Shares of Lufax Holding Ltd (NYSE:LU - Get Free Report) were up 4.2% during trading on Friday . The stock traded as high as $2.78 and last traded at $2.75. Approximately 1,728,809 shares changed hands during mid-day trading, a decline of 56% from the average daily volume of 3,942,341 shares. The stock had previously closed at $2.64.
Wall Street Analyst Weigh In
LU has been the subject of several analyst reports. Bank of America dropped their price objective on shares of Lufax from $5.22 to $2.75 and set a "neutral" rating for the company in a research note on Friday, August 23rd. Jefferies Financial Group reiterated a "hold" rating and issued a $3.20 price target on shares of Lufax in a research report on Thursday, October 24th.
Get Our Latest Stock Analysis on LU
Lufax Stock Up 3.0 %
The stock has a 50 day moving average of $2.73 and a 200 day moving average of $2.70. The firm has a market cap of $2.36 billion, a price-to-earnings ratio of -3.53 and a beta of 0.85.
Lufax (NYSE:LU - Get Free Report) last issued its earnings results on Monday, October 21st. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.15). The firm had revenue of $789.93 million during the quarter. Lufax had a negative net margin of 12.75% and a negative return on equity of 3.63%. During the same period in the previous year, the firm earned $0.04 EPS. As a group, analysts predict that Lufax Holding Ltd will post -0.48 EPS for the current fiscal year.
Institutional Trading of Lufax
Institutional investors and hedge funds have recently modified their holdings of the business. Franklin Resources Inc. increased its position in Lufax by 14.8% during the 3rd quarter. Franklin Resources Inc. now owns 65,584 shares of the company's stock worth $226,000 after purchasing an additional 8,446 shares in the last quarter. Soltis Investment Advisors LLC acquired a new position in shares of Lufax during the third quarter worth $52,000. Geode Capital Management LLC lifted its stake in shares of Lufax by 35.7% in the 3rd quarter. Geode Capital Management LLC now owns 123,616 shares of the company's stock valued at $431,000 after acquiring an additional 32,536 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of Lufax in the 3rd quarter valued at $1,479,000. Finally, EWA LLC acquired a new stake in shares of Lufax during the 3rd quarter valued at $45,000. 69.14% of the stock is currently owned by institutional investors.
About Lufax
(
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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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