Allianz Asset Management GmbH Takes Position in Nu Holdings Ltd. $NU

Allianz Asset Management GmbH acquired a new position in shares of Nu Holdings Ltd. (NYSE:NU) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 186,735 shares of the company’s stock, valued at approximately $2,562,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Armstrong Advisory Group Inc. bought a new stake in shares of NU during the 2nd quarter worth $27,000. Capital Analysts LLC bought a new stake in shares of NU during the 1st quarter worth $31,000. TFC Financial Management Inc. lifted its position in shares of NU by 74.1% during the 1st quarter. TFC Financial Management Inc. now owns 3,114 shares of the company’s stock worth $32,000 after buying an additional 1,325 shares during the last quarter. ORG Partners LLC lifted its position in shares of NU by 474.1% during the 2nd quarter. ORG Partners LLC now owns 2,325 shares of the company’s stock worth $32,000 after buying an additional 1,920 shares during the last quarter. Finally, Banque Transatlantique SA bought a new stake in shares of NU during the 1st quarter worth $34,000. 84.02% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on NU. Weiss Ratings restated a “hold (c)” rating on shares of NU in a research report on Wednesday, October 8th. Citigroup upgraded NU from a “sell” rating to a “buy” rating and upped their price objective for the stock from $9.00 to $18.00 in a research report on Wednesday, August 20th. Itau BBA Securities upgraded NU from a “market perform” rating to an “outperform” rating and set a $18.00 target price for the company in a research report on Monday, August 18th. Bank of America increased their target price on NU from $14.00 to $16.00 and gave the company a “neutral” rating in a research report on Monday, August 25th. Finally, Santander upgraded NU to a “neutral” rating in a research report on Monday, August 25th. Nine analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $17.10.

NU Trading Down 0.3%

Shares of NU stock opened at $15.86 on Friday. The stock has a market cap of $76.40 billion, a price-to-earnings ratio of 34.47, a PEG ratio of 0.83 and a beta of 1.08. The stock has a 50-day moving average of $15.17 and a 200-day moving average of $13.33. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.24. Nu Holdings Ltd. has a 1-year low of $9.01 and a 1-year high of $16.42.

NU (NYSE:NU) last issued its quarterly earnings results on Thursday, August 14th. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.02. The company had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $3.78 billion. NU had a return on equity of 29.91% and a net margin of 17.90%.During the same quarter in the prior year, the firm posted $0.12 earnings per share. On average, equities research analysts forecast that Nu Holdings Ltd. will post 0.58 earnings per share for the current year.

About NU

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.