Royal London Asset Management Ltd. Buys 322,869 Shares of Nu Holdings Ltd. (NYSE:NU)

Royal London Asset Management Ltd. lifted its stake in Nu Holdings Ltd. (NYSE:NU) by 35.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,229,444 shares of the company’s stock after purchasing an additional 322,869 shares during the quarter. Royal London Asset Management Ltd.’s holdings in NU were worth $15,848,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. GAMMA Investing LLC boosted its position in shares of NU by 56.2% in the 2nd quarter. GAMMA Investing LLC now owns 2,264 shares of the company’s stock worth $29,000 after purchasing an additional 815 shares in the last quarter. ORG Partners LLC purchased a new position in NU in the 2nd quarter worth approximately $54,000. Opal Wealth Advisors LLC purchased a new position in NU in the 2nd quarter worth approximately $88,000. LRI Investments LLC purchased a new position in NU in the 1st quarter worth approximately $91,000. Finally, Allspring Global Investments Holdings LLC raised its holdings in NU by 179.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 8,841 shares of the company’s stock worth $105,000 after acquiring an additional 5,672 shares during the last quarter. 80.90% of the stock is owned by institutional investors.

NU Trading Up 1.6 %

NYSE:NU opened at $14.51 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.49 and a quick ratio of 0.49. The firm has a market capitalization of $69.15 billion, a price-to-earnings ratio of 55.81, a price-to-earnings-growth ratio of 0.66 and a beta of 1.17. Nu Holdings Ltd. has a one year low of $6.77 and a one year high of $15.10. The business has a fifty day moving average price of $13.28 and a 200-day moving average price of $12.22.

NU (NYSE:NU) last posted its quarterly earnings data on Tuesday, August 13th. The company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.10 by $0.02. The firm had revenue of $2.85 billion during the quarter, compared to analyst estimates of $2.90 billion. NU had a return on equity of 27.00% and a net margin of 15.11%. During the same period in the prior year, the business posted $0.05 EPS. Sell-side analysts forecast that Nu Holdings Ltd. will post 0.4 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. The Goldman Sachs Group boosted their price objective on shares of NU from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. Susquehanna restated a “positive” rating and issued a $16.00 price objective on shares of NU in a report on Thursday, August 15th. Bank of America boosted their price objective on shares of NU from $12.80 to $15.00 and gave the stock a “neutral” rating in a report on Thursday. Jefferies Financial Group boosted their target price on shares of NU from $10.80 to $15.20 and gave the company a “buy” rating in a research note on Monday, June 24th. Finally, Barclays boosted their target price on shares of NU from $15.00 to $17.00 and gave the company an “overweight” rating in a research note on Friday, August 16th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $14.08.

About NU

Nu Holdings Ltd. provides digital banking platform and digital financial services in Brazil, Mexico, Colombia, and internationally. It offers Nu credit and debit cards; Ultraviolet credit and debit cards; and mobile payment solutions for NuAccount customers to make and receive transfers, pay bills, and make everyday purchases through their mobile phones.