Lufax Holding Ltd (NYSE:LU) Position Reduced by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. trimmed its stake in shares of Lufax Holding Ltd (NYSE:LU) by 79.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 889,775 shares of the company’s stock after selling 3,436,418 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned approximately 0.16% of Lufax worth $2,732,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of Lufax during the first quarter worth $1,994,000. JPMorgan Chase & Co. raised its holdings in shares of Lufax by 6,974.1% during the first quarter. JPMorgan Chase & Co. now owns 1,657,613 shares of the company’s stock worth $9,233,000 after purchasing an additional 1,634,181 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Lufax by 101.3% during the first quarter. Bank of New York Mellon Corp now owns 1,052,247 shares of the company’s stock worth $5,861,000 after purchasing an additional 529,594 shares during the period. American Century Companies Inc. raised its holdings in shares of Lufax by 157.7% during the first quarter. American Century Companies Inc. now owns 66,732 shares of the company’s stock worth $372,000 after purchasing an additional 40,839 shares during the period. Finally, Citigroup Inc. raised its holdings in shares of Lufax by 409.6% during the first quarter. Citigroup Inc. now owns 418,953 shares of the company’s stock worth $2,334,000 after purchasing an additional 336,739 shares during the period. 69.14% of the stock is currently owned by institutional investors.

Lufax Stock Up 2.8 %

Lufax stock opened at $4.28 on Friday. The stock has a market cap of $2.45 billion, a price-to-earnings ratio of 18.59 and a beta of 0.88. The company has a current ratio of 1.68, a quick ratio of 1.59 and a debt-to-equity ratio of 0.06. The company’s 50-day moving average price is $3.41 and its two-hundred day moving average price is $3.36. Lufax Holding Ltd has a 52 week low of $2.11 and a 52 week high of $8.04.

Lufax (NYSE:LU) last released its earnings results on Thursday, March 21st. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.18). The company had revenue of $965.76 million for the quarter, compared to analyst estimates of $1.06 billion. Lufax had a net margin of 2.59% and a return on equity of 0.94%. On average, analysts expect that Lufax Holding Ltd will post 0.3 EPS for the current fiscal year.

Lufax Cuts Dividend

The firm also recently disclosed a — dividend, which will be paid on Tuesday, August 6th. Stockholders of record on Tuesday, June 4th will be given a dividend of $0.156 per share. The ex-dividend date is Tuesday, June 4th. This represents a dividend yield of 5.8%. Lufax’s dividend payout ratio (DPR) is 108.70%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Morgan Stanley increased their price objective on shares of 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 cut shares of 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 assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Lufax presently has an average rating of “Hold” and an average 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.