for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.15). Lufax had a negative return on equity of 3.63% and a negative net margin of 12.75%. The company had revenue of $789.93 million during the quarter. During the same period in the prior year, the company earned $0.04 earnings per share. Analysts predict that Lufax Holding Ltd will post -0.48 EPS for the current fiscal year.
Analyst Ratings Changes
Several research firms have recently commented on LU. Jefferies Financial Group restated a "hold" rating and set a $3.20 price target on shares of Lufax in a report on Thursday, October 24th. Bank of America dropped their target price on Lufax from $5.22 to $2.75 and set a "neutral" rating on the stock in a research report on Friday, August 23rd.
View Our Latest Report on LU
Lufax Profile
(
Free Report)
Lufax Holding Ltd operates as a financial service empowering institution for small and micro businesses in China. The company offers loan products, including general unsecured loans and secured loans, as well as consumer finance loans. It also provides wealth management products, such as asset management plans, mutual fund products, private investment fund products, and trust products.
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