Venturi Wealth Management LLC Acquires 10,884 Shares of Nu Holdings Ltd. (NYSE:NU)

Venturi Wealth Management LLC grew its stake in shares of Nu Holdings Ltd. (NYSE:NU) by 79.3% in the third quarter, HoldingsChannel.com reports. The firm owned 24,605 shares of the company’s stock after purchasing an additional 10,884 shares during the period. Venturi Wealth Management LLC’s holdings in NU were worth $336,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Legacy Capital Wealth Partners LLC bought a new position in shares of NU during the third quarter valued at about $187,000. Assetmark Inc. lifted its position in shares of NU by 46.5% during the 3rd quarter. Assetmark Inc. now owns 15,275 shares of the company’s stock worth $209,000 after buying an additional 4,848 shares in the last quarter. Verdence Capital Advisors LLC lifted its position in shares of NU by 13.0% during the 3rd quarter. Verdence Capital Advisors LLC now owns 40,167 shares of the company’s stock worth $548,000 after buying an additional 4,606 shares in the last quarter. Fiera Capital Corp purchased a new stake in shares of NU during the third quarter valued at approximately $3,045,000. Finally, Principal Financial Group Inc. lifted its holdings in NU by 315.8% during the third quarter. Principal Financial Group Inc. now owns 1,153,464 shares of the company’s stock worth $15,745,000 after acquiring an additional 876,039 shares during the period. 80.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on NU shares. Susquehanna reissued a “positive” rating and issued a $16.00 price target on shares of NU in a report on Thursday, August 15th. UBS Group cut shares of NU from a “buy” rating to a “neutral” rating and set a $13.50 target price on the stock. in a research note on Friday, August 2nd. JPMorgan Chase & Co. raised their price target on shares of NU from $14.50 to $15.00 and gave the stock a “neutral” rating in a research note on Monday, August 19th. Barclays upped their price objective on NU from $15.00 to $17.00 and gave the company an “overweight” rating in a research note on Friday, August 16th. Finally, Bank of America raised their target price on NU from $12.80 to $15.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, NU presently has an average rating of “Moderate Buy” and an average price target of $15.21.

NU Price Performance

Shares of NYSE:NU opened at $15.83 on Wednesday. The company has a 50 day moving average of $14.43 and a 200 day moving average of $13.15. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 0.25. The stock has a market cap of $75.44 billion, a P/E ratio of 51.06, a P/E/G ratio of 0.69 and a beta of 1.13. Nu Holdings Ltd. has a 12 month low of $7.74 and a 12 month high of $16.15.

NU (NYSE:NU) last released its quarterly earnings results on Tuesday, August 13th. The company reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.02. The firm had revenue of $2.85 billion for the quarter, compared to analysts’ expectations of $2.90 billion. NU had a net margin of 15.11% and a return on equity of 27.00%. During the same quarter in the prior year, the firm posted $0.05 earnings per share. As a group, sell-side analysts forecast that Nu Holdings Ltd. will post 0.41 EPS for the current fiscal year.

About NU

Nu Holdings Ltd. provides digital banking platform and digital financial services in Brazil, Mexico, Colombia, and internationally. It offers Nu credit and debit cards; Ultraviolet credit and debit cards; and mobile payment solutions for NuAccount customers to make and receive transfers, pay bills, and make everyday purchases through their mobile phones.