QRG Capital Management Inc. Sells 9,733 Shares of Lufax Holding Ltd. Sponsored ADR $LU

QRG Capital Management Inc. cut its stake in Lufax Holding Ltd. Sponsored ADR (NYSE:LU) by 41.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,978 shares of the company’s stock after selling 9,733 shares during the quarter. QRG Capital Management Inc.’s holdings in Lufax were worth $39,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LU. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Lufax by 44.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,017 shares of the company’s stock worth $71,000 after buying an additional 7,417 shares during the period. Russell Investments Group Ltd. purchased a new stake in shares of Lufax in the 1st quarter worth about $101,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Lufax by 11.2% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 70,969 shares of the company’s stock worth $211,000 after buying an additional 7,122 shares during the period. Amundi grew its position in shares of Lufax by 76.8% in the 1st quarter. Amundi now owns 97,223 shares of the company’s stock worth $282,000 after buying an additional 42,236 shares during the period. Finally, SG Americas Securities LLC purchased a new stake in shares of Lufax in the 1st quarter worth about $533,000. 69.14% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Wall Street Zen raised shares of Lufax from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Lufax in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Sell” and a consensus price target of $3.20.

Lufax Stock Performance

Shares of LU stock opened at $3.62 on Monday. Lufax Holding Ltd. Sponsored ADR has a one year low of $2.22 and a one year high of $4.57. The company’s 50-day moving average is $3.22 and its 200 day moving average is $2.96. The company has a market capitalization of $3.14 billion, a price-to-earnings ratio of -4.70 and a beta of 0.76.

About Lufax

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.