Daiwa Securities Group Inc. Acquires 9,400 Shares of Lufax Holding Ltd (NYSE:LU)

Daiwa Securities Group Inc. boosted its holdings in Lufax Holding Ltd (NYSE:LU) by 14.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 73,275 shares of the company’s stock after purchasing an additional 9,400 shares during the period. Daiwa Securities Group Inc.’s holdings in Lufax were worth $256,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of LU. Simplicity Wealth LLC bought a new position in Lufax during the second quarter worth about $79,000. Baillie Gifford & Co. raised its stake in Lufax by 15.9% in the 2nd quarter. Baillie Gifford & Co. now owns 14,011,971 shares of the company’s stock valued at $33,208,000 after acquiring an additional 1,922,185 shares during the period. Yeomans Consulting Group Inc. acquired a new stake in Lufax during the 2nd quarter valued at $99,000. Panagora Asset Management Inc. acquired a new position in shares of Lufax in the second quarter valued at $26,000. Finally, Headlands Technologies LLC raised its position in shares of Lufax by 1,754.9% in the second quarter. Headlands Technologies LLC now owns 87,996 shares of the company’s stock valued at $209,000 after purchasing an additional 83,252 shares during the period. 69.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have weighed in on LU. Jefferies Financial Group reissued a “hold” rating and issued a $3.20 price target on shares of Lufax in a report on Thursday, October 24th. Bank of America lowered their price target 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 Price Performance

Shares of NYSE LU opened at $2.45 on Monday. The business has a fifty day moving average price of $2.87 and a two-hundred day moving average price of $2.81. The stock has a market capitalization of $2.12 billion, a PE ratio of -3.18 and a beta of 0.90. Lufax Holding Ltd has a fifty-two week low of $2.00 and a fifty-two week high of $4.94.

Lufax (NYSE:LU) last posted its quarterly earnings data on Monday, October 21st. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.15). Lufax had a negative return on equity of 3.63% and a negative net margin of 12.75%. The firm had revenue of $789.93 million for the quarter. During the same period last year, the company earned $0.04 earnings per share. On average, equities analysts expect that Lufax Holding Ltd will post -0.48 EPS for the current year.

About Lufax

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.