California Public Employees Retirement System Sells 943,249 Shares of Lufax Holding Ltd (NYSE:LU)

California Public Employees Retirement System lowered its stake in shares of Lufax Holding Ltd (NYSE:LU) by 76.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 298,672 shares of the company’s stock after selling 943,249 shares during the period. California Public Employees Retirement System owned 0.05% of Lufax worth $917,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Asset Management One Co. Ltd. increased its holdings in Lufax by 11.1% in the 3rd quarter. Asset Management One Co. Ltd. now owns 163,818 shares of the company’s stock valued at $174,000 after acquiring an additional 16,354 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Lufax by 5.5% in the third quarter. Bank of New York Mellon Corp now owns 1,808,642 shares of the company’s stock worth $1,917,000 after buying an additional 93,676 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Lufax by 16.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,326,193 shares of the company’s stock valued at $4,586,000 after buying an additional 615,524 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Lufax by 21.0% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,384,256 shares of the company’s stock valued at $1,467,000 after buying an additional 240,000 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd grew its holdings in Lufax by 44.4% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 654,287 shares of the company’s stock valued at $694,000 after buying an additional 201,110 shares in the last quarter. Hedge funds and other institutional investors own 69.14% of the company’s stock.

Analyst Ratings Changes

Separately, Bank of America downgraded Lufax from a “buy” rating to a “neutral” rating in a research report on Thursday, January 25th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $6.91.

Lufax Trading Up 1.3 %

Shares of LU stock opened at $4.70 on Monday. The company has a market cap of $2.69 billion, a PE ratio of -33.57, a price-to-earnings-growth ratio of 0.64 and a beta of 0.82. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.70 and a quick ratio of 1.70. The stock’s 50 day simple moving average is $3.85 and its two-hundred day simple moving average is $3.37. Lufax Holding Ltd has a 1 year low of $2.11 and a 1 year high of $7.64.

Lufax (NYSE:LU) last released its quarterly earnings results on Thursday, March 21st. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.18). The company had revenue of $965.76 million for the quarter, compared to analysts’ expectations of $1.06 billion. Lufax had a negative net margin of 2.17% and a negative return on equity of 0.72%. Research analysts predict that Lufax Holding Ltd will post 0.21 earnings per share for the current year.

Lufax Cuts Dividend

The company also recently announced a — dividend, which will be paid on Tuesday, August 6th. Stockholders of record on Tuesday, June 4th will be issued a $0.156 dividend. The ex-dividend date is Tuesday, June 4th. This represents a dividend yield of 5.8%. Lufax’s dividend payout ratio (DPR) is presently -178.57%.

Lufax Company Profile

Lufax Holding Ltd operates a technology-empowered personal financial services platform in China. The company offers loan products, including unsecured loans and secured loans, as well as consumer finance loans. It 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.