American Century Companies Inc. Grows Position in LexinFintech Holdings Ltd. Sponsored ADR $LX

Key Points

• American Century Companies Inc. has increased its stake in LexinFintech Holdings by 15.2%, acquiring an additional 94,104 shares to reach a total of 712,868 shares valued at approximately $7.19 million.
• LexinFintech has recently approved a new semi-annual dividend of $0.194 per share, up from $0.11, reflecting a substantial dividend yield of 440.0%.
• Shares of LexinFintech are currently rated as a "buy" by analysts, with a consensus target price of $13.60, following its recent earnings report that exceeded expectations.

American Century Companies Inc. increased its position in shares of LexinFintech Holdings Ltd. Sponsored ADR (NASDAQ:LX - Free Report) by 15.2% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 712,868 shares of the company's stock after buying an additional 94,104 shares during the quarter. American Century Companies Inc. owned about 0.42% of LexinFintech worth $7,193,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its stake in shares of LexinFintech by 44.7% in the 4th quarter. Geode Capital Management LLC now owns 74,127 shares of the company's stock valued at $430,000 after purchasing an additional 22,885 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of LexinFintech in the 4th quarter valued at approximately $157,000. NewEdge Advisors LLC purchased a new position in shares of LexinFintech in the 4th quarter valued at approximately $166,000. Dimensional Fund Advisors LP grew its stake in shares of LexinFintech by 21.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,793,751 shares of the company's stock valued at $10,409,000 after purchasing an additional 315,243 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its stake in shares of LexinFintech by 146.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 12,160 shares of the company's stock valued at $71,000 after purchasing an additional 7,227 shares during the last quarter.

LexinFintech Price Performance

Shares of LX traded up $0.07 during mid-day trading on Monday, hitting $6.32. The company's stock had a trading volume of 4,811,189 shares, compared to its average volume of 3,791,632. The company has a current ratio of 1.89, a quick ratio of 1.88 and a debt-to-equity ratio of 0.11. The firm has a 50-day simple moving average of $6.78 and a 200 day simple moving average of $7.80. The firm has a market capitalization of $1.06 billion, a P/E ratio of 4.98 and a beta of 0.54. LexinFintech Holdings Ltd. Sponsored ADR has a 1-year low of $1.63 and a 1-year high of $11.64.

LexinFintech (NASDAQ:LX - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.20 by $0.20. The business had revenue of $500.62 million during the quarter, compared to analysts' expectations of $500.62 million. LexinFintech had a return on equity of 14.67% and a net margin of 11.50%.

LexinFintech Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, August 26th will be issued a dividend of $0.194 per share. This is a boost from LexinFintech's previous semi-annual dividend of $0.11. This represents a yield of 440.0%. The ex-dividend date of this dividend is Tuesday, August 26th. LexinFintech's payout ratio is presently 24.41%.

LexinFintech declared that its Board of Directors has initiated a stock repurchase program on Monday, July 21st that permits the company to buyback $0.00 in shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company's board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded LexinFintech from a "buy" rating to a "hold" rating in a research note on Sunday. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $13.60.

LexinFintech Profile

LexinFintech Holdings Ltd., through its subsidiaries, provides online consumer finance services in the People's Republic of China. The company operates Fenqile.com, an online consumption and consumer finance platform that offers installment purchase and personal installment loans, as well as online direct sales with installment payment terms; and Le Hua Card, a scenario-based lending.