Alpine Investment Management Ltd Has $20.75 Million Stake in Lufax Holding Ltd. Sponsored ADR $LU

Alpine Investment Management Ltd grew its holdings in shares of Lufax Holding Ltd. Sponsored ADR (NYSE:LU) by 91.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,106,500 shares of the company’s stock after acquiring an additional 3,881,500 shares during the quarter. Lufax comprises 5.4% of Alpine Investment Management Ltd’s investment portfolio, making the stock its 5th largest position. Alpine Investment Management Ltd’s holdings in Lufax were worth $20,753,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. Norges Bank bought a new stake in Lufax in the 4th quarter worth approximately $8,067,000. Arrowstreet Capital Limited Partnership lifted its position in 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 buying an additional 2,080,678 shares during the last quarter. Yunqi Capital Ltd lifted its position in Lufax by 8.4% in the 3rd quarter. Yunqi Capital Ltd now owns 10,950,138 shares of the company’s stock worth $44,458,000 after buying an additional 852,098 shares during the last quarter. Canada Pension Plan Investment Board bought a new stake in Lufax in the 2nd quarter worth approximately $2,276,000. Finally, Legal & General Group Plc lifted its position in Lufax by 106.5% in the 4th quarter. Legal & General Group Plc now owns 1,560,906 shares of the company’s stock worth $3,996,000 after buying an additional 804,923 shares during the last quarter. Institutional investors own 69.14% of the company’s stock.

Lufax Stock Performance

LU opened at $1.34 on Friday. Lufax Holding Ltd. Sponsored ADR has a 52-week low of $1.29 and a 52-week high of $4.57. The stock has a market capitalization of $1.16 billion, a PE ratio of -1.71 and a beta of 0.76. The stock’s 50 day moving average price is $1.78 and its 200-day moving average price is $2.28.

Lufax (NYSE:LU) last posted its earnings results on Monday, March 30th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.19). The firm had revenue of $724.89 million during the quarter, compared to analysts’ expectations of $761.36 million. Research analysts forecast that Lufax Holding Ltd. Sponsored ADR will post -0.02 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

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.