E Fund Management Co. Ltd. decreased its holdings in Lufax Holding Ltd (NYSE:LU – Free Report) by 5.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,114,260 shares of the company’s stock after selling 62,185 shares during the period. E Fund Management Co. Ltd.’s holdings in Lufax were worth $2,641,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Panagora Asset Management Inc. purchased a new stake in Lufax in the second quarter worth $26,000. Sequoia Financial Advisors LLC bought a new stake in shares of Lufax in the first quarter valued at about $60,000. PDS Planning Inc bought a new stake in shares of Lufax in the first quarter valued at about $78,000. Simplicity Wealth LLC bought a new stake in shares of Lufax in the second quarter valued at about $79,000. Finally, Diversified Trust Co bought a new stake in shares of Lufax in the first quarter valued at about $92,000. Hedge funds and other institutional investors own 69.14% of the company’s stock.
Lufax Stock Performance
LU stock opened at $2.24 on Wednesday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.63 and a quick ratio of 1.63. The business has a 50-day moving average price of $2.59 and a 200 day moving average price of $3.27. The company has a market capitalization of $1.28 billion, a P/E ratio of -15.96 and a beta of 0.82. Lufax Holding Ltd has a 1-year low of $2.00 and a 1-year high of $4.94.
Analyst Ratings Changes
Separately, Bank of America decreased their price objective on Lufax from $5.22 to $2.75 and set a “neutral” rating for the company in a report on Friday, August 23rd.
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.
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