Principal Financial Group Inc. Sells 886,031 Shares of Nu Holdings Ltd. (NYSE:NU)

Principal Financial Group Inc. decreased its position in shares of Nu Holdings Ltd. (NYSE:NU - Free Report) by 76.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 267,433 shares of the company's stock after selling 886,031 shares during the period. Principal Financial Group Inc.'s holdings in NU were worth $2,771,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Fisher Asset Management LLC acquired a new position in NU during the 3rd quarter worth $98,704,000. Thrivent Financial for Lutherans increased its holdings in shares of NU by 23.2% during the 3rd quarter. Thrivent Financial for Lutherans now owns 257,648 shares of the company's stock worth $3,517,000 after purchasing an additional 48,445 shares during the period. Adero Partners LLC increased its holdings in shares of NU by 5.7% during the 3rd quarter. Adero Partners LLC now owns 4,819,355 shares of the company's stock worth $65,784,000 after purchasing an additional 259,324 shares during the period. Summit Partners Public Asset Management LLC increased its holdings in shares of NU by 20.0% during the 3rd quarter. Summit Partners Public Asset Management LLC now owns 300,000 shares of the company's stock worth $4,095,000 after purchasing an additional 50,000 shares during the period. Finally, Baader Bank Aktiengesellschaft increased its holdings in shares of NU by 19.6% during the 4th quarter. Baader Bank Aktiengesellschaft now owns 355,332 shares of the company's stock worth $3,680,000 after purchasing an additional 58,183 shares during the period. Institutional investors and hedge funds own 84.02% of the company's stock.

NU Trading Up 3.6 %

NYSE:NU traded up $0.38 during trading hours on Wednesday, hitting $10.84. The stock had a trading volume of 76,107,817 shares, compared to its average volume of 48,446,691. Nu Holdings Ltd. has a one year low of $9.67 and a one year high of $16.15. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.44 and a current ratio of 0.44. The company has a market cap of $51.64 billion, a price-to-earnings ratio of 27.09, a P/E/G ratio of 0.48 and a beta of 1.10. The business's 50 day moving average is $11.96 and its 200-day moving average is $13.14.

NU (NYSE:NU - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.12 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.12. NU had a net margin of 17.12% and a return on equity of 30.99%. The company had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $3.17 billion. Sell-side analysts anticipate that Nu Holdings Ltd. will post 0.58 EPS for the current fiscal year.

Wall Street Analyst Weigh In

NU has been the topic of several research reports. UBS Group dropped their price objective on shares of NU from $15.50 to $15.00 and set a "neutral" rating on the stock in a report on Tuesday, February 18th. Barclays reduced their price target on shares of NU from $17.00 to $15.00 and set an "overweight" rating on the stock in a research report on Monday, February 24th. JPMorgan Chase & Co. reduced their target price on shares of NU from $15.00 to $14.00 and set a "neutral" rating on the stock in a research report on Monday, February 24th. The Goldman Sachs Group increased their price objective on shares of NU from $17.00 to $19.00 and gave the company a "buy" rating in a report on Thursday, November 14th. Finally, Citigroup lowered shares of NU from a "neutral" rating to a "sell" rating and cut their price objective for the company from $14.60 to $11.00 in a report on Monday, December 2nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, NU presently has an average rating of "Hold" and an average target price of $15.47.

NU Profile

Nu Holdings Ltd. is a holding company, which engages in the provision of digital banking services. The company was founded by David Vélez Osorno, Cristina Helena Zingaretti Junqueira, and Adam Edward Wible on February 26, 2016 and is headquartered in George Town, Cayman Islands.