Allianz Asset Management GmbH Purchases 14,357 Shares of Qfin Holdings Inc. - Sponsored ADR $QFIN

Allianz Asset Management GmbH increased its position in Qfin Holdings Inc. - Sponsored ADR (NASDAQ:QFIN - Free Report) by 1.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 752,505 shares of the company's stock after purchasing an additional 14,357 shares during the period. Allianz Asset Management GmbH owned approximately 0.48% of Qfin worth $32,629,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Bank of New York Mellon Corp boosted its stake in Qfin by 6.1% in the 1st quarter. Bank of New York Mellon Corp now owns 125,955 shares of the company's stock worth $5,657,000 after purchasing an additional 7,197 shares in the last quarter. Citigroup Inc. boosted its stake in Qfin by 3.2% in the 1st quarter. Citigroup Inc. now owns 277,647 shares of the company's stock worth $12,469,000 after purchasing an additional 8,515 shares in the last quarter. Yousif Capital Management LLC bought a new position in Qfin during the 1st quarter valued at about $209,000. Oppenheimer & Co. Inc. bought a new position in Qfin during the 1st quarter valued at about $208,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Qfin by 183.8% during the 1st 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 acquiring an additional 575,545 shares during the period. Institutional investors own 74.81% of the company's stock.

Wall Street Analysts Forecast Growth

QFIN has been the topic of several research analyst reports. Wall Street Zen cut shares of Qfin from a "buy" rating to a "hold" rating in a research note on Friday, August 22nd. Zacks Research cut shares of Qfin from a "hold" rating to a "strong sell" rating in a research note on Tuesday, October 14th. JPMorgan Chase & Co. initiated coverage on shares of Qfin in a research note on Wednesday, July 2nd. They set an "overweight" rating and a $65.00 target price on the stock. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of Qfin in a research note on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat, Qfin presently has an average rating of "Moderate Buy" and a consensus target price of $51.73.

Qfin Price Performance

NASDAQ QFIN opened at $25.21 on Friday. Qfin Holdings Inc. - Sponsored ADR has a 52 week low of $24.83 and a 52 week high of $48.94. The firm has a market capitalization of $3.58 billion, a P/E ratio of 3.56, a PEG ratio of 0.26 and a beta of 0.42. The company has a quick ratio of 3.48, a current ratio of 3.48 and a debt-to-equity ratio of 0.20. The company has a 50-day moving average price of $29.55 and a 200-day moving average price of $36.80.

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

Qfin Increases Dividend

The firm also recently declared a semi-annual dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 8th were given a dividend of $0.76 per share. This represents a dividend yield of 541.0%. The ex-dividend date of this dividend was Monday, September 8th. This is an increase from Qfin's previous semi-annual dividend of $0.70. Qfin's payout ratio is currently 21.19%.

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.

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