Lufax (LU) Expected to Release Quarterly Earnings on Thursday

Lufax (NYSE:LU) is anticipated to post its results before the market opens on Thursday, July 30th. Analysts expect Lufax to post earnings of $1.08 per share and revenue of $2.2232 billion for the quarter.

Lufax Trading Up 4.7%

Shares of NYSE LU opened at $1.45 on Tuesday. The stock’s 50-day moving average is $1.43 and its 200 day moving average is $2.00. The stock has a market cap of $1.25 billion, a price-to-earnings ratio of -1.85 and a beta of 0.79. Lufax has a 1-year low of $1.20 and a 1-year high of $4.57.

Wall Street Analyst Weigh In

LU has been the topic of a number of recent research reports. Weiss Ratings reiterated a “sell (d)” rating on shares of Lufax in a research report on Monday, May 18th. Zacks Research upgraded shares of Lufax to a “hold” rating in a report on Tuesday, April 21st. Wall Street Zen raised shares of Lufax from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Lufax in a report on Friday, April 17th. They set a “neutral” rating and a $2.00 target price on the stock. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Lufax currently has an average rating of “Reduce” and an average target price of $2.00.

Hedge Funds Weigh In On Lufax

A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in shares of Lufax by 2.8% during the third quarter. Vanguard Group Inc. now owns 12,399,445 shares of the company’s stock worth $50,342,000 after purchasing an additional 335,480 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Lufax by 4.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,802,005 shares of the company’s stock valued at $14,853,000 after purchasing an additional 240,225 shares in the last quarter. Norges Bank purchased a new position in Lufax during the fourth quarter valued at $8,067,000. Arrowstreet Capital Limited Partnership raised its position in shares of Lufax by 2,378.4% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 2,168,162 shares of the company’s stock worth $6,049,000 after purchasing an additional 2,080,678 shares during the last quarter. Finally, UBS Group AG raised its holdings in Lufax by 82.5% in the third quarter. UBS Group AG now owns 1,571,180 shares of the company’s stock worth $6,379,000 after buying an additional 710,341 shares during the last quarter. 69.14% of the stock is owned by hedge funds and other institutional investors.

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.