Bank of New York Mellon Corp Trims Position in Nu Holdings Ltd. $NU

Bank of New York Mellon Corp decreased its holdings in shares of Nu Holdings Ltd. (NYSE:NU) by 9.8% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,247,760 shares of the company’s stock after selling 897,932 shares during the quarter. Bank of New York Mellon Corp owned about 0.17% of NU worth $113,159,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Armstrong Advisory Group Inc. acquired a new stake in NU in the 2nd quarter worth about $27,000. Capital Analysts LLC acquired a new position in shares of NU during the 1st quarter valued at about $31,000. ORG Partners LLC lifted its holdings 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 acquiring an additional 1,920 shares during the period. Quaker Wealth Management LLC boosted its position in shares of NU by 212.7% in the second quarter. Quaker Wealth Management LLC now owns 2,300 shares of the company’s stock worth $32,000 after acquiring an additional 4,341 shares during the last quarter. Finally, Banque Transatlantique SA acquired a new stake in shares of NU in the first quarter worth approximately $34,000. 84.02% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NU has been the subject of several research analyst reports. Itau BBA Securities raised shares of NU from a “market perform” rating to an “outperform” rating and set a $18.00 price target for the company in a research report on Monday, August 18th. Weiss Ratings restated a “hold (c)” rating on shares of NU in a report on Wednesday, October 8th. Bank of America lifted their target price on NU from $14.00 to $16.00 and gave the company a “neutral” rating in a report on Monday, August 25th. Susquehanna boosted their price target on NU from $15.00 to $17.00 and gave the company a “positive” rating in a research report on Wednesday, August 27th. Finally, JPMorgan Chase & Co. raised their price objective on NU from $16.00 to $17.00 and gave the stock an “overweight” rating in a report on Friday, September 5th. Nine investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $17.10.

NU Stock Performance

NU stock opened at $15.85 on Friday. The firm has a market capitalization of $76.38 billion, a PE ratio of 34.46, a price-to-earnings-growth ratio of 0.82 and a beta of 1.08. Nu Holdings Ltd. has a one year low of $9.01 and a one year high of $16.50. The stock’s 50 day moving average price is $15.56 and its 200 day moving average price is $13.72. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.57 and a current ratio of 0.57.

NU (NYSE:NU) last announced its earnings results on Thursday, August 14th. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.02. The business had revenue of $3.70 billion for the quarter, compared to analyst estimates of $3.78 billion. NU had a return on equity of 29.91% and a net margin of 17.90%.During the same period in the previous year, the company earned $0.12 earnings per share. As a group, sell-side analysts expect that Nu Holdings Ltd. will post 0.58 EPS for the current fiscal 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.