Lufax Holding Ltd (NYSE:LU) Shares Sold by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. cut its stake in shares of Lufax Holding Ltd (NYSE:LU) by 75.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 346,062 shares of the company’s stock after selling 1,038,194 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned about 0.06% of Lufax worth $1,062,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Van ECK Associates Corp increased its position in shares of Lufax by 70.4% in the 3rd quarter. Van ECK Associates Corp now owns 45,030 shares of the company’s stock valued at $48,000 after acquiring an additional 18,609 shares during the period. Vanguard Personalized Indexing Management LLC increased its position in shares of Lufax by 141.5% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 70,732 shares of the company’s stock valued at $75,000 after acquiring an additional 41,449 shares during the period. O Shaughnessy Asset Management LLC increased its position in shares of Lufax by 663.4% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 125,846 shares of the company’s stock valued at $133,000 after acquiring an additional 109,362 shares during the period. Asset Management One Co. Ltd. increased its position in shares of Lufax by 11.1% in the 3rd quarter. Asset Management One Co. Ltd. now owns 163,818 shares of the company’s stock valued at $174,000 after acquiring an additional 16,354 shares during the period. Finally, State of New Jersey Common Pension Fund D grew its position in Lufax by 83.8% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 169,216 shares of the company’s stock worth $179,000 after purchasing an additional 77,135 shares during the period. 69.14% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LU has been the topic of several analyst reports. Morgan Stanley increased their price target on Lufax from $3.00 to $4.80 and gave the stock an “equal weight” rating in a research report on Tuesday, January 2nd. Bank of America downgraded Lufax from a “buy” rating to a “neutral” rating in a research report on Thursday, January 25th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Lufax presently has an average rating of “Hold” and an average price target of $6.91.

Lufax Price Performance

NYSE:LU opened at $4.57 on Friday. Lufax Holding Ltd has a 52 week low of $2.11 and a 52 week high of $7.64. The company has a quick ratio of 1.59, a current ratio of 1.68 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $2.62 billion, a PE ratio of -32.64 and a beta of 0.88. The stock’s 50-day moving average price is $3.62 and its 200-day moving average price is $3.37.

Lufax (NYSE:LU) last posted its earnings results on Thursday, March 21st. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.18). Lufax had a negative net margin of 2.17% and a negative return on equity of 0.71%. The business had revenue of $965.76 million for the quarter, compared to analyst estimates of $1.06 billion. As a group, equities analysts expect that Lufax Holding Ltd will post 0.3 EPS for the current fiscal year.

Lufax Cuts Dividend

The business also recently declared a — dividend, which will be paid on Tuesday, August 6th. Investors of record on Tuesday, June 4th will be paid a $0.156 dividend. This represents a yield of 5.8%. The ex-dividend date of this dividend is Tuesday, June 4th. Lufax’s dividend payout ratio is presently -178.56%.

Lufax Company Profile

Lufax Holding Ltd operates a technology-empowered personal financial services platform in China. The company offers loan products, including unsecured loans and secured loans, as well as consumer finance loans. It also provides wealth management platforms, such as Lufax (Lu.com), Lu International (Singapore), and Lu International (Hong Kong) to the middle class and affluent investors to invest in products and portfolios; retail credit facilitation services platform that offers small business owners with lending solutions; and technology empowerment solutions for financial institutions.