Jupiter Asset Management Ltd. Acquires 56,400 Shares of Lufax Holding Ltd (NYSE:LU)

Jupiter Asset Management Ltd. lifted its holdings in Lufax Holding Ltd (NYSE:LU) by 24.1% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 290,500 shares of the company’s stock after acquiring an additional 56,400 shares during the quarter. Jupiter Asset Management Ltd. owned 0.05% of Lufax worth $688,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Panagora Asset Management Inc. bought a new stake in Lufax during the 2nd quarter valued at $26,000. Sequoia Financial Advisors LLC bought a new stake in Lufax during the 1st quarter valued at $60,000. PDS Planning Inc bought a new stake in Lufax during the 1st quarter valued at $78,000. Simplicity Wealth LLC purchased a new position in Lufax during the 2nd quarter valued at $79,000. Finally, Diversified Trust Co purchased a new position in Lufax during the 1st quarter valued at $92,000. 69.14% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Bank of America reduced their price objective on shares of Lufax from $5.22 to $2.75 and set a “neutral” rating on the stock in a research report on Friday, August 23rd.

Lufax Stock Up 2.8 %

Shares of Lufax stock opened at $2.23 on Friday. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.08. The company’s fifty day simple moving average is $2.61 and its two-hundred day simple moving average is $3.28. The company has a market cap of $1.28 billion, a P/E ratio of -15.93 and a beta of 0.82. Lufax Holding Ltd has a 12-month low of $2.00 and a 12-month high of $4.94.

Lufax (NYSE:LU) last issued its quarterly earnings data on Wednesday, August 21st. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.26). The company had revenue of $822.36 million for the quarter. Lufax had a negative net margin of 8.70% and a negative return on equity of 2.66%. During the same quarter in the prior year, the firm posted $0.24 earnings per share. Research analysts anticipate that Lufax Holding Ltd will post -0.09 EPS for the current year.

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.