Lufax (NYSE:LU) Upgraded at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Lufax (NYSE:LU) from a neutral rating to an overweight rating in a research report sent to investors on Tuesday, Marketbeat Ratings reports. The brokerage currently has $2.00 price target on the stock.

Other equities analysts have also issued reports about the stock. Zacks Research upgraded shares of Lufax to a “hold” rating in a report on Tuesday, April 21st. Weiss Ratings reiterated a “sell (d)” rating on shares of Lufax in a report on Monday, May 18th. Finally, Wall Street Zen raised Lufax from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Lufax presently has a consensus rating of “Hold” and an average target price of $2.00.

Lufax Price Performance

Shares of LU stock opened at $1.59 on Tuesday. Lufax has a 1-year low of $1.20 and a 1-year high of $4.57. The firm has a market cap of $1.38 billion, a PE ratio of -2.04 and a beta of 0.79. The company has a 50-day moving average of $1.41 and a two-hundred day moving average of $1.98.

Institutional Trading of Lufax

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LU. Ramsey Quantitative Systems acquired a new stake in Lufax during the 2nd quarter worth $199,000. Public Employees Retirement System of Ohio grew its position in shares of Lufax by 2.8% during the first quarter. Public Employees Retirement System of Ohio now owns 246,500 shares of the company’s stock worth $461,000 after acquiring an additional 6,600 shares during the last quarter. Barometer Capital Management Inc. increased its holdings in shares of Lufax by 7,538.6% in the 1st quarter. Barometer Capital Management Inc. now owns 534,700 shares of the company’s stock valued at $1,000,000 after acquiring an additional 527,700 shares during the period. California Public Employees Retirement System increased its holdings in shares of Lufax by 2.4% in the 1st quarter. California Public Employees Retirement System now owns 329,089 shares of the company’s stock valued at $615,000 after acquiring an additional 7,608 shares during the period. Finally, Bank of New York Mellon Corp raised its position in Lufax by 4.7% in the 1st quarter. Bank of New York Mellon Corp now owns 318,365 shares of the company’s stock valued at $595,000 after purchasing an additional 14,224 shares during the last quarter. Institutional investors and hedge funds own 69.14% of the company’s stock.

About Lufax

Lufax (NYSE: LU) is a leading provider of online wealth management and personal finance services in China. Established in 2011 as a spin-off from Ping An Insurance (Group) Company of China, Lufax has developed a digital ecosystem designed to match retail and institutional investors with a diverse array of financial products. The company went public on the New York Stock Exchange in October 2020, underscoring its ambition to expand beyond its domestic market.

The firm’s core business activities include peer-to-peer lending, consumer finance, supply chain and small-business lending, as well as online asset management.