JPMorgan Chase & Co. Grows Stock Position in Lufax Holding Ltd (NYSE:LU)

JPMorgan Chase & Co. lifted its holdings in shares of Lufax Holding Ltd (NYSE:LU) by 27.5% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 63,235 shares of the company’s stock after acquiring an additional 13,630 shares during the period. JPMorgan Chase & Co.’s holdings in Lufax were worth $221,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of LU. Franklin Resources Inc. grew its stake in Lufax by 14.8% during the 3rd quarter. Franklin Resources Inc. now owns 65,584 shares of the company’s stock valued at $226,000 after purchasing an additional 8,446 shares during the last quarter. Daiwa Securities Group Inc. boosted its position in Lufax by 14.7% in the third quarter. Daiwa Securities Group Inc. now owns 73,275 shares of the company’s stock valued at $256,000 after buying an additional 9,400 shares during the last quarter. EWA LLC purchased a new stake in Lufax in the third quarter valued at approximately $45,000. Soltis Investment Advisors LLC purchased a new position in Lufax during the 3rd quarter worth approximately $52,000. Finally, SG Americas Securities LLC acquired a new stake in Lufax during the 3rd quarter valued at approximately $66,000. Hedge funds and other institutional investors own 69.14% of the company’s stock.

Lufax Stock Down 3.2 %

Shares of LU stock opened at $2.31 on Friday. Lufax Holding Ltd has a 52-week low of $2.00 and a 52-week high of $4.94. The stock has a market cap of $2.00 billion, a PE ratio of -2.99, a price-to-earnings-growth ratio of 0.63 and a beta of 0.84. The business has a 50-day simple moving average of $2.48 and a 200-day simple moving average of $2.64.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group reiterated a “hold” rating and issued a $3.20 price objective on shares of Lufax in a research note on Thursday, October 24th.

Lufax Company Profile

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.