State Street Corp Raises Stock Position in Lufax Holding Ltd (NYSE:LU)

State Street Corp lifted its position in shares of Lufax Holding Ltd (NYSE:LU) by 3.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,960,609 shares of the company’s stock after buying an additional 155,006 shares during the period. State Street Corp’s holdings in Lufax were worth $17,313,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its stake in shares of Lufax by 43.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,102,895 shares of the company’s stock valued at $10,829,000 after acquiring an additional 936,048 shares during the period. Caxton Associates LP acquired a new stake in Lufax in the 2nd quarter valued at approximately $2,152,000. Baillie Gifford & Co. lifted its stake in Lufax by 4.3% during the third quarter. Baillie Gifford & Co. now owns 14,617,105 shares of the company’s stock worth $51,014,000 after purchasing an additional 605,134 shares in the last quarter. AQR Capital Management LLC acquired a new position in Lufax during the second quarter worth $1,114,000. Finally, Renaissance Technologies LLC boosted its position in shares of Lufax by 6.0% during the second quarter. Renaissance Technologies LLC now owns 2,688,219 shares of the company’s stock worth $6,371,000 after buying an additional 152,025 shares during the period. Hedge funds and other institutional investors own 69.14% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group reissued a “hold” rating and issued a $3.20 price objective on shares of Lufax in a research note on Thursday, October 24th.

Lufax Price Performance

Lufax stock opened at $2.39 on Wednesday. Lufax Holding Ltd has a 1-year low of $2.00 and a 1-year high of $4.94. The stock has a market cap of $2.07 billion, a PE ratio of -3.10 and a beta of 0.85. The stock’s fifty day moving average is $2.61 and its two-hundred day moving average is $2.65.

Lufax (NYSE:LU) last announced its quarterly earnings results on Monday, October 21st. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.15). Lufax had a negative net margin of 12.75% and a negative return on equity of 3.63%. The business had revenue of $789.93 million during the quarter. During the same period last year, the business earned $0.04 earnings per share. On average, research analysts expect that Lufax Holding Ltd will post -0.48 earnings per share for the current fiscal year.

Lufax Company Profile

Lufax Holding Ltd operates as a financial service empowering institution for small and micro businesses in China. The company offers loan products, including general unsecured loans and secured loans, as well as consumer finance loans. It also provides wealth management products, such as asset management plans, mutual fund products, private investment fund products, and trust products.