Credit Suisse Group lowered shares of Lufax (NYSE:LU – Get Rating) from a neutral rating to an underperform rating in a report released on Friday morning, Marketbeat Ratings reports. Credit Suisse Group currently has $1.40 target price on the stock, down from their previous target price of $1.70.
LU has been the subject of several other reports. CLSA upgraded shares of Lufax from a sell rating to a buy rating in a report on Monday, November 14th. China Renaissance downgraded shares of Lufax from a buy rating to a hold rating and set a $3.10 target price for the company. in a report on Thursday, September 29th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Hold and an average target price of $3.29.
Get Lufax alerts:Lufax Stock Performance
NYSE:LU opened at $1.40 on Friday. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.13. The firm has a 50-day moving average price of $2.09 and a two-hundred day moving average price of $4.07. Lufax has a twelve month low of $1.26 and a twelve month high of $7.05. The company has a market capitalization of $3.20 billion, a P/E ratio of 1.77 and a beta of 0.04.
Lufax Announces Dividend
The company also recently declared a semi-annual dividend, which was paid on Friday, October 28th. Stockholders of record on Thursday, October 13th were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Wednesday, October 12th. This represents a dividend yield of 11%. Lufax's dividend payout ratio (DPR) is presently 37.97%.Institutional Investors Weigh In On Lufax
A number of hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. boosted its position in shares of Lufax by 1,298.8% in the first quarter. BlackRock Inc. now owns 28,468,748 shares of the company's stock worth $158,571,000 after acquiring an additional 26,433,557 shares during the last quarter. Marshall Wace LLP boosted its position in shares of Lufax by 18,231.1% in the third quarter. Marshall Wace LLP now owns 12,593,493 shares of the company's stock worth $31,982,000 after acquiring an additional 12,524,793 shares during the last quarter. State Street Corp boosted its position in shares of Lufax by 260.0% in the first quarter. State Street Corp now owns 10,097,656 shares of the company's stock worth $56,243,000 after acquiring an additional 7,292,397 shares during the last quarter. Capital World Investors boosted its position in shares of Lufax by 6.3% in the first quarter. Capital World Investors now owns 56,470,472 shares of the company's stock worth $314,541,000 after acquiring an additional 3,341,655 shares during the last quarter. Finally, Farallon Capital Management LLC boosted its position in shares of Lufax by 15.9% in the first quarter. Farallon Capital Management LLC now owns 22,034,399 shares of the company's stock worth $122,732,000 after acquiring an additional 3,015,000 shares during the last quarter. 15.71% of the stock is currently owned by hedge funds and other institutional investors.
Lufax Company Profile
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Lufax Holding Ltd operates a technology-empowered personal financial services platform in China. It offers loan products, including unsecured loans and secured loans, as well as consumer finance loans. The company 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.
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