Baillie Gifford & Co. Boosts Stock Holdings in Lufax Holding Ltd (NYSE:LU)

Baillie Gifford & Co. lifted its holdings in shares of Lufax Holding Ltd (NYSE:LU) by 15.9% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 14,011,971 shares of the company’s stock after acquiring an additional 1,922,185 shares during the quarter. Baillie Gifford & Co.’s holdings in Lufax were worth $33,208,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Sequoia Financial Advisors LLC purchased a new position in Lufax in the first quarter worth $60,000. PFG Investments LLC bought a new position in shares of Lufax during the 1st quarter valued at about $76,000. PDS Planning Inc purchased a new position in shares of Lufax during the 1st quarter valued at about $78,000. Diversified Trust Co bought a new stake in Lufax in the 1st quarter worth approximately $92,000. Finally, DGS Capital Management LLC purchased a new stake in Lufax in the first quarter worth approximately $111,000. 69.14% of the stock is currently owned by hedge funds and other institutional investors.

Lufax Trading Down 2.6 %

NYSE LU traded down $0.06 during trading on Friday, hitting $2.28. 2,391,964 shares of the company’s stock traded hands, compared to its average volume of 4,307,701. The stock has a fifty day moving average of $2.68 and a two-hundred day moving average of $3.31. Lufax Holding Ltd has a 12-month low of $2.00 and a 12-month high of $5.52. The firm has a market cap of $1.31 billion, a P/E ratio of -16.29, a PEG ratio of 0.36 and a beta of 0.83. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.70 and a quick ratio of 1.70.

Lufax (NYSE:LU) last released its earnings results on Wednesday, August 21st. The company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.26). Lufax had a negative net margin of 2.17% and a negative return on equity of 0.72%. The company had revenue of $822.36 million during the quarter. During the same period in the previous year, the business posted $0.24 earnings per share. As a group, sell-side analysts expect that Lufax Holding Ltd will post 0.21 EPS for the current year.

Analyst Ratings Changes

Separately, Bank of America decreased their price target on shares of Lufax from $5.22 to $2.75 and set a “neutral” rating on the stock in a research note on Friday.

About Lufax

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.