The Manufacturers Life Insurance Company Has $13 Million Stock Holdings in Nu Holdings Ltd. $NU

The Manufacturers Life Insurance Company boosted its stake in shares of Nu Holdings Ltd. (NYSE:NU) by 8.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 904,485 shares of the company’s stock after purchasing an additional 73,818 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in NU were worth $12,997,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd raised its position in shares of NU by 14,810.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,491 shares of the company’s stock valued at $25,000 after purchasing an additional 1,481 shares during the period. LOM Asset Management Ltd bought a new stake in shares of NU during the 4th quarter worth about $25,000. Zions Bancorporation National Association UT bought a new stake in shares of NU during the 4th quarter worth about $27,000. Cornerstone Planning Group LLC grew its stake in NU by 5,448.3% in the 4th quarter. Cornerstone Planning Group LLC now owns 1,609 shares of the company’s stock valued at $27,000 after buying an additional 1,580 shares during the last quarter. Finally, Morse Asset Management Inc acquired a new position in NU in the 4th quarter valued at about $31,000. 84.02% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at NU

In other news, Director Anita M. Sands sold 21,000 shares of the company’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $12.24, for a total transaction of $257,040.00. Following the completion of the sale, the director directly owned 162,150 shares in the company, valued at approximately $1,984,716. This represents a 11.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

NU Trading Up 0.1%

Shares of NU stock opened at $14.35 on Monday. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.36. The stock has a market cap of $69.65 billion, a P/E ratio of 22.07, a price-to-earnings-growth ratio of 0.57 and a beta of 0.94. The stock has a 50 day simple moving average of $13.19 and a 200 day simple moving average of $14.56. Nu Holdings Ltd. has a 1 year low of $11.20 and a 1 year high of $18.98.

NU (NYSE:NU) last issued its quarterly earnings results on Friday, May 15th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.01). NU had a return on equity of 30.91% and a net margin of 18.20%.The company had revenue of $5.32 billion for the quarter, compared to analyst estimates of $5.06 billion. On average, research analysts predict that Nu Holdings Ltd. will post 0.83 earnings per share for the current fiscal year.

NU declared that its board has approved a share buyback plan on Thursday, June 4th that authorizes the company to repurchase $0.00 in shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Needham & Company LLC started coverage on shares of NU in a report on Friday, June 26th. They issued a “buy” rating and a $17.00 price target on the stock. JPMorgan Chase & Co. boosted their price objective on NU from $18.00 to $20.00 and gave the stock an “overweight” rating in a report on Tuesday, July 7th. Bank of America reaffirmed an “underperform” rating on shares of NU in a research report on Tuesday, June 2nd. CICC Research assumed coverage on NU in a research note on Tuesday, April 14th. They set an “outperform” rating and a $18.00 target price on the stock. Finally, Scotiabank downgraded NU to a “sector perform” rating and set a $13.00 price target for the company. in a research note on Wednesday, June 3rd. Ten equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, NU presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.24.

NU Company Profile

Nu Holdings Ltd (NYSE: NU), commonly known by its consumer brand Nubank, is a Latin American financial technology company that provides digital banking and financial services through a mobile-first platform. The company’s core offerings include no-fee digital checking accounts, credit cards, personal loans, payments and transfers, and a range of savings and investment products. Nubank emphasizes a streamlined customer experience delivered via its smartphone app, combined with data-driven underwriting and automated customer service tools.

Founded in 2013 by David Vélez, Cristina Junqueira and Edward Wible, Nu grew rapidly by targeting underbanked and digitally savvy consumers in Latin America with low-fee, transparent products.