Lufax (NYSE:LU) Lowered to Sell Rating by Deutsche Bank Aktiengesellschaft

Lufax (NYSE:LU) was downgraded by equities researchers at Deutsche Bank Aktiengesellschaft from a “hold” rating to a “sell” rating in a report issued on Tuesday,Briefing.com Automated Import reports.

Lufax Price Performance

Shares of LU opened at $2.95 on Tuesday. The firm has a market cap of $2.56 billion, a P/E ratio of -3.83 and a beta of 0.71. Lufax has a 1 year low of $2.00 and a 1 year high of $4.83. The stock has a 50 day simple moving average of $2.87 and a two-hundred day simple moving average of $2.68.

Institutional Investors Weigh In On Lufax

Several hedge funds have recently bought and sold shares of the business. Catalyst Funds Management Pty Ltd raised its holdings in shares of Lufax by 999.0% during the fourth quarter. Catalyst Funds Management Pty Ltd now owns 888,000 shares of the company’s stock valued at $2,122,000 after purchasing an additional 807,200 shares during the last quarter. Norges Bank bought a new stake in shares of Lufax in the fourth quarter worth about $4,221,000. JPMorgan Chase & Co. increased its stake in Lufax by 27.5% during the third quarter. JPMorgan Chase & Co. now owns 63,235 shares of the company’s stock worth $221,000 after acquiring an additional 13,630 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Lufax by 35.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,205,838 shares of the company’s stock worth $10,052,000 after acquiring an additional 1,102,943 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Lufax by 35.7% during the third quarter. Geode Capital Management LLC now owns 123,616 shares of the company’s stock valued at $431,000 after buying an additional 32,536 shares during the period. Institutional investors own 69.14% of the company’s stock.

Lufax Company Profile

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.