Nu Holdings Ltd. (NYSE:NU) Shares Bought by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company increased its stake in Nu Holdings Ltd. (NYSE:NU) by 9.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 314,189 shares of the company’s stock after purchasing an additional 27,662 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in NU were worth $4,050,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NU. Capital Research Global Investors raised its holdings in NU by 15.7% during the 1st quarter. Capital Research Global Investors now owns 202,618,338 shares of the company’s stock worth $2,417,237,000 after buying an additional 27,420,994 shares during the period. Baillie Gifford & Co. boosted its position in NU by 9.7% during the second quarter. Baillie Gifford & Co. now owns 185,963,035 shares of the company’s stock worth $2,397,064,000 after purchasing an additional 16,512,911 shares during the period. Jennison Associates LLC boosted its position in NU by 32.4% during the first quarter. Jennison Associates LLC now owns 87,155,886 shares of the company’s stock worth $1,039,770,000 after purchasing an additional 21,342,814 shares during the period. Coatue Management LLC boosted its position in NU by 14.3% during the fourth quarter. Coatue Management LLC now owns 63,021,947 shares of the company’s stock worth $524,973,000 after purchasing an additional 7,886,538 shares during the period. Finally, FIL Ltd boosted its position in NU by 0.6% during the fourth quarter. FIL Ltd now owns 41,784,172 shares of the company’s stock worth $348,062,000 after purchasing an additional 253,915 shares during the period. 80.90% of the stock is currently owned by institutional investors.

NU Stock Performance

NU stock opened at $13.15 on Tuesday. The stock has a fifty day moving average price of $13.66 and a two-hundred day moving average price of $12.56. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.49 and a quick ratio of 0.49. The firm has a market capitalization of $62.65 billion, a P/E ratio of 50.58, a P/E/G ratio of 0.67 and a beta of 1.15. Nu Holdings Ltd. has a 52-week low of $7.20 and a 52-week high of $15.16.

NU (NYSE:NU) last announced its earnings results on Tuesday, August 13th. The company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.10 by $0.02. The company had revenue of $2.85 billion for the quarter, compared to analysts’ expectations of $2.90 billion. NU had a return on equity of 27.00% and a net margin of 15.11%. During the same quarter in the prior year, the business earned $0.05 earnings per share. As a group, analysts anticipate that Nu Holdings Ltd. will post 0.41 EPS for the current fiscal year.

Wall Street Analyst Weigh In

NU has been the subject of several research reports. UBS Group cut NU from a “buy” rating to a “neutral” rating and set a $13.50 price objective for the company. in a research report on Friday, August 2nd. Susquehanna reissued a “positive” rating and issued a $16.00 price objective on shares of NU in a research report on Thursday, August 15th. The Goldman Sachs Group increased their price objective on NU from $15.00 to $17.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. JPMorgan Chase & Co. increased their price objective on NU from $14.50 to $15.00 and gave the company a “neutral” rating in a research report on Monday, August 19th. Finally, Barclays upped their target price on NU from $15.00 to $17.00 and gave the company an “overweight” rating in a research note on Friday, August 16th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $14.74.

About NU

Nu Holdings Ltd. provides digital banking platform and digital financial services in Brazil, Mexico, Colombia, and internationally. It offers Nu credit and debit cards; Ultraviolet credit and debit cards; and mobile payment solutions for NuAccount customers to make and receive transfers, pay bills, and make everyday purchases through their mobile phones.