Lufax Holding Ltd Plans Semi-annual Dividend of $0.17 (NYSE:LU)

Lufax Holding Ltd (NYSE:LU – Get Rating) declared a semi-annual dividend on Friday, August 5th, Wall Street Journal reports. Investors of record on Thursday, October 13th will be paid a dividend of 0.17 per share on Friday, October 28th. This represents a yield of 11%. The ex-dividend date of this dividend is Wednesday, October 12th.

Lufax Trading Down 5.5 %

Shares of LU opened at $4.26 on Friday. The business’s 50-day moving average price is $5.67 and its 200 day moving average price is $5.61. The stock has a market capitalization of $9.74 billion, a P/E ratio of 3.94, a P/E/G ratio of 0.45 and a beta of -0.32. Lufax has a 1-year low of $4.09 and a 1-year high of $9.11. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.12.

Lufax (NYSE:LU – Get Rating) last announced its quarterly earnings data on Wednesday, May 25th. The company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.03. Lufax had a return on equity of 18.65% and a net margin of 26.75%. The firm had revenue of $2.73 billion during the quarter, compared to analyst estimates of $2.57 billion. During the same period last year, the company posted $0.30 EPS. Analysts expect that Lufax will post 0.96 earnings per share for the current year.

Institutional Investors Weigh In On Lufax

Institutional investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. lifted its holdings in Lufax by 1,344.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 5,693 shares of the company’s stock worth $31,000 after purchasing an additional 5,299 shares during the last quarter. Sei Investments Co. lifted its holdings in Lufax by 72.0% in the 1st quarter. Sei Investments Co. now owns 19,002 shares of the company’s stock worth $106,000 after purchasing an additional 7,957 shares during the last quarter. American Century Companies Inc. increased its position in Lufax by 157.7% in the 1st quarter. American Century Companies Inc. now owns 66,732 shares of the company’s stock worth $372,000 after buying an additional 40,839 shares during the period. APG Asset Management N.V. increased its position in Lufax by 186.0% in the 1st quarter. APG Asset Management N.V. now owns 106,720 shares of the company’s stock worth $534,000 after buying an additional 69,400 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec increased its position in Lufax by 2.6% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 111,871 shares of the company’s stock worth $623,000 after buying an additional 2,871 shares during the period. 24.59% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have commented on LU shares. Daiwa Capital Markets started coverage on Lufax in a research report on Wednesday, July 27th. They set a “buy” rating and a $6.40 price objective for the company. CLSA lowered Lufax from an “outperform” rating to an “underperform” rating in a research report on Friday. Finally, CICC Research started coverage on Lufax in a research report on Monday, May 9th. They set an “outperform” rating for the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $7.60.

Lufax Company Profile

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Lufax Holding Ltd operates a technology-empowered personal financial services platform in China. It offers loan products, including unsecured loans and secured loans, as well as consumer finance loans. The company also provides wealth management platforms, such as Lufax (Lu.com), Lu International (Singapore), and Lu International (Hong Kong) to the middle class and affluent investors to invest in products and portfolios; retail credit facilitation services platform that offers small business owners with lending solutions; and technology empowerment solutions for financial institutions.