Lufax (NYSE:LU) Shares Down 3.8%

Lufax Holding Ltd (NYSE:LU)’s share price dropped 3.8% during trading on Monday . The stock traded as low as $4.48 and last traded at $4.50. Approximately 3,590,904 shares traded hands during mid-day trading, a decline of 28% from the average daily volume of 4,953,918 shares. The stock had previously closed at $4.68.

Wall Street Analyst Weigh In

LU has been the subject of a number of research analyst reports. Morgan Stanley increased their price target on Lufax from $3.00 to $4.80 and gave the company an “equal weight” rating in a research report on Tuesday, January 2nd. Bank of America downgraded Lufax from a “buy” rating to a “neutral” rating in a research report on Thursday, January 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $6.91.

Lufax Stock Down 3.2 %

The firm has a market cap of $2.60 billion, a PE ratio of -32.35, a P/E/G ratio of 0.64 and a beta of 0.88. The stock has a 50-day simple moving average of $3.66 and a two-hundred day simple moving average of $3.36. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.07.

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

Lufax Cuts Dividend

The company also recently disclosed a — dividend, which will be paid on Tuesday, August 6th. Shareholders 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 yield of 5.8%. Lufax’s payout ratio is -178.56%.

Institutional Trading of Lufax

A number of hedge funds have recently made changes to their positions in the stock. Van ECK Associates Corp lifted its position in Lufax by 70.4% in the 3rd quarter. Van ECK Associates Corp now owns 45,030 shares of the company’s stock valued at $48,000 after acquiring an additional 18,609 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its position in Lufax by 141.5% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 70,732 shares of the company’s stock valued at $75,000 after acquiring an additional 41,449 shares in the last quarter. PFG Investments LLC bought a new position in Lufax in the 1st quarter valued at approximately $76,000. Diversified Trust Co bought a new position in Lufax in the 1st quarter valued at approximately $92,000. Finally, DGS Capital Management LLC bought a new position in Lufax in the 1st quarter valued at approximately $111,000. 69.14% of the stock is owned by institutional investors.

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.