KBC Group NV Buys 902,306 Shares of Nu Holdings Ltd. $NU

KBC Group NV boosted its stake in shares of Nu Holdings Ltd. (NYSE:NU) by 86.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,943,921 shares of the company’s stock after purchasing an additional 902,306 shares during the period. KBC Group NV’s holdings in NU were worth $27,934,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Baillie Gifford & Co. raised its holdings in shares of NU by 2.3% in the 4th quarter. Baillie Gifford & Co. now owns 257,256,952 shares of the company’s stock valued at $4,306,481,000 after purchasing an additional 5,797,365 shares during the period. Morgan Stanley increased its holdings in shares of NU by 2.9% during the 4th quarter. Morgan Stanley now owns 121,350,701 shares of the company’s stock worth $2,031,411,000 after acquiring an additional 3,419,077 shares during the last quarter. State Street Corp increased its holdings in shares of NU by 0.3% during the 3rd quarter. State Street Corp now owns 91,478,395 shares of the company’s stock worth $1,464,569,000 after acquiring an additional 239,660 shares during the last quarter. Norges Bank bought a new stake in NU in the 4th quarter valued at $763,792,000. Finally, Price T Rowe Associates Inc. MD raised its stake in NU by 11.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 42,602,086 shares of the company’s stock valued at $713,160,000 after acquiring an additional 4,215,824 shares during the period. Institutional investors own 84.02% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on NU. Weiss Ratings cut shares of NU from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, May 13th. Susquehanna lowered shares of NU from a “positive” rating to a “neutral” rating and dropped their price objective for the company from $18.00 to $13.00 in a research report on Wednesday, June 3rd. JPMorgan Chase & Co. upped their price target on shares of NU from $18.00 to $20.00 and gave the company an “overweight” rating in a research note on Tuesday, July 7th. CICC Research initiated coverage on NU in a report on Tuesday, April 14th. They set an “outperform” rating and a $18.00 price objective for the company. Finally, Zacks Research downgraded NU from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 24th. Ten research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $17.24.

Insider Buying and Selling at NU

In other NU news, Director Anita M. Sands sold 21,000 shares of the stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $12.24, for a total transaction of $257,040.00. Following the sale, the director directly owned 162,150 shares in the company, valued at $1,984,716. This represents a 11.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

NU Stock Performance

Shares of NYSE:NU opened at $14.38 on Wednesday. Nu Holdings Ltd. has a 12-month low of $11.20 and a 12-month high of $18.98. The company’s 50 day moving average price is $12.92 and its two-hundred day moving average price is $14.73. The firm has a market cap of $69.85 billion, a PE ratio of 22.13, a PEG ratio of 0.56 and a beta of 0.95. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.36.

NU (NYSE:NU) last issued its quarterly earnings results on Friday, May 15th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.01). The company had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $5.06 billion. NU had a net margin of 18.20% and a return on equity of 30.91%. Equities research analysts predict that Nu Holdings Ltd. will post 0.83 earnings per share for the current year.

NU announced that its board has authorized a stock repurchase program on Thursday, June 4th that allows the company to buyback $0.00 in shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its shares are undervalued.

About NU

Nu Holdings Ltd (NYSE: NU), commonly known by its consumer brand Nubank, is a Latin American financial technology company that provides digital banking and financial services through a mobile-first platform. The company’s core offerings include no-fee digital checking accounts, credit cards, personal loans, payments and transfers, and a range of savings and investment products. Nubank emphasizes a streamlined customer experience delivered via its smartphone app, combined with data-driven underwriting and automated customer service tools.

Founded in 2013 by David Vélez, Cristina Junqueira and Edward Wible, Nu grew rapidly by targeting underbanked and digitally savvy consumers in Latin America with low-fee, transparent products.