Exchange Traded Concepts LLC Purchases Shares of 41,663 Qfin Holdings Inc. - Sponsored ADR $QFIN

Key Points

• Exchange Traded Concepts LLC acquired 41,663 shares of Qfin Holdings Inc. valued at approximately $1.8 million, reflecting strong institutional interest in the company.
• Qfin recently announced a semi-annual dividend of $0.76, increasing from its previous $0.70 dividend, representing a notable dividend yield of 541.0%.
• Research analysts have set a consensus price target of $51.73 for Qfin, with JPMorgan Chase issuing an "overweight" rating and a target price of $65.00.

Exchange Traded Concepts LLC purchased a new position in Qfin Holdings Inc. - Sponsored ADR (NASDAQ:QFIN - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 41,663 shares of the company's stock, valued at approximately $1,807,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Swedbank AB lifted its stake in Qfin by 2.6% during the 2nd quarter. Swedbank AB now owns 1,336,400 shares of the company's stock valued at $57,946,000 after acquiring an additional 34,500 shares during the period. Voya Investment Management LLC lifted its holdings in Qfin by 22.7% during the 1st quarter. Voya Investment Management LLC now owns 19,618 shares of the company's stock valued at $881,000 after buying an additional 3,632 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Qfin by 183.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 888,680 shares of the company's stock valued at $39,911,000 after purchasing an additional 575,545 shares in the last quarter. Caxton Associates LLP acquired a new position in shares of Qfin during the first quarter worth $1,297,000. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Qfin by 32.7% during the first quarter. Goldman Sachs Group Inc. now owns 1,603,830 shares of the company's stock valued at $72,028,000 after buying an additional 395,589 shares during the last quarter. 74.81% of the stock is owned by hedge funds and other institutional investors.

Qfin Stock Performance

Shares of QFIN stock traded up $0.38 during trading hours on Monday, reaching $30.71. 2,228,023 shares of the company's stock were exchanged, compared to its average volume of 1,580,281. The business has a fifty day moving average price of $32.69 and a 200-day moving average price of $38.84. The stock has a market capitalization of $4.84 billion, a P/E ratio of 4.34, a P/E/G ratio of 0.31 and a beta of 0.45. Qfin Holdings Inc. - Sponsored ADR has a fifty-two week low of $25.65 and a fifty-two week high of $48.94. The company has a quick ratio of 3.48, a current ratio of 3.48 and a debt-to-equity ratio of 0.20.

Qfin (NASDAQ:QFIN - Get Free Report) last announced its quarterly earnings data on Thursday, August 14th. The company reported $1.78 EPS for the quarter, missing analysts' consensus estimates of $1.79 by ($0.01). The company had revenue of $728.00 million for the quarter, compared to analyst estimates of $4.68 billion. Qfin had a return on equity of 30.74% and a net margin of 38.66%. Analysts predict that Qfin Holdings Inc. - Sponsored ADR will post 5.71 EPS for the current fiscal year.

Qfin Increases Dividend

The company also recently announced a semi-annual dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 8th will be paid a $0.76 dividend. The ex-dividend date is Monday, September 8th. This represents a dividend yield of 541.0%. This is a boost from Qfin's previous semi-annual dividend of $0.70. Qfin's dividend payout ratio (DPR) is 21.19%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on QFIN shares. JPMorgan Chase & Co. started coverage on shares of Qfin in a research note on Wednesday, July 2nd. They issued an "overweight" rating and a $65.00 price target on the stock. Wall Street Zen cut shares of Qfin from a "buy" rating to a "hold" rating in a research note on Friday, August 22nd. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, Qfin has a consensus rating of "Buy" and an average price target of $51.73.

Qfin Profile

Qifu Technology, Inc, through its subsidiaries, operates credit-tech platform under the 360 Jietiao brand in the People's Republic of China. It provides credit-driven services that matches borrowers with financial institutions to conduct customer acquisition, initial and credit screening, advanced risk assessment, credit assessment, fund matching, and other post-facilitation services; and platform services, including loan facilitation and post-facilitation services to financial institution partners under intelligence credit engine, referral services, and risk management software-as-a-service.