Alliancebernstein L.P. Purchases 500,573 Shares of Qfin Holdings Inc. - Sponsored ADR $QFIN

Key Points

• Alliancebernstein L.P. increased its stake in Qfin Holdings Inc. by 20.8%, owning approximately 2.9 million shares worth $130 million as of the most recent filing.
• Qfin recently announced a semi-annual dividend of $0.76, up from the previous $0.70, reflecting a significant yield of 440.0%.
• Equities analysts have rated Qfin with an average target price of $51.73, despite a recent downgrade to "hold" from "buy" by Wall Street Zen.

Alliancebernstein L.P. lifted its holdings in shares of Qfin Holdings Inc. - Sponsored ADR (NASDAQ:QFIN - Free Report) by 20.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,901,566 shares of the company's stock after purchasing an additional 500,573 shares during the quarter. Alliancebernstein L.P. owned 1.84% of Qfin worth $130,309,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Krane Funds Advisors LLC boosted its stake in Qfin by 24.4% in the first quarter. Krane Funds Advisors LLC now owns 7,032,927 shares of the company's stock worth $315,849,000 after buying an additional 1,381,624 shares in the last quarter. Vanguard Group Inc. boosted its stake in Qfin by 0.7% in the first quarter. Vanguard Group Inc. now owns 4,572,985 shares of the company's stock worth $205,373,000 after buying an additional 31,155 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Qfin by 10,812.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,042,306 shares of the company's stock worth $91,720,000 after buying an additional 2,023,590 shares in the last quarter. Man Group plc boosted its stake in Qfin by 10.4% in the fourth quarter. Man Group plc now owns 1,529,897 shares of the company's stock worth $58,717,000 after buying an additional 144,328 shares in the last quarter. Finally, Keystone Investors PTE Ltd. purchased a new stake in Qfin in the first quarter worth approximately $52,814,000. Hedge funds and other institutional investors own 74.81% of the company's stock.

Qfin Trading Down 0.4%

QFIN stock traded down $0.13 during midday trading on Friday, hitting $28.77. The company had a trading volume of 1,587,269 shares, compared to its average volume of 1,895,070. The company has a current ratio of 3.48, a quick ratio of 3.48 and a debt-to-equity ratio of 0.20. Qfin Holdings Inc. - Sponsored ADR has a 52 week low of $24.30 and a 52 week high of $48.94. The stock's 50 day moving average price is $35.78 and its 200 day moving average price is $39.74. The stock has a market cap of $4.53 billion, a price-to-earnings ratio of 4.06, a PEG ratio of 0.29 and a beta of 0.45.

Qfin (NASDAQ:QFIN - Get Free Report) last announced its quarterly earnings data on Thursday, August 14th. The company reported $1.78 earnings per share for the quarter, missing the consensus estimate of $1.79 by ($0.01). The company had revenue of $728.00 million during 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 research analysts expect that Qfin Holdings Inc. - Sponsored ADR will post 5.71 earnings per share for the current fiscal year.

Qfin Increases Dividend

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

Analysts Set New Price Targets

QFIN has been the subject of several research reports. JPMorgan Chase & Co. initiated coverage on Qfin in a research note on Wednesday, July 2nd. They issued an "overweight" rating and a $65.00 target price for the company. Wall Street Zen lowered Qfin from a "buy" rating to a "hold" rating in a research note on Friday, August 22nd. Three analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $51.73.

Qfin Company 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.