Aberdeen Group plc Boosts Position in Qfin Holdings Inc. - Sponsored ADR $QFIN

Key Points

• Aberdeen Group plc increased its stake in Qfin Holdings Inc. by 31.2%, acquiring an additional 52,475 shares during the first quarter, bringing their total ownership to 220,412 shares valued at approximately $9.93 million.
• Qfin announced a semi-annual dividend increase to $0.76 per share, representing a substantial yield of 440.0% and reflecting its strong financial performance.
• Despite missing earnings estimates, Qfin Holdings maintains a consensus rating of "Buy" among analysts, with an average price target set at $51.73.

Aberdeen Group plc lifted its position in shares of Qfin Holdings Inc. - Sponsored ADR (NASDAQ:QFIN - Free Report) by 31.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 220,412 shares of the company's stock after purchasing an additional 52,475 shares during the quarter. Aberdeen Group plc owned 0.14% of Qfin worth $9,933,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. GeoWealth Management LLC purchased a new stake in Qfin in the 4th quarter worth $26,000. Virtus Investment Advisers Inc. acquired a new stake in shares of Qfin during the 4th quarter worth approximately $61,000. Caitong International Asset Management Co. Ltd acquired a new stake in Qfin during the first quarter worth $108,000. State of Wyoming purchased a new stake in Qfin in the 4th quarter valued at about $97,000. Finally, Headlands Technologies LLC purchased a new stake in shares of Qfin in the 1st quarter valued at approximately $151,000. Hedge funds and other institutional investors own 74.81% of the company's stock.

Qfin Stock Performance

Shares of NASDAQ QFIN traded down $0.38 during mid-day trading on Monday, hitting $31.07. 1,333,152 shares of the company were exchanged, compared to its average volume of 2,249,320. The firm has a market cap of $4.90 billion, a price-to-earnings ratio of 4.39, a price-to-earnings-growth ratio of 0.32 and a beta of 0.39. The stock has a 50 day simple moving average of $38.41 and a 200-day simple moving average of $40.64. 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 Holdings Inc. - Sponsored ADR has a 1-year low of $24.30 and a 1-year high of $48.94.

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

Qfin Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 8th will be given a dividend of $0.76 per share. This represents a dividend yield of 440.0%. The ex-dividend date is Monday, September 8th. This is an increase from Qfin's previous semi-annual dividend of $0.70. Qfin's payout ratio is presently 21.19%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on QFIN shares. Wall Street Zen downgraded Qfin from a "buy" rating to a "hold" rating in a report on Friday. JPMorgan Chase & Co. initiated coverage on shares of Qfin in a report on Wednesday, July 2nd. They issued an "overweight" rating and a $65.00 price objective on the stock. Three analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $51.73.

About Qfin

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.