Allianz Asset Management GmbH Sells 211,038 Shares of Lufax Holding Ltd. Sponsored ADR $LU

Allianz Asset Management GmbH lessened its stake in shares of Lufax Holding Ltd. Sponsored ADR (NYSE:LU) by 12.0% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,553,432 shares of the company’s stock after selling 211,038 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.18% of Lufax worth $4,334,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LU. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Lufax by 44.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,017 shares of the company’s stock worth $71,000 after purchasing an additional 7,417 shares during the last quarter. Cape Ann Asset Management Ltd bought a new stake in shares of Lufax in the first quarter worth $3,180,000. Walleye Capital LLC grew its stake in shares of Lufax by 153.2% in the first quarter. Walleye Capital LLC now owns 183,672 shares of the company’s stock worth $546,000 after purchasing an additional 111,118 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Lufax by 19.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 5,011,130 shares of the company’s stock worth $14,883,000 after purchasing an additional 805,292 shares during the last quarter. Finally, Acadian Asset Management LLC grew its stake in shares of Lufax by 163.4% in the first quarter. Acadian Asset Management LLC now owns 5,168,650 shares of the company’s stock worth $15,335,000 after purchasing an additional 3,206,645 shares during the last quarter. Institutional investors own 69.14% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Wall Street Zen raised shares of Lufax from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. Weiss Ratings reissued a “sell (d)” rating on shares of Lufax in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has a consensus rating of “Sell”.

Lufax Stock Down 0.5%

LU stock opened at $3.21 on Friday. The firm has a market cap of $2.78 billion, a price-to-earnings ratio of -4.16 and a beta of 0.76. Lufax Holding Ltd. Sponsored ADR has a 12-month low of $2.22 and a 12-month high of $4.57. The company’s fifty day simple moving average is $3.32 and its 200 day simple moving average is $2.99.

About Lufax

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.