Prudential Financial Inc. Acquires 262,671 Shares of Nu Holdings Ltd. $NU

Prudential Financial Inc. grew its stake in Nu Holdings Ltd. (NYSE:NU) by 186.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 403,641 shares of the company’s stock after acquiring an additional 262,671 shares during the period. Prudential Financial Inc.’s holdings in NU were worth $5,675,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Price T Rowe Associates Inc. MD boosted its position in NU by 24.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 54,435,568 shares of the company’s stock valued at $557,422,000 after purchasing an additional 10,785,851 shares during the last quarter. Jennison Associates LLC boosted its holdings in shares of NU by 38.1% in the 2nd quarter. Jennison Associates LLC now owns 41,962,679 shares of the company’s stock valued at $575,728,000 after buying an additional 11,567,865 shares during the last quarter. Kontiki Capital Management HK Ltd. grew its stake in shares of NU by 54.3% in the first quarter. Kontiki Capital Management HK Ltd. now owns 32,575,725 shares of the company’s stock valued at $333,575,000 after buying an additional 11,465,700 shares in the last quarter. Legal & General Group Plc grew its stake in shares of NU by 0.7% in the second quarter. Legal & General Group Plc now owns 28,745,580 shares of the company’s stock valued at $394,389,000 after buying an additional 194,423 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in NU by 9.3% during the first quarter. Northern Trust Corp now owns 27,869,591 shares of the company’s stock worth $285,385,000 after buying an additional 2,373,500 shares during the last quarter. Institutional investors and hedge funds own 84.02% of the company’s stock.

NU Trading Up 1.2%

Shares of NU stock opened at $17.47 on Friday. Nu Holdings Ltd. has a 12-month low of $9.01 and a 12-month high of $17.56. The company has a market capitalization of $84.16 billion, a PE ratio of 34.25, a price-to-earnings-growth ratio of 0.83 and a beta of 1.08. The firm has a 50 day moving average price of $15.77 and a two-hundred day moving average price of $14.13. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.29.

NU (NYSE:NU) last posted its earnings results on Thursday, November 13th. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.15 by $0.02. The company had revenue of $4.17 billion for the quarter, compared to the consensus estimate of $3.96 billion. NU had a return on equity of 30.12% and a net margin of 17.97%. As a group, analysts predict that Nu Holdings Ltd. will post 0.58 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Santander upgraded shares of NU to a “neutral” rating in a research note on Monday, August 25th. Susquehanna lifted their price target on NU from $17.00 to $19.00 and gave the stock a “positive” rating in a report on Friday, November 14th. Bradesco Corretora raised NU to an “outperform” rating and set a $17.00 price target on the stock in a research report on Monday, August 25th. UBS Group raised their price objective on NU from $15.60 to $16.00 and gave the company a “neutral” rating in a research report on Thursday, October 16th. Finally, JPMorgan Chase & Co. lifted their target price on NU from $17.00 to $18.00 and gave the stock an “overweight” rating in a research note on Thursday, November 20th. Eight analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $17.44.

NU Company Profile

Nu Holdings Ltd. is a holding company, which engages in the provision of digital banking services. The company was founded by David Vélez Osorno, Cristina Helena Zingaretti Junqueira, and Adam Edward Wible on February 26, 2016 and is headquartered in George Town, Cayman Islands.