Daiwa Securities Group Inc. Lowers Stock Position in Lufax Holding Ltd (NYSE:LU)

Daiwa Securities Group Inc. cut its holdings in shares of Lufax Holding Ltd (NYSE:LU) by 75.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 30,375 shares of the company’s stock after selling 91,125 shares during the period. Daiwa Securities Group Inc.’s holdings in Lufax were worth $93,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of LU. Van ECK Associates Corp lifted its holdings in shares of Lufax by 70.4% during the third quarter. Van ECK Associates Corp now owns 45,030 shares of the company’s stock worth $48,000 after purchasing an additional 18,609 shares during the period. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Lufax by 141.5% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 70,732 shares of the company’s stock worth $75,000 after purchasing an additional 41,449 shares during the period. O Shaughnessy Asset Management LLC lifted its holdings in shares of Lufax by 663.4% during the third quarter. O Shaughnessy Asset Management LLC now owns 125,846 shares of the company’s stock worth $133,000 after purchasing an additional 109,362 shares during the period. Asset Management One Co. Ltd. lifted its holdings in shares of Lufax by 11.1% during the third quarter. Asset Management One Co. Ltd. now owns 163,818 shares of the company’s stock worth $174,000 after purchasing an additional 16,354 shares during the period. Finally, State of New Jersey Common Pension Fund D lifted its holdings in shares of Lufax by 83.8% during the third quarter. State of New Jersey Common Pension Fund D now owns 169,216 shares of the company’s stock worth $179,000 after purchasing an additional 77,135 shares during the period. 69.14% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on LU. Morgan Stanley increased their price target on Lufax from $3.00 to $4.80 and gave the stock an “equal weight” rating in a report on Tuesday, January 2nd. Bank of America downgraded Lufax from a “buy” rating to a “neutral” rating in a report on Thursday, January 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $6.91.

Lufax Price Performance

Lufax stock opened at $4.68 on Friday. Lufax Holding Ltd has a one year low of $2.11 and a one year high of $7.64. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.59 and a current ratio of 1.70. The business has a fifty day moving average of $3.66 and a two-hundred day moving average of $3.36. The company has a market cap of $2.68 billion, a P/E ratio of -33.43, a price-to-earnings-growth ratio of 0.43 and a beta of 0.88.

Lufax (NYSE:LU) last released its quarterly earnings results on Thursday, March 21st. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.18). The firm had revenue of $965.76 million for the quarter, compared to analyst estimates of $1.06 billion. Lufax had a negative return on equity of 0.72% and a negative net margin of 2.17%. As a group, analysts predict that Lufax Holding Ltd will post 0.3 earnings per share for the current fiscal year.

Lufax Cuts Dividend

The company also recently declared a — dividend, which will be paid on Tuesday, August 6th. Stockholders of record on Tuesday, June 4th will be paid a dividend of $0.156 per share. This represents a dividend yield of 5.8%. The ex-dividend date of this dividend is Tuesday, June 4th. Lufax’s dividend payout ratio (DPR) is presently -178.56%.

Lufax Profile

Lufax Holding Ltd operates a technology-empowered personal financial services platform in China. The company offers loan products, including unsecured loans and secured loans, as well as consumer finance loans. It also provides wealth management platforms, such as Lufax (Lu.com), Lu International (Singapore), and Lu International (Hong Kong) to the middle class and affluent investors to invest in products and portfolios; retail credit facilitation services platform that offers small business owners with lending solutions; and technology empowerment solutions for financial institutions.