The Manufacturers Life Insurance Company Increases Stock Position in Nu Holdings Ltd. (NYSE:NU)

The Manufacturers Life Insurance Company grew its position in shares of Nu Holdings Ltd. (NYSE:NU) by 94.1% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 609,709 shares of the company’s stock after buying an additional 295,520 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in NU were worth $8,323,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of NU. Fisher Asset Management LLC bought a new stake in NU in the third quarter valued at $98,704,000. Thrivent Financial for Lutherans raised its stake in NU by 23.2% in the third quarter. Thrivent Financial for Lutherans now owns 257,648 shares of the company’s stock worth $3,517,000 after buying an additional 48,445 shares in the last quarter. Adero Partners LLC lifted its holdings in NU by 5.7% in the third quarter. Adero Partners LLC now owns 4,819,355 shares of the company’s stock worth $65,784,000 after buying an additional 259,324 shares during the period. Aigen Investment Management LP bought a new stake in NU during the 3rd quarter valued at approximately $814,000. Finally, Principal Financial Group Inc. grew its holdings in shares of NU by 315.8% during the 3rd quarter. Principal Financial Group Inc. now owns 1,153,464 shares of the company’s stock worth $15,745,000 after acquiring an additional 876,039 shares during the period. Institutional investors own 80.90% of the company’s stock.

NU Stock Down 2.7 %

NU opened at $11.68 on Wednesday. The stock has a market capitalization of $55.64 billion, a price-to-earnings ratio of 32.42, a PEG ratio of 0.58 and a beta of 0.99. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 0.20. The firm has a 50 day moving average price of $14.23 and a 200-day moving average price of $13.37. Nu Holdings Ltd. has a twelve month low of $8.06 and a twelve month high of $16.15.

Analysts Set New Price Targets

A number of research analysts have recently commented on NU shares. The Goldman Sachs Group raised their target price on NU from $17.00 to $19.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. KeyCorp boosted their target price on shares of NU from $15.00 to $17.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. JPMorgan Chase & Co. increased their price target on shares of NU from $14.50 to $15.00 and gave the stock a “neutral” rating in a research note on Monday, August 19th. Barclays boosted their price objective on shares of NU from $15.00 to $17.00 and gave the stock an “overweight” rating in a research note on Friday, August 16th. Finally, Susquehanna raised their target price on shares of NU from $16.00 to $18.00 and gave the company a “positive” rating in a research note on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, NU presently has a consensus rating of “Hold” and a consensus price target of $15.63.

NU Company Profile

Nu Holdings Ltd. provides digital banking platform and digital financial services in Brazil, Mexico, Colombia, and internationally. It offers Nu credit and debit cards; Ultraviolet credit and debit cards; and mobile payment solutions for NuAccount customers to make and receive transfers, pay bills, and make everyday purchases through their mobile phones.