Qfin Holdings Inc. - Sponsored ADR $QFIN Shares Bought by Aberdeen Group plc

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% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 220,412 shares of the company's stock after acquiring an additional 52,475 shares during the period. Aberdeen Group plc owned approximately 0.14% of Qfin worth $9,933,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Bank of New York Mellon Corp increased its holdings in shares of Qfin by 6.1% during the first quarter. Bank of New York Mellon Corp now owns 125,955 shares of the company's stock worth $5,657,000 after buying an additional 7,197 shares in the last quarter. Citigroup Inc. grew its position in Qfin by 3.2% during the 1st quarter. Citigroup Inc. now owns 277,647 shares of the company's stock worth $12,469,000 after acquiring an additional 8,515 shares during the last quarter. Yousif Capital Management LLC acquired a new position in Qfin in the 1st quarter worth about $209,000. Oppenheimer & Co. Inc. bought a new position in Qfin in the first quarter valued at about $208,000. Finally, OVERSEA CHINESE BANKING Corp Ltd boosted its stake in shares of Qfin by 583.8% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 484,322 shares of the company's stock valued at $21,751,000 after purchasing an additional 413,493 shares in the last quarter. Institutional investors and hedge funds own 74.81% of the company's stock.

Qfin Price Performance

NASDAQ QFIN traded up $0.78 on Friday, reaching $31.45. The company had a trading volume of 1,580,249 shares, compared to its average volume of 2,307,090. The company has a quick ratio of 3.08, a current ratio of 3.48 and a debt-to-equity ratio of 0.20. Qfin Holdings Inc. - Sponsored ADR has a 12 month low of $24.30 and a 12 month high of $48.94. The firm's 50 day moving average price is $38.64 and its 200 day moving average price is $40.73. The stock has a market capitalization of $4.96 billion, a PE ratio of 4.44, a price-to-earnings-growth ratio of 0.31 and a beta of 0.39.

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

Qfin Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 8th will be paid a $0.76 dividend. This is a boost from Qfin's previous semi-annual dividend of $0.70. The ex-dividend date is Monday, September 8th. This represents a yield of 440.0%. Qfin's dividend payout ratio (DPR) is 19.49%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on QFIN shares. Wall Street Zen cut Qfin from a "strong-buy" rating to a "buy" rating in a research note on Friday, July 18th. JPMorgan Chase & Co. began coverage on shares of Qfin in a research report on Wednesday, July 2nd. They set an "overweight" rating and a $65.00 price objective on the stock. Three research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of "Buy" and a consensus target price 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.