Lufax Inc (NYSE:LU – Get Rating) announced its quarterly results on Wednesday. The company reported earnings per share (EPS) of $0.19 for the quarter, missing the Zacks’ consensus estimate of $0.20 per ($0.01), Fidelity Earnings reports. Lufax had a net margin of 28.26% and a return on equity of 19.55%. During the same period last year, the company earned earnings per share of $0.19. Lufax has updated its guidance for the first quarter of 2022 to EPS and its guidance for the full year 2022 to EPS.
Shares of LU were down $1.21 during Friday trading hours, hitting $4.67. The stock recorded a trading volume of 828,288 shares, compared to an average volume of 9,954,234 shares. The company has a market capitalization of $11.50 billion, a PE ratio of 4.62, a PEG ratio of 0.27 and a beta of 0.37. Lufax has a 12-month low of $4.19 and a 12-month high of $15.94. The stock’s 50-day moving average is $5.40 and its 200-day moving average is $6.46. The company has a debt ratio of 0.12, a current ratio of 1.54 and a quick ratio of 1.54.
The company also recently disclosed an unavailable dividend, which will be paid on Friday, April 29. Shareholders of record on Friday, April 8 will receive a dividend of $0.32. The ex-date of this dividend is Thursday, April 7.
A number of brokerages have recently released reports on LU. Macquarie downgraded Lufax from an “outperforming” rating to a “neutral” rating and set a price target of $5.00 for the company. in a report Wednesday. Zacks Investment Research downgraded Lufax from a “buy” rating to a “hold” rating in a Wednesday, January 26 report. Four investment analysts gave the stock a hold rating and two gave the stock a buy rating. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $9.13.
Hedge funds have recently been buying and selling shares of the company. Morgan Stanley increased its stake in Lufax shares by 1,592.0% during the second quarter. Morgan Stanley now owns 1,229,550 shares of the company worth $13,895,000 after buying an additional 1,156,881 shares in the last quarter. Royal Bank of Canada increased its stake in Lufax shares by 453.1% during the third quarter. Royal Bank of Canada now owns 13,661 shares of the company worth $95,000 after buying an additional 11,191 shares in the last quarter. Geode Capital Management LLC increased its stake in Lufax shares by 41.6% during the fourth quarter. Geode Capital Management LLC now owns 858,691 shares of the company worth $4,834,000 after purchasing an additional 252,306 shares in the last quarter. Invesco Ltd. increased its stake in Lufax shares by 116.9% during the fourth quarter. Invesco Ltd. now owns 1,054,411 shares of the company worth $5,936,000 after purchasing an additional 568,201 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in Lufax shares by 7.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,507,362 shares of the company worth $14,116,000 after purchasing an additional 179,587 shares in the last quarter. 24.30% of the shares are held by institutional investors and hedge funds.
About Lufax (Get a rating)
Lufax Holding Ltd operates a personal financial services technology platform in China. It offers loan products, including unsecured loans and secured loans, as well as consumer loans. The company also provides wealth management platforms, such as Lufax (Lu.com), Lu International (Singapore) and Lu International (Hong Kong) to middle class and affluent investors to invest in products and portfolios; retail credit facilitation services platform that provides small business owners with lending solutions; and technology empowerment solutions for financial institutions.
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