Caisse DE Depot ET Placement DU Quebec Takes $2.27 Million Position 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 bought a new position in shares of Qfin Holdings Inc. - Sponsored ADR (NASDAQ:QFIN - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 50,600 shares of the company's stock, valued at approximately $2,272,000.

Several other hedge funds have also added to or reduced their stakes in QFIN. Wells Fargo & Company MN lifted its holdings in Qfin by 1,392.0% during the 4th quarter. Wells Fargo & Company MN now owns 5,595 shares of the company's stock worth $215,000 after purchasing an additional 5,220 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Qfin during the 4th quarter worth $298,000. Voya Investment Management LLC increased its holdings in Qfin by 56.9% in the 4th quarter. Voya Investment Management LLC now owns 15,986 shares of the company's stock worth $614,000 after purchasing an additional 5,798 shares in the last quarter. Boothbay Fund Management LLC acquired a new position in Qfin in the 4th quarter worth about $475,000. Finally, Tudor Investment Corp ET AL acquired a new position in Qfin in the 4th quarter worth about $520,000. 74.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. started coverage on Qfin in a report 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 equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $51.73.

Qfin Trading Down 1.6%

Shares of Qfin stock traded down $0.49 on Wednesday, hitting $29.12. 260,729 shares of the company's stock traded hands, compared to its average volume of 1,739,499. The company has a fifty day moving average of $36.74 and a two-hundred day moving average of $40.09. The company has a market capitalization of $4.59 billion, a price-to-earnings ratio of 4.11, a price-to-earnings-growth ratio of 0.29 and a beta of 0.45. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.48 and a quick ratio of 3.48. Qfin Holdings Inc. - Sponsored ADR has a one year low of $24.30 and a one year high of $48.94.

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

Qfin Increases Dividend

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

Qfin 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.