Macquarie Downgrades Lufax Holding (LU)

On March 14, 2023, Macquarie downgraded their outlook for Lufax Holding (NYSE:LU) from Neutral to Underperform.

Analyst Price Forecast Suggests 93.16% Upside

As of March 14, 2023, the average one-year price target for Lufax Holding is $3.71. The forecasts range from a low of $1.41 to a high of $9.24. The average price target represents an increase of 93.16% from its latest reported closing price of $1.92.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Lufax Holding is $7,116MM, a decrease of 87.76%. The projected annual non-GAAP EPS is $0.41.

What are Large Shareholders Doing?

LU / Lufax Holding Ltd Shares Held by Institutions

Farallon Capital Management holds 38,436K shares representing 1.68% ownership of the company. In it's prior filing, the firm reported owning 20,536K shares, representing an increase of 46.57%. The firm increased its portfolio allocation in LU by 57.63% over the last quarter.

Krane Funds Advisors holds 33,683K shares representing 1.47% ownership of the company. In it's prior filing, the firm reported owning 28,803K shares, representing an increase of 14.49%. The firm decreased its portfolio allocation in LU by 29.64% over the last quarter.

KWEB - KraneShares CSI China Internet ETF holds 31,034K shares representing 1.35% ownership of the company. In it's prior filing, the firm reported owning 26,373K shares, representing an increase of 15.02%. The firm decreased its portfolio allocation in LU by 28.17% over the last quarter.

Baillie Gifford & holds 25,442K shares representing 1.11% ownership of the company. In it's prior filing, the firm reported owning 25,264K shares, representing an increase of 0.70%. The firm decreased its portfolio allocation in LU by 70.09% over the last quarter.

Norges Bank holds 15,166K shares representing 0.66% ownership of the company. In it's prior filing, the firm reported owning 0K shares, representing an increase of 100.00%.

What is the Fund Sentiment?

There are 286 funds or institutions reporting positions in Lufax Holding. This is an increase of 14 owner(s) or 5.15% in the last quarter. Average portfolio weight of all funds dedicated to LU is 0.16%, a decrease of 14.57%. Total shares owned by institutions increased in the last three months by 16.27% to 491,612K shares. The put/call ratio of LU is 0.09, indicating a bullish outlook.

Lufax Holding Background Information
(This description is provided by the company.)

Lufax Holding Ltd is a leading technology-empowered personal financial services platform in China. Lufax Holding Ltd primarily utilizes its customer-centric product offerings and offline-to-online channels to provide retail credit facilitation services to small business owners and salaried workers in China as well as tailor-made wealth management solutions to China's rapidly growing middle class. The Company has implemented a unique, capital-light, hub-and-spoke business model combining purpose-built technology applications, extensive data, and financial services expertise to effectively facilitate the right products to the right customers.

This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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