Legal & General Group Plc Trims Stock Holdings in Nu Holdings Ltd. $NU

Legal & General Group Plc decreased its stake in Nu Holdings Ltd. (NYSE:NU) by 0.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 29,940,260 shares of the company’s stock after selling 236,147 shares during the period. Legal & General Group Plc’s holdings in NU were worth $501,200,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Sowell Financial Services LLC increased its position in NU by 4.8% in the fourth quarter. Sowell Financial Services LLC now owns 12,952 shares of the company’s stock worth $217,000 after buying an additional 599 shares in the last quarter. MBM Wealth Consultants LLC boosted its stake in shares of NU by 1.2% in the fourth quarter. MBM Wealth Consultants LLC now owns 50,284 shares of the company’s stock worth $842,000 after acquiring an additional 607 shares during the period. Cornerstone Wealth Group LLC boosted its stake in shares of NU by 1.2% in the fourth quarter. Cornerstone Wealth Group LLC now owns 51,724 shares of the company’s stock worth $866,000 after acquiring an additional 621 shares during the period. Euro Pacific Asset Management LLC boosted its stake in shares of NU by 0.3% in the fourth quarter. Euro Pacific Asset Management LLC now owns 233,618 shares of the company’s stock worth $3,642,000 after acquiring an additional 708 shares during the period. Finally, Wisconsin Capital Management LLC boosted its stake in shares of NU by 1.1% in the fourth quarter. Wisconsin Capital Management LLC now owns 68,284 shares of the company’s stock worth $1,143,000 after acquiring an additional 737 shares during the period. Hedge funds and other institutional investors own 84.02% of the company’s stock.

Insider Buying and Selling

In related news, CEO Cristina Helena Zing Junqueira sold 300,000 shares of the stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $14.81, for a total transaction of $4,443,000.00. Following the completion of the transaction, the chief executive officer directly owned 2,312,338 shares of the company’s stock, valued at approximately $34,245,725.78. This represents a 11.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Anita M. Sands sold 21,000 shares of the 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 transaction, the director directly owned 162,150 shares of the company’s stock, valued at approximately $1,984,716. The trade was a 11.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Zacks Research lowered NU from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 24th. Weiss Ratings lowered NU from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, May 13th. Susquehanna upped their price objective on NU from $19.00 to $22.00 and gave the stock a “positive” rating in a research note on Tuesday, January 27th. UBS Group dropped their price objective on NU from $18.10 to $16.90 and set a “buy” rating for the company in a research note on Wednesday, May 20th. Finally, Itau BBA Securities reaffirmed an “outperform” rating on shares of NU in a research note on Tuesday, March 17th. Eleven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $18.39.

NU Stock Performance

NYSE NU opened at $12.74 on Tuesday. The business has a 50-day moving average price of $14.09 and a 200-day moving average price of $15.74. Nu Holdings Ltd. has a twelve month low of $11.71 and a twelve month high of $18.98. The firm has a market cap of $61.84 billion, a price-to-earnings ratio of 19.59, a price-to-earnings-growth ratio of 0.51 and a beta of 1.01. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.36.

NU (NYSE:NU) last announced its quarterly earnings results on Friday, May 15th. The company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.01). NU had a net margin of 18.20% and a return on equity of 30.91%. The firm had revenue of $5.32 billion for the quarter, compared to the consensus estimate of $5.06 billion. As a group, equities research analysts predict that Nu Holdings Ltd. will post 0.84 EPS for the current fiscal year.

About NU

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.