Mitsubishi UFJ Asset Management Co. Ltd. Boosts Stock Holdings in Lufax Holding Ltd. Sponsored ADR (NYSE:LU)

Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Lufax Holding Ltd. Sponsored ADR (NYSE:LU) by 11.2% during the 1st quarter, HoldingsChannel reports. The fund owned 70,969 shares of the company’s stock after buying an additional 7,122 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Lufax were worth $211,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in LU. Tiger Pacific Capital LP purchased a new stake in shares of Lufax during the fourth quarter worth $9,409,000. Marshall Wace LLP purchased a new stake in shares of Lufax during the fourth quarter worth $5,491,000. Nuveen Asset Management LLC lifted its position in shares of Lufax by 747.0% during the fourth quarter. Nuveen Asset Management LLC now owns 1,293,334 shares of the company’s stock worth $3,091,000 after acquiring an additional 1,140,634 shares in the last quarter. Cape Ann Asset Management Ltd bought a new position in shares of Lufax in the first quarter worth $3,180,000. Finally, BNP Paribas Financial Markets raised its position in shares of Lufax by 190.5% in the fourth quarter. BNP Paribas Financial Markets now owns 1,305,475 shares of the company’s stock worth $3,120,000 after buying an additional 856,066 shares in the last quarter. Hedge funds and other institutional investors own 69.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Wall Street Zen upgraded Lufax from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Deutsche Bank Aktiengesellschaft downgraded Lufax from a “hold” rating to a “sell” rating in a research report on Tuesday, April 29th.

Lufax Stock Performance

Shares of LU stock opened at $2.85 on Friday. Lufax Holding Ltd. Sponsored ADR has a 52-week low of $2.13 and a 52-week high of $4.15. The company has a market capitalization of $2.47 billion, a PE ratio of -3.69 and a beta of 0.69. The business’s fifty day moving average is $2.84 and its 200 day moving average is $2.83.

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.