Lufax Holding Ltd (NYSE:LU) Plans $0.16 — Dividend

Lufax Holding Ltd (NYSE:LU) announced a — dividend on Tuesday, March 26th, Wall Street Journal reports. Stockholders of record on Tuesday, June 4th will be given a dividend of 0.156 per share on Tuesday, August 6th. This represents a dividend yield of 5.8%. The ex-dividend date of this dividend is Tuesday, June 4th.

Lufax Stock Down 0.7 %

Shares of NYSE:LU traded down $0.03 on Tuesday, hitting $4.32. 4,560,977 shares of the company traded hands, compared to its average volume of 5,634,466. The stock has a 50 day simple moving average of $2.72 and a 200-day simple moving average of $3.37. Lufax has a 52 week low of $2.11 and a 52 week high of $8.72. The company has a quick ratio of 1.59, a current ratio of 1.68 and a debt-to-equity ratio of 0.06. The company has a market cap of $2.48 billion, a PE ratio of 18.98, a PEG ratio of 1.88 and a beta of 0.81.

Institutional Investors Weigh In On Lufax

A number of institutional investors have recently made changes to their positions in the stock. Capital World Investors lifted its stake in Lufax by 6.3% in the first quarter. Capital World Investors now owns 56,470,472 shares of the company’s stock worth $314,541,000 after acquiring an additional 3,341,655 shares during the last quarter. BlackRock Inc. lifted its stake in Lufax by 1,298.8% in the first quarter. BlackRock Inc. now owns 28,468,748 shares of the company’s stock worth $158,571,000 after acquiring an additional 26,433,557 shares during the last quarter. Vanguard Group Inc. lifted its stake in Lufax by 1.1% in the third quarter. Vanguard Group Inc. now owns 26,711,214 shares of the company’s stock worth $67,846,000 after acquiring an additional 288,750 shares during the last quarter. Baillie Gifford & Co. lifted its stake in Lufax by 0.7% in the fourth quarter. Baillie Gifford & Co. now owns 25,442,454 shares of the company’s stock worth $49,358,000 after acquiring an additional 178,613 shares during the last quarter. Finally, Norges Bank purchased a new position in Lufax in the fourth quarter worth approximately $29,422,000. 69.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Morgan Stanley increased their price target on shares of Lufax from $3.00 to $4.80 and gave the stock an “equal weight” rating in a research report on Tuesday, January 2nd. Bank of America cut shares of 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 assigned a buy rating to the stock. Based on data from MarketBeat.com, Lufax currently has an average rating of “Hold” and an average target price of $6.91.

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.