Lufax Holding Ltd Declares — Dividend of $0.16 (NYSE:LU)

Lufax Holding Ltd (NYSE:LU) announced a — dividend on Tuesday, March 26th, Wall Street Journal reports. Shareholders of record on Tuesday, June 4th will be given a dividend of 0.156 per share on Tuesday, August 6th. This represents a yield of 5.8%. The ex-dividend date is Tuesday, June 4th.

Lufax Price Performance

Shares of NYSE LU opened at $4.29 on Thursday. Lufax has a fifty-two week low of $2.11 and a fifty-two week high of $8.72. The firm’s 50-day simple moving average is $2.80 and its 200 day simple moving average is $3.38. The company has a quick ratio of 1.59, a current ratio of 1.68 and a debt-to-equity ratio of 0.06. The stock has a market cap of $2.46 billion, a P/E ratio of 18.65, a P/E/G ratio of 1.82 and a beta of 0.81.

Hedge Funds Weigh In On Lufax

A number of institutional investors have recently bought and sold shares of the stock. BlackRock Inc. grew its stake in Lufax by 1,298.8% during the 1st quarter. BlackRock Inc. now owns 28,468,748 shares of the company’s stock valued at $158,571,000 after acquiring an additional 26,433,557 shares in the last quarter. Norges Bank purchased a new position in Lufax during the 4th quarter valued at about $29,422,000. State Street Corp grew its stake in Lufax by 260.0% during the 1st quarter. State Street Corp now owns 10,097,656 shares of the company’s stock valued at $56,243,000 after acquiring an additional 7,292,397 shares in the last quarter. Marshall Wace LLP grew its stake in Lufax by 68.3% during the 2nd quarter. Marshall Wace LLP now owns 14,054,734 shares of the company’s stock valued at $20,098,000 after acquiring an additional 5,705,052 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake in Lufax by 62.5% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 12,895,263 shares of the company’s stock valued at $25,017,000 after acquiring an additional 4,961,667 shares in the last quarter. Hedge funds and other institutional investors own 69.14% of the company’s stock.

Analyst Ratings Changes

LU has been the topic of a number of recent analyst reports. Bank of America cut shares of Lufax from a “buy” rating to a “neutral” rating in a research note on Thursday, January 25th. Morgan Stanley lifted their price objective on shares of Lufax from $3.00 to $4.80 and gave the company an “equal weight” rating in a research note on Tuesday, January 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Lufax currently has an average rating of “Hold” and a consensus target price of $6.91.

About Lufax

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.