Caisse DE Depot ET Placement DU Quebec Invests $2.27 Million in Qfin Holdings Inc. - Sponsored ADR $QFIN

Key Points

• Caisse DE Depot ET Placement DU Quebec has acquired a new stake in Qfin Holdings Inc., purchasing 50,600 shares valued at approximately $2.27 million.
• Qfin has announced a semi-annual dividend of $0.76 per share to be paid on September 30th, up from the previous $0.70 per share.
• Despite positive institutional investment, Qfin's stock price has decreased by 2.4%, with an earnings miss reported at $1.78 EPS against expectations of $1.79 EPS.

Caisse DE Depot ET Placement DU Quebec acquired a new position in shares of Qfin Holdings Inc. - Sponsored ADR (NASDAQ:QFIN - Free Report) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 50,600 shares of the company's stock, valued at approximately $2,272,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Krane Funds Advisors LLC increased its holdings in shares of Qfin by 24.4% during the 1st 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 during the last quarter. Aspex Management HK Ltd increased its holdings in shares of Qfin by 11.3% during the 4th quarter. Aspex Management HK Ltd now owns 6,371,808 shares of the company's stock worth $244,550,000 after buying an additional 648,088 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Qfin by 0.7% during the 1st 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 during the last quarter. AQR Capital Management LLC increased its holdings in shares of Qfin by 11.9% during the 4th quarter. AQR Capital Management LLC now owns 2,432,131 shares of the company's stock worth $93,345,000 after buying an additional 258,586 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Qfin by 10,812.1% during the 1st 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 during the last quarter. 74.81% of the stock is currently owned by institutional investors and hedge funds.

Qfin Stock Up 0.4%

NASDAQ:QFIN traded up $0.11 on Monday, reaching $29.12. The stock had a trading volume of 1,407,657 shares, compared to its average volume of 2,123,193. The company has a current ratio of 3.48, a quick ratio of 3.48 and a debt-to-equity ratio of 0.20. The company has a 50-day moving average of $37.34 and a 200 day moving average of $40.26. The stock has a market cap of $4.59 billion, a P/E ratio of 4.11, a price-to-earnings-growth ratio of 0.29 and a beta of 0.45. Qfin Holdings Inc. - Sponsored ADR has a 12-month low of $24.30 and a 12-month high of $48.94.

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

Qfin Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 8th will be given a $0.76 dividend. This represents a yield of 440.0%. The ex-dividend date of this dividend is Monday, September 8th. This is an increase from Qfin's previous semi-annual dividend of $0.70. Qfin's dividend payout ratio is currently 21.19%.

Analyst Upgrades and Downgrades

Several research analysts have commented on QFIN shares. Wall Street Zen lowered Qfin from a "buy" rating to a "hold" rating in a research report on Friday, August 22nd. 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. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has a consensus 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.