Hsbc Holdings PLC Sells 23,072 Shares of Qfin Holdings Inc. - Sponsored ADR $QFIN

Key Points

• HSBC Holdings PLC reduced its holdings in Qfin Holdings Inc. by 2.6%, selling 23,072 shares, and owning a total of 862,002 shares worth approximately $38.7 million.
• Mirae Asset Global Investments massively increased its stake in Qfin by 10,812.1%, acquiring over 2 million shares, while several other institutional investors have also recently altered their positions in the company.
• Qfin Holdings Inc. announced a semi-annual dividend increase to $0.76 per share, with a yield of 440.0%, and a dividend payout ratio currently at 21.19%.

Hsbc Holdings PLC decreased its holdings in shares of Qfin Holdings Inc. - Sponsored ADR (NASDAQ:QFIN - Free Report) by 2.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 862,002 shares of the company's stock after selling 23,072 shares during the period. Hsbc Holdings PLC owned 0.55% of Qfin worth $38,713,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in QFIN. Mirae Asset Global Investments Co. Ltd. boosted its position 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 valued at $91,720,000 after purchasing an additional 2,023,590 shares in the last quarter. Krane Funds Advisors LLC boosted its position 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 valued at $315,849,000 after purchasing an additional 1,381,624 shares in the last quarter. Keystone Investors PTE Ltd. bought a new stake in shares of Qfin during the 1st quarter valued at about $52,814,000. Aspex Management HK Ltd boosted its position 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 valued at $244,550,000 after purchasing an additional 648,088 shares in the last quarter. Finally, Panview Capital Ltd bought a new stake in shares of Qfin during the 1st quarter valued at about $24,925,000. Institutional investors own 74.81% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on QFIN shares. Wall Street Zen downgraded Qfin from a "buy" rating to a "hold" rating in a research note on Friday, August 22nd. JPMorgan Chase & Co. started coverage on Qfin in a research note on Wednesday, July 2nd. They set an "overweight" rating and a $65.00 price target on the stock. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $51.73.

Qfin Stock Down 1.6%

QFIN stock traded down $0.46 during trading on Thursday, reaching $29.25. 647,512 shares of the stock were exchanged, compared to its average volume of 1,741,240. The firm's 50 day moving average is $37.90 and its 200 day moving average is $40.49. Qfin Holdings Inc. - Sponsored ADR has a twelve month low of $24.30 and a twelve month high of $48.94. 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 firm has a market cap of $4.61 billion, a P/E ratio of 4.14, a price-to-earnings-growth ratio of 0.31 and a beta of 0.39.

Qfin (NASDAQ:QFIN - Get Free Report) last issued 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 company had revenue of $728.00 million during the quarter, compared to analysts' expectations of $4.68 billion. Qfin had a return on equity of 30.74% and a net margin of 38.66%. As a group, research analysts forecast that Qfin Holdings Inc. - Sponsored ADR will post 5.71 EPS for the current year.

Qfin Increases Dividend

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

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.