Charles Schwab Investment Management Inc. Acquires 936,048 Shares of Lufax Holding Ltd (NYSE:LU)

Charles Schwab Investment Management Inc. boosted its stake in shares of Lufax Holding Ltd (NYSE:LU) by 43.2% during the third quarter, Holdings Channel.com reports. The firm owned 3,102,895 shares of the company’s stock after purchasing an additional 936,048 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Lufax were worth $10,829,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Panagora Asset Management Inc. purchased a new position in shares of Lufax in the 2nd quarter valued at approximately $26,000. SIH Partners LLLP acquired a new stake in Lufax during the second quarter worth about $65,000. SG Americas Securities LLC purchased a new stake in Lufax during the third quarter worth $66,000. Simplicity Wealth LLC acquired a new position in Lufax in the 2nd quarter worth about $79,000. Finally, Yeomans Consulting Group Inc. purchased a new stake in Lufax in the 2nd quarter worth $99,000. Institutional investors own 69.14% of the company’s stock.

Lufax Trading Up 14.1 %

NYSE:LU opened at $2.92 on Tuesday. The stock has a fifty day moving average price of $2.84 and a 200 day moving average price of $2.74. Lufax Holding Ltd has a 12-month low of $2.00 and a 12-month high of $4.94. The firm has a market cap of $2.53 billion, a PE ratio of -3.79 and a beta of 0.85.

Lufax (NYSE:LU) last announced its quarterly earnings data on Monday, October 21st. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.15). Lufax had a negative net margin of 12.75% and a negative return on equity of 3.63%. The company had revenue of $789.93 million during the quarter. During the same period in the previous year, the firm earned $0.04 EPS. Equities analysts forecast that Lufax Holding Ltd will post -0.48 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Jefferies Financial Group reissued a “hold” rating and issued a $3.20 price objective on shares of Lufax in a research note on Thursday, October 24th. Bank of America dropped their price objective on shares of Lufax from $5.22 to $2.75 and set a “neutral” rating for the company in a report on Friday, August 23rd.

Lufax Profile

Lufax Holding Ltd operates as a financial service empowering institution for small and micro businesses in China. The company offers loan products, including general unsecured loans and secured loans, as well as consumer finance loans. It also provides wealth management products, such as asset management plans, mutual fund products, private investment fund products, and trust products.