Lufax (NYSE:LU) Trading 6.1% Higher

Lufax Holding Ltd (NYSE:LU) shot up 6.1% on Friday . The company traded as high as $4.94 and last traded at $4.86. 1,528,824 shares traded hands during mid-day trading, a decline of 69% from the average session volume of 4,928,403 shares. The stock had previously closed at $4.58.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on LU. Bank of America downgraded shares of Lufax from a “buy” rating to a “neutral” rating in a research note on Thursday, January 25th. Morgan Stanley raised their price target on Lufax from $3.00 to $4.80 and gave the company an “equal weight” rating in a research report on Tuesday, January 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $6.91.

Lufax Trading Up 2.2 %

The company has a quick ratio of 1.59, a current ratio of 1.70 and a debt-to-equity ratio of 0.07. The business has a 50-day moving average of $3.62 and a two-hundred day moving average of $3.37. The firm has a market capitalization of $2.68 billion, a price-to-earnings ratio of -33.43, a P/E/G ratio of 0.42 and a beta of 0.88.

Lufax (NYSE:LU) last released its quarterly earnings data on Thursday, March 21st. The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.18). The company had revenue of $965.76 million for the quarter, compared to analyst estimates of $1.06 billion. Lufax had a negative net margin of 2.17% and a negative return on equity of 0.72%. Research analysts predict that Lufax Holding Ltd will post 0.3 EPS for the current fiscal year.

Lufax Cuts Dividend

The business also recently disclosed a — dividend, which will be paid on Tuesday, August 6th. Shareholders of record on Tuesday, June 4th will be issued a dividend of $0.156 per share. This represents a yield of 5.8%. The ex-dividend date is Tuesday, June 4th. Lufax’s payout ratio is -178.56%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of LU. Van ECK Associates Corp raised its position in Lufax by 70.4% in the 3rd quarter. Van ECK Associates Corp now owns 45,030 shares of the company’s stock worth $48,000 after purchasing an additional 18,609 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its position in Lufax by 141.5% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 70,732 shares of the company’s stock worth $75,000 after purchasing an additional 41,449 shares during the last quarter. PFG Investments LLC acquired a new stake in Lufax during the 1st quarter worth $76,000. Diversified Trust Co acquired a new stake in Lufax during the 1st quarter worth $92,000. Finally, DGS Capital Management LLC acquired a new stake in Lufax during the 1st quarter worth $111,000. Institutional investors own 69.14% of the company’s stock.

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.