The Manufacturers Life Insurance Company Buys 295,520 Shares of Nu Holdings Ltd. (NYSE:NU)

The Manufacturers Life Insurance Company lifted its position in shares of Nu Holdings Ltd. (NYSE:NU) by 94.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 609,709 shares of the company’s stock after acquiring an additional 295,520 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in NU were worth $8,323,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. GAMMA Investing LLC boosted its holdings in shares of NU by 56.2% during the 2nd quarter. GAMMA Investing LLC now owns 2,264 shares of the company’s stock worth $29,000 after buying an additional 815 shares in the last quarter. Marcum Wealth LLC increased its stake in NU by 2.5% in the 3rd quarter. Marcum Wealth LLC now owns 37,221 shares of the company’s stock valued at $508,000 after buying an additional 903 shares during the last quarter. Fortis Capital Management LLC boosted its position in NU by 6.6% in the second quarter. Fortis Capital Management LLC now owns 17,330 shares of the company’s stock worth $223,000 after purchasing an additional 1,072 shares during the last quarter. Americana Partners LLC grew its holdings in NU by 7.8% during the second quarter. Americana Partners LLC now owns 15,449 shares of the company’s stock valued at $199,000 after purchasing an additional 1,115 shares during the period. Finally, OneDigital Investment Advisors LLC raised its stake in NU by 4.9% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 26,477 shares of the company’s stock valued at $361,000 after acquiring an additional 1,248 shares during the period. 80.90% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have commented on the company. Barclays raised their target price on NU from $15.00 to $17.00 and gave the stock an “overweight” rating in a research note on Friday, August 16th. JPMorgan Chase & Co. increased their target price on shares of NU from $14.50 to $15.00 and gave the stock a “neutral” rating in a research note on Monday, August 19th. Bank of America raised their price target on shares of NU from $12.80 to $15.00 and gave the company a “neutral” rating in a report on Thursday, September 12th. Itau BBA Securities cut shares of NU from an “outperform” rating to a “market perform” rating in a report on Thursday, November 14th. Finally, KeyCorp lifted their price objective on NU from $15.00 to $17.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, NU has an average rating of “Hold” and an average price target of $15.63.

NU Stock Performance

Shares of NYSE NU opened at $11.68 on Wednesday. The stock has a market cap of $55.64 billion, a price-to-earnings ratio of 32.42, a P/E/G ratio of 0.58 and a beta of 0.99. The stock’s 50-day moving average is $14.23 and its 200 day moving average is $13.37. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 0.20. Nu Holdings Ltd. has a 1-year low of $8.06 and a 1-year high of $16.15.

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.