LU - Fintech stocks take the lead among financial winners last week; insurers dipped
Fintech stocks performed best among gainers in the financial sector (with market cap of $2B+) for the week ended Feb. 18. Lending platform Upstart Holdings (NASDAQ:UPST) +30% topped the list after reporting better-than-expected Q4 results, along with strong earnings guidance. Following the Q4 beat, Upstart got double-upgraded to Buy at Bank of America. Additionally, Daniel Loeb's Third Point trimmed its stake on the stock; Nu Holdings (NYSE:NU) +15.3% rallied after both Berkshire Hathaway (NYSE:BRK.B) (NYSE:BRK.A) and Tiger Global Management disclosed new stakes in the Brazilian neobank; China-based credit servicer Lufax Holdings (NYSE:LU) +15% jumped; Property and casualty insurer Kinsale Capital Group (NYSE:KNSL) +7.3% rose after beating fourth-quarter consensus estimates and; Argentina-based regional bank Grupo Financiero Galicia (NASDAQ:GGAL) +7.2% gained. The top five worst performers among the financial sector were: Specialty insurer Trupanion (NASDAQ:TRUP) -14.2% fell after missing Q4 earnings consensus; Insurance broker BRP Group (NASDAQ:BRP) -12.3% dipped; Life and health insurer Primerica (NYSE:PRI) -12% drifted lower following Q4 results; Cryptocurrency miner Marathon Digital (NASDAQ:MARA) -11.3% declined as bitcoin
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Fintech stocks take the lead among financial winners last week; insurers dipped