PNC Financial Services Group Inc. Increases Stake in Nu Holdings Ltd. $NU

PNC Financial Services Group Inc. raised its position in shares of Nu Holdings Ltd. (NYSE:NU) by 8.8% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 186,921 shares of the company’s stock after purchasing an additional 15,087 shares during the quarter. PNC Financial Services Group Inc.’s holdings in NU were worth $2,565,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Baillie Gifford & Co. boosted its position in shares of NU by 17.9% during the first quarter. Baillie Gifford & Co. now owns 265,160,474 shares of the company’s stock valued at $2,715,243,000 after buying an additional 40,181,132 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of NU by 24.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 54,435,568 shares of the company’s stock valued at $557,422,000 after purchasing an additional 10,785,851 shares during the last quarter. Jennison Associates LLC lifted its position in NU by 38.1% during the second quarter. Jennison Associates LLC now owns 41,962,679 shares of the company’s stock valued at $575,728,000 after purchasing an additional 11,567,865 shares during the period. Kontiki Capital Management HK Ltd. boosted its holdings in NU by 54.3% in the first quarter. Kontiki Capital Management HK Ltd. now owns 32,575,725 shares of the company’s stock worth $333,575,000 after purchasing an additional 11,465,700 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in shares of NU by 9.3% in the 1st quarter. Northern Trust Corp now owns 27,869,591 shares of the company’s stock worth $285,385,000 after buying an additional 2,373,500 shares during the last quarter. 84.02% of the stock is owned by institutional investors.

NU Stock Performance

NU opened at $15.32 on Wednesday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.57 and a current ratio of 0.56. The stock has a market capitalization of $73.80 billion, a price-to-earnings ratio of 30.03, a PEG ratio of 0.80 and a beta of 1.08. The company has a fifty day moving average of $15.68 and a 200 day moving average of $13.93. Nu Holdings Ltd. has a fifty-two week low of $9.01 and a fifty-two week high of $16.55.

NU (NYSE:NU) last released its quarterly earnings results on Thursday, November 13th. The company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.02. The business had revenue of $4.17 billion during the quarter, compared to analysts’ expectations of $3.96 billion. NU had a return on equity of 30.12% and a net margin of 17.97%. As a group, sell-side analysts forecast that Nu Holdings Ltd. will post 0.58 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently commented on NU. KeyCorp upped their price objective on NU from $15.00 to $19.00 and gave the company an “overweight” rating in a research report on Friday, November 14th. Bradesco Corretora raised NU to an “outperform” rating and set a $17.00 price objective on the stock in a research note on Monday, August 25th. Susquehanna lifted their price objective on NU from $17.00 to $19.00 and gave the company a “positive” rating in a research report on Friday, November 14th. Citigroup raised shares of NU from a “sell” rating to a “buy” rating and increased their target price for the stock from $9.00 to $18.00 in a report on Wednesday, August 20th. Finally, Itau BBA Securities upgraded shares of NU from a “market perform” rating to an “outperform” rating and set a $18.00 price objective on the stock in a research report on Monday, August 18th. Eight equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $17.33.

NU Company Profile

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.