APG Asset Management N.V. Purchases 357,100 Shares of Qfin Holdings Inc. - Sponsored ADR $QFIN

Key Points

• APG Asset Management N.V. significantly increased its stake in Qfin Holdings by 2,076.2%, acquiring an additional 357,100 shares and holding a total of 374,300 shares worth approximately $15.56 million.
• Qfin recently announced a semi-annual dividend of $0.76, up from the previous $0.70, with a notable dividend yield of 440.0%.
• Analyst ratings for Qfin include an “overweight” rating from JPMorgan with a price target of $65.00, while the stock currently has an average rating of "Buy" with a target price of $51.73.

APG Asset Management N.V. grew its position in shares of Qfin Holdings Inc. - Sponsored ADR (NASDAQ:QFIN - Free Report) by 2,076.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 374,300 shares of the company's stock after buying an additional 357,100 shares during the period. APG Asset Management N.V. owned 0.24% of Qfin worth $15,562,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Compound Planning Inc. lifted its position in shares of Qfin by 21.4% during the 1st quarter. Compound Planning Inc. now owns 6,385 shares of the company's stock valued at $287,000 after buying an additional 1,124 shares during the last quarter. Monashee Investment Management LLC purchased a new stake in Qfin during the 1st quarter worth about $2,246,000. Candriam S.C.A. lifted its holdings in Qfin by 0.9% during the 1st quarter. Candriam S.C.A. now owns 714,500 shares of the company's stock worth $32,088,000 after purchasing an additional 6,200 shares in the last quarter. Credit Agricole S A lifted its holdings in Qfin by 782.7% during the 1st quarter. Credit Agricole S A now owns 28,194 shares of the company's stock worth $1,266,000 after purchasing an additional 25,000 shares in the last quarter. Finally, Quantbot Technologies LP lifted its holdings in Qfin by 7,090.2% during the 1st quarter. Quantbot Technologies LP now owns 16,106 shares of the company's stock worth $723,000 after purchasing an additional 15,882 shares in the last quarter. Hedge funds and other institutional investors own 74.81% of the company's stock.

Qfin Price Performance

Shares of Qfin stock traded up $0.05 during trading on Friday, hitting $29.06. 964,393 shares of the stock traded hands, compared to its average volume of 1,747,920. 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 stock has a market cap of $4.58 billion, a price-to-earnings ratio of 4.11, a PEG ratio of 0.30 and a beta of 0.39. The firm's fifty day moving average is $37.61 and its 200-day moving average is $40.39. Qfin Holdings Inc. - Sponsored ADR has a 52 week low of $24.30 and a 52 week high of $48.94.

Qfin (NASDAQ:QFIN - Get Free Report) last announced 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 firm 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%. Research analysts expect 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. Investors of record on Monday, September 8th will be issued a dividend of $0.76 per share. The ex-dividend date is Monday, September 8th. This represents a yield of 440.0%. This is a boost from Qfin's previous semi-annual dividend of $0.70. Qfin's dividend payout ratio (DPR) is currently 21.19%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on QFIN. Wall Street Zen cut Qfin from a "buy" rating to a "hold" rating in a report on Friday, August 22nd. JPMorgan Chase & Co. assumed coverage on Qfin in a report on Wednesday, July 2nd. They set an "overweight" rating and a $65.00 price objective on the stock. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Qfin currently has a consensus rating of "Buy" and an average price target 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.