UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Trims Stock Position in Lufax Holding Ltd (NYSE:LU)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its stake in Lufax Holding Ltd (NYSE:LU) by 15.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 223,580 shares of the company’s stock after selling 39,545 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Lufax were worth $780,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of LU. Baillie Gifford & Co. boosted its position in shares of Lufax by 4.3% during the third quarter. Baillie Gifford & Co. now owns 14,617,105 shares of the company’s stock valued at $51,014,000 after purchasing an additional 605,134 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Lufax by 43.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,102,895 shares of the company’s stock valued at $10,829,000 after buying an additional 936,048 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of Lufax by 6.0% in the 2nd quarter. Renaissance Technologies LLC now owns 2,688,219 shares of the company’s stock worth $6,371,000 after buying an additional 152,025 shares during the period. Caxton Associates LP bought a new position in shares of Lufax in the 2nd quarter worth about $2,152,000. Finally, AQR Capital Management LLC purchased a new position in Lufax during the 2nd quarter valued at about $1,114,000. 69.14% of the stock is owned by hedge funds and other institutional investors.

Lufax Stock Performance

Shares of LU stock opened at $2.41 on Friday. The company has a market capitalization of $2.09 billion, a price-to-earnings ratio of -3.13 and a beta of 0.85. Lufax Holding Ltd has a one year low of $2.00 and a one year high of $4.94. The company’s 50-day moving average is $2.65 and its 200 day moving average is $2.65.

Lufax (NYSE:LU) last announced its quarterly earnings results on Monday, October 21st. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.15). The firm had revenue of $789.93 million for the quarter. Lufax had a negative net margin of 12.75% and a negative return on equity of 3.63%. During the same period in the prior year, the business earned $0.04 earnings per share. As a group, research analysts predict that Lufax Holding Ltd will post -0.48 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on LU shares. Bank of America cut their price objective on shares of Lufax from $5.22 to $2.75 and set a “neutral” rating on the stock in a report on Friday, August 23rd. Jefferies Financial Group reaffirmed a “hold” rating and set a $3.20 price objective on shares of Lufax in a research report on Thursday, October 24th.

Lufax 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.