Lufax (NYSE:LU) Shares Gap Up to $2.42

Shares of Lufax Holding Ltd (NYSE:LUGet Free Report) gapped up before the market opened on Friday . The stock had previously closed at $2.42, but opened at $2.47. Lufax shares last traded at $2.38, with a volume of 728,955 shares.

Lufax Stock Down 2.1 %

The company has a debt-to-equity ratio of 0.07, a current ratio of 1.70 and a quick ratio of 1.70. The stock has a 50-day moving average price of $4.30 and a 200 day moving average price of $3.43.

Lufax (NYSE:LUGet Free Report) last announced its quarterly earnings results on Monday, April 22nd. The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.28). The company had revenue of $964.47 million during the quarter. Lufax had a negative net margin of 2.17% and a negative return on equity of 0.72%. On average, research analysts anticipate that Lufax Holding Ltd will post 0.21 earnings per share for the current fiscal year.

Lufax Cuts Dividend

The company also recently disclosed a — dividend, which will be paid on Tuesday, August 6th. Stockholders of record on Tuesday, June 4th will be issued a $0.156 dividend. The ex-dividend date is Tuesday, June 4th. This represents a dividend yield of 5.8%. Lufax’s dividend payout ratio (DPR) is -178.56%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Lansdowne Partners UK LLP acquired a new stake in shares of Lufax in the third quarter worth $2,138,000. Citigroup Inc. raised its position in Lufax by 207.8% in the third quarter. Citigroup Inc. now owns 567,150 shares of the company’s stock valued at $601,000 after purchasing an additional 382,884 shares during the period. AI Squared Management Ltd acquired a new position in shares of Lufax during the fourth quarter worth about $1,026,000. Charles Schwab Investment Management Inc. boosted its position in shares of Lufax by 25.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,242,221 shares of the company’s stock worth $4,497,000 after buying an additional 862,120 shares during the period. Finally, O Shaughnessy Asset Management LLC grew its stake in shares of Lufax by 663.4% in the third quarter. O Shaughnessy Asset Management LLC now owns 125,846 shares of the company’s stock valued at $133,000 after buying an additional 109,362 shares in the last quarter. Hedge funds and other institutional investors own 69.14% of the company’s stock.

About Lufax

(Get Free Report)

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.

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