Baillie Gifford & Co. Increases Stock Position in Lufax Holding Ltd (NYSE:LU)

Baillie Gifford & Co. increased its position in shares of Lufax Holding Ltd (NYSE:LU) by 4.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 14,617,105 shares of the company’s stock after purchasing an additional 605,134 shares during the quarter. Baillie Gifford & Co.’s holdings in Lufax were worth $51,014,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Panagora Asset Management Inc. purchased a new position in shares of Lufax in the 2nd quarter worth approximately $26,000. SIH Partners LLLP purchased a new position in Lufax in the second quarter worth $65,000. SG Americas Securities LLC bought a new position in Lufax in the 3rd quarter valued at $66,000. Simplicity Wealth LLC bought a new position in Lufax in the 2nd quarter valued at $79,000. Finally, Yeomans Consulting Group Inc. purchased a new stake in shares of Lufax during the 2nd quarter valued at $99,000. 69.14% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on LU shares. Bank of America reduced their price target on shares of Lufax from $5.22 to $2.75 and set a “neutral” rating for the company in a research report on Friday, August 23rd. Jefferies Financial Group reissued a “hold” rating and set a $3.20 target price on shares of Lufax in a research report on Thursday, October 24th.

Lufax Stock Down 3.6 %

Shares of NYSE LU opened at $2.44 on Wednesday. Lufax Holding Ltd has a one year low of $2.00 and a one year high of $4.94. The business’s fifty day moving average price is $2.82 and its 200-day moving average price is $3.03.

Lufax (NYSE:LU) last posted its quarterly earnings results on Monday, October 21st. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.15). The business had revenue of $789.93 million during the quarter. Lufax had a negative net margin of 12.75% and a negative return on equity of 3.63%. During the same quarter in the prior year, the business posted $0.04 earnings per share. As a group, equities analysts anticipate that Lufax Holding Ltd will post -0.48 EPS for the current fiscal year.

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.