abrdn plc Sells 34,305 Shares of Lufax Holding Ltd (NYSE:LU)

abrdn plc decreased its position in Lufax Holding Ltd (NYSE:LU) by 7.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 402,981 shares of the company’s stock after selling 34,305 shares during the period. abrdn plc’s holdings in Lufax were worth $967,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. JPMorgan Chase & Co. raised its position in Lufax by 27.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 63,235 shares of the company’s stock valued at $221,000 after buying an additional 13,630 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of Lufax by 14.8% during the 3rd quarter. Franklin Resources Inc. now owns 65,584 shares of the company’s stock worth $226,000 after acquiring an additional 8,446 shares in the last quarter. Soltis Investment Advisors LLC acquired a new stake in shares of Lufax in the third quarter valued at approximately $52,000. Geode Capital Management LLC lifted its position in shares of Lufax by 35.7% in the third quarter. Geode Capital Management LLC now owns 123,616 shares of the company’s stock worth $431,000 after purchasing an additional 32,536 shares in the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new position in Lufax during the third quarter worth $1,479,000. 69.14% of the stock is currently owned by institutional investors.

Lufax Trading Up 6.3 %

NYSE:LU opened at $2.63 on Tuesday. The stock has a market capitalization of $2.28 billion, a PE ratio of -3.41 and a beta of 0.84. Lufax Holding Ltd has a 1-year low of $2.00 and a 1-year high of $4.94. The firm has a fifty day simple moving average of $2.48 and a 200 day simple moving average of $2.62.

Analyst Ratings Changes

Separately, Jefferies Financial Group reissued a “hold” rating and set a $3.20 price target on shares of Lufax in a research report on Thursday, October 24th.

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.