Lufax (NYSE:LU) Shares Gap Down to $1.93

Posted by Defense World Staff on Apr 23rd, 2023

Shares of Lufax Holding Ltd (NYSE:LU – Get Rating) gapped down before the market opened on Friday . The stock had previously closed at $1.93, but opened at $1.89. Lufax shares last traded at $1.85, with a volume of 1,311,873 shares.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on LU shares. Citigroup cut shares of Lufax from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $3.52 to $2.04 in a report on Monday, March 13th. HSBC cut their price objective on shares of Lufax from $4.00 to $3.00 and set a “buy” rating on the stock in a report on Tuesday, March 14th. Finally, Macquarie cut shares of Lufax from a “neutral” rating to an “underperform” rating and set a $1.50 price objective on the stock. in a report on Tuesday, March 14th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $2.57.

Lufax Trading Down 5.2 %

The company has a debt-to-equity ratio of 0.06, a current ratio of 1.43 and a quick ratio of 1.43. The firm has a market capitalization of $4.18 billion, a PE ratio of 3.33, a price-to-earnings-growth ratio of 1.59 and a beta of 0.56. The business’s 50-day moving average price is $2.10 and its 200-day moving average price is $2.13.

Lufax Cuts Dividend

The firm also recently announced a semi-annual dividend, which was paid on Friday, April 21st. Stockholders of record on Friday, April 7th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Wednesday, April 5th. This represents a dividend yield of 9.9%. Lufax’s dividend payout ratio (DPR) is presently 16.36%.

Hedge Funds Weigh In On Lufax

A number of hedge funds have recently modified their holdings of the business. Capital World Investors grew its position in Lufax by 6.3% in the 1st quarter. Capital World Investors now owns 56,470,472 shares of the company’s stock valued at $314,541,000 after buying an additional 3,341,655 shares during the last quarter. BlackRock Inc. grew its position in Lufax by 1,298.8% in the 1st quarter. BlackRock Inc. now owns 28,468,748 shares of the company’s stock valued at $158,571,000 after buying an additional 26,433,557 shares during the last quarter. Vanguard Group Inc. grew its position in Lufax by 1.1% in the 3rd quarter. Vanguard Group Inc. now owns 26,711,214 shares of the company’s stock valued at $67,846,000 after buying an additional 288,750 shares during the last quarter. Baillie Gifford & Co. grew its position in Lufax by 0.7% in the 4th quarter. Baillie Gifford & Co. now owns 25,442,454 shares of the company’s stock valued at $49,358,000 after buying an additional 178,613 shares during the last quarter. Finally, Norges Bank purchased a new position in Lufax in the 4th quarter valued at $29,422,000. 15.24% of the stock is currently owned by hedge funds and other institutional investors.

Lufax Company Profile

(Get Rating)

Lufax Holding Ltd operates a technology-empowered personal financial services platform in China. It offers loan products, including unsecured loans and secured loans, as well as consumer finance loans. The company 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.