Allianz Asset Management GmbH Lowers Stake in Lufax Holding Ltd. Sponsored ADR $LU

Allianz Asset Management GmbH lessened its holdings in Lufax Holding Ltd. Sponsored ADR (NYSE:LU) by 19.3% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,253,309 shares of the company’s stock after selling 300,123 shares during the quarter. Allianz Asset Management GmbH’s holdings in Lufax were worth $5,088,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Lufax in the 2nd quarter worth approximately $28,000. May Hill Capital LLC purchased a new position in Lufax during the second quarter valued at $34,000. Hudson Bay Capital Management LP bought a new stake in Lufax in the second quarter worth $58,000. Headlands Technologies LLC grew its stake in shares of Lufax by 245.1% in the second quarter. Headlands Technologies LLC now owns 26,928 shares of the company’s stock worth $75,000 after acquiring an additional 19,126 shares during the last quarter. Finally, Asset Management One Co. Ltd. increased its holdings in shares of Lufax by 14.4% during the second quarter. Asset Management One Co. Ltd. now owns 40,140 shares of the company’s stock valued at $112,000 after acquiring an additional 5,043 shares in the last quarter. 69.14% of the stock is currently owned by hedge funds and other institutional investors.

Lufax Price Performance

LU opened at $2.94 on Wednesday. The firm has a market cap of $2.55 billion, a PE ratio of -3.82 and a beta of 0.63. The stock has a 50-day moving average price of $2.66 and a 200-day moving average price of $2.93. Lufax Holding Ltd. Sponsored ADR has a 1 year low of $2.30 and a 1 year high of $4.57.

Lufax Profile

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.