Corebridge Financial Inc. Has $954,000 Stock Position in Nu Holdings Ltd. $NU

Corebridge Financial Inc. increased its holdings in shares of Nu Holdings Ltd. (NYSE:NU) by 2.0% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 93,138 shares of the company’s stock after acquiring an additional 1,837 shares during the quarter. Corebridge Financial Inc.’s holdings in NU were worth $954,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in NU. Baillie Gifford & Co. raised its stake in NU by 17.9% during the 1st quarter. Baillie Gifford & Co. now owns 265,160,474 shares of the company’s stock worth $2,715,243,000 after buying an additional 40,181,132 shares during the period. Nuveen LLC acquired a new stake in NU during the 1st quarter worth $221,317,000. Kontiki Capital Management HK Ltd. raised its stake in NU by 54.3% during the 1st quarter. Kontiki Capital Management HK Ltd. now owns 32,575,725 shares of the company’s stock worth $333,575,000 after buying an additional 11,465,700 shares during the period. Price T Rowe Associates Inc. MD raised its stake in NU by 24.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 54,435,568 shares of the company’s stock worth $557,422,000 after buying an additional 10,785,851 shares during the period. Finally, Coronation Fund Managers Ltd. raised its stake in NU by 69.8% during the 1st quarter. Coronation Fund Managers Ltd. now owns 15,856,452 shares of the company’s stock worth $162,370,000 after buying an additional 6,519,631 shares during the period. Institutional investors and hedge funds own 84.02% of the company’s stock.

NU Price Performance

NYSE:NU opened at $14.75 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.57 and a current ratio of 0.57. The stock’s 50-day simple moving average is $13.31 and its 200 day simple moving average is $12.24. The company has a market cap of $71.06 billion, a P/E ratio of 32.06, a P/E/G ratio of 0.78 and a beta of 1.07. Nu Holdings Ltd. has a 52-week low of $9.01 and a 52-week high of $16.15.

NU (NYSE:NU) last released its earnings results on Thursday, August 14th. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02. The business had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.78 billion. NU had a return on equity of 29.91% and a net margin of 17.90%.During the same quarter in the previous year, the business earned $0.12 earnings per share. As a group, sell-side analysts forecast that Nu Holdings Ltd. will post 0.58 EPS for the current fiscal year.

Wall Street Analyst Weigh In

NU has been the topic of several research analyst reports. Bank of America raised their price objective on NU from $14.00 to $16.00 and gave the stock a “neutral” rating in a research note on Monday, August 25th. Citigroup raised NU from a “sell” rating to a “buy” rating and raised their price objective for the stock from $9.00 to $18.00 in a research note on Wednesday, August 20th. Itau BBA Securities upgraded NU from a “market perform” rating to an “outperform” rating and set a $18.00 target price for the company in a report on Monday, August 18th. Susquehanna increased their target price on NU from $15.00 to $17.00 and gave the stock a “positive” rating in a report on Wednesday, August 27th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of NU in a research report on Friday, June 13th. Nine research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, NU presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.06.

NU Profile

Nu Holdings Ltd. is a holding company, which engages in the provision of digital banking services. The company was founded by David Vélez Osorno, Cristina Helena Zingaretti Junqueira, and Adam Edward Wible on February 26, 2016 and is headquartered in George Town, Cayman Islands.