Invesco Ltd. Sells 15,208 Shares of Qfin Holdings Inc. - Sponsored ADR $QFIN

Key Points

• Invesco Ltd. has reduced its holdings in Qfin Holdings by 7.6%, selling 15,208 shares to now own approximately 0.12% of the company worth $8.28 million.
• Qfin recently reported earnings of $1.78 per share, missing consensus estimates of $1.79, with revenues of $728 million versus expectations of $4.68 billion.
• The company is set to pay a semi-annual dividend of $0.76 per share, increasing from the previous $0.70, reflecting a substantial dividend yield of 440.0%.

Invesco Ltd. decreased its stake in Qfin Holdings Inc. - Sponsored ADR (NASDAQ:QFIN - Free Report) by 7.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 184,460 shares of the company's stock after selling 15,208 shares during the period. Invesco Ltd. owned 0.12% of Qfin worth $8,284,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. HB Wealth Management LLC boosted its holdings in shares of Qfin by 7.2% during the 1st quarter. HB Wealth Management LLC now owns 6,431 shares of the company's stock worth $289,000 after buying an additional 431 shares during the period. Nuveen Asset Management LLC increased its position in Qfin by 0.5% during the fourth quarter. Nuveen Asset Management LLC now owns 242,000 shares of the company's stock worth $9,288,000 after acquiring an additional 1,100 shares during the period. Townsquare Capital LLC increased its position in Qfin by 4.5% during the first quarter. Townsquare Capital LLC now owns 26,218 shares of the company's stock worth $1,177,000 after acquiring an additional 1,120 shares during the period. Quantinno Capital Management LP raised its holdings in Qfin by 8.5% in the 4th quarter. Quantinno Capital Management LP now owns 17,848 shares of the company's stock valued at $685,000 after acquiring an additional 1,392 shares in the last quarter. Finally, Virtus Investment Advisers Inc. acquired a new position in Qfin in the 4th quarter valued at $61,000. 74.81% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on QFIN. Wall Street Zen cut shares of Qfin from a "buy" rating to a "hold" rating in a research report on Friday, August 22nd. JPMorgan Chase & Co. began coverage on Qfin in a research report on Wednesday, July 2nd. They issued an "overweight" rating and a $65.00 price target on the stock. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $51.73.

Qfin Price Performance

NASDAQ QFIN traded up $0.11 during trading hours on Friday, hitting $29.12. The company had a trading volume of 1,407,447 shares, compared to its average volume of 1,750,891. Qfin Holdings Inc. - Sponsored ADR has a 52 week low of $24.30 and a 52 week high of $48.94. The firm has a 50 day simple moving average of $37.61 and a 200 day simple moving average of $40.39. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.48 and a current ratio of 3.48. The firm has a market capitalization of $4.59 billion, a price-to-earnings ratio of 4.11, a PEG ratio of 0.30 and a beta of 0.39.

Qfin (NASDAQ:QFIN - Get Free Report) last issued its quarterly earnings results on Thursday, August 14th. The company reported $1.78 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.79 by ($0.01). The business 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%. Equities research analysts expect that Qfin Holdings Inc. - Sponsored ADR will post 5.71 earnings per share for the current year.

Qfin Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 8th will be given a dividend of $0.76 per share. This is a boost from Qfin's previous semi-annual dividend of $0.70. The ex-dividend date is Monday, September 8th. This represents a dividend yield of 440.0%. Qfin's dividend payout ratio is 21.19%.

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.