Lufax (NYSE:LU) Shares Gap Down to $4.39

Lufax Holding Ltd (NYSE:LU)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $4.39, but opened at $4.16. Lufax shares last traded at $4.25, with a volume of 869,596 shares changing hands.

Analyst Upgrades and Downgrades

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

Lufax Stock Performance

The firm has a market capitalization of $2.61 billion, a PE ratio of -32.50 and a beta of 0.88. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.68 and a quick ratio of 1.59. The stock has a 50-day moving average price of $3.58 and a 200-day moving average price of $3.36.

Lufax (NYSE:LU) last announced its earnings results on Thursday, March 21st. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.18). The business had revenue of $965.76 million for the quarter, compared to analysts’ expectations of $1.06 billion. Lufax had a negative return on equity of 0.71% and a negative net margin of 2.17%. On average, research analysts expect that Lufax Holding Ltd will post 0.3 EPS for the current fiscal year.

Lufax Cuts Dividend

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

Institutional Trading of Lufax

Several hedge funds and other institutional investors have recently bought and sold shares of the company. PFG Investments LLC bought a new stake in Lufax in the first quarter valued at about $76,000. Diversified Trust Co acquired a new position in Lufax in the first quarter valued at approximately $92,000. DGS Capital Management LLC acquired a new position in Lufax in the first quarter valued at approximately $111,000. Nomura Holdings Inc. boosted its stake in Lufax by 2,280.1% in the fourth quarter. Nomura Holdings Inc. now owns 883,009 shares of the company’s stock valued at $2,711,000 after acquiring an additional 845,909 shares during the period. Finally, Virtu Financial LLC boosted its stake in Lufax by 938.0% in the fourth quarter. Virtu Financial LLC now owns 189,121 shares of the company’s stock valued at $581,000 after acquiring an additional 170,902 shares during the period. 69.14% of the stock is owned by institutional investors.

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.