KBC Group NV Acquires 902,306 Shares of Nu Holdings Ltd. $NU

KBC Group NV boosted its stake in shares of Nu Holdings Ltd. (NYSE:NU) by 86.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,943,921 shares of the company’s stock after acquiring an additional 902,306 shares during the quarter. KBC Group NV’s holdings in NU were worth $27,934,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of NU. Caitong International Asset Management Co. Ltd raised its position in NU by 14,810.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,491 shares of the company’s stock worth $25,000 after purchasing an additional 1,481 shares during the last quarter. LOM Asset Management Ltd acquired a new stake in shares of NU in the 4th quarter valued at $25,000. Zions Bancorporation National Association UT acquired a new stake in shares of NU in the 4th quarter valued at $27,000. Cornerstone Planning Group LLC raised its position in shares of NU by 5,448.3% during the fourth quarter. Cornerstone Planning Group LLC now owns 1,609 shares of the company’s stock worth $27,000 after acquiring an additional 1,580 shares during the last quarter. Finally, Morse Asset Management Inc acquired a new position in shares of NU during the fourth quarter valued at $31,000. 84.02% of the stock is owned by institutional investors.

NU Stock Up 2.8%

Shares of NYSE NU opened at $14.38 on Wednesday. Nu Holdings Ltd. has a 52-week low of $11.20 and a 52-week high of $18.98. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.58 and a current ratio of 0.58. The stock has a market cap of $69.85 billion, a P/E ratio of 22.13, a P/E/G ratio of 0.56 and a beta of 0.95. The firm has a 50 day moving average price of $12.92 and a 200 day moving average price of $14.73.

NU (NYSE:NU) last announced its earnings results on Friday, May 15th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.01). NU had a return on equity of 30.91% and a net margin of 18.20%.The company had revenue of $5.32 billion for the quarter, compared to analyst estimates of $5.06 billion. Analysts expect that Nu Holdings Ltd. will post 0.83 EPS for the current year.

NU announced that its Board of Directors has initiated a stock repurchase plan on Thursday, June 4th that allows the company to repurchase $0.00 in outstanding shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling at NU

In other news, Director Anita M. Sands sold 21,000 shares of NU stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $12.24, for a total value of $257,040.00. Following the sale, the director directly owned 162,150 shares in the company, valued at $1,984,716. This trade represents a 11.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on NU shares. UBS Group decreased their price target on NU from $18.10 to $16.90 and set a “buy” rating on the stock in a report on Wednesday, May 20th. CICC Research initiated coverage on NU in a report on Tuesday, April 14th. They set an “outperform” rating and a $18.00 price objective for the company. Needham & Company LLC began coverage on shares of NU in a research report on Friday, June 26th. They set a “buy” rating and a $17.00 target price on the stock. Zacks Research lowered shares of NU from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 24th. Finally, Bank of America reiterated an “underperform” rating on shares of NU in a research report on Tuesday, June 2nd. Ten analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, NU currently has an average rating of “Moderate Buy” and a consensus price target of $17.24.

NU Company Profile

Nu Holdings Ltd (NYSE: NU), commonly known by its consumer brand Nubank, is a Latin American financial technology company that provides digital banking and financial services through a mobile-first platform. The company’s core offerings include no-fee digital checking accounts, credit cards, personal loans, payments and transfers, and a range of savings and investment products. Nubank emphasizes a streamlined customer experience delivered via its smartphone app, combined with data-driven underwriting and automated customer service tools.

Founded in 2013 by David Vélez, Cristina Junqueira and Edward Wible, Nu grew rapidly by targeting underbanked and digitally savvy consumers in Latin America with low-fee, transparent products.