Nuveen LLC Makes New Investment in Qfin Holdings Inc. - Sponsored ADR $QFIN

Key Points

• Nuveen LLC invested approximately $12.07 million in Qfin Holdings by acquiring 268,650 shares, representing around 0.17% of the company as of their latest SEC filing.
• Qfin announced a semi-annual dividend increase to $0.76 per share, which reflects a 440% yield, up from $0.70, with an ex-dividend date of September 8th.
• The company's stock underperformed earnings expectations, reporting EPS of $1.78 for the last quarter, missing estimates of $1.79, with a revenue of $728 million against forecasts of $4.68 billion.

Nuveen LLC bought a new position in Qfin Holdings Inc. - Sponsored ADR (NASDAQ:QFIN - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The firm bought 268,650 shares of the company's stock, valued at approximately $12,065,000. Nuveen LLC owned 0.17% of Qfin at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the stock. Bank of New York Mellon Corp lifted its holdings in Qfin by 6.1% in the first quarter. Bank of New York Mellon Corp now owns 125,955 shares of the company's stock worth $5,657,000 after buying an additional 7,197 shares during the period. Citigroup Inc. raised its position in shares of Qfin by 3.2% in the 1st quarter. Citigroup Inc. now owns 277,647 shares of the company's stock worth $12,469,000 after acquiring an additional 8,515 shares in the last quarter. Yousif Capital Management LLC purchased a new position in shares of Qfin in the 1st quarter valued at approximately $209,000. Oppenheimer & Co. Inc. bought a new stake in shares of Qfin during the first quarter valued at approximately $208,000. Finally, OVERSEA CHINESE BANKING Corp Ltd grew its stake in Qfin by 583.8% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 484,322 shares of the company's stock worth $21,751,000 after purchasing an additional 413,493 shares during the period. Institutional investors own 74.81% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on QFIN shares. JPMorgan Chase & Co. started coverage on Qfin in a research report on Wednesday, July 2nd. They set an "overweight" rating and a $65.00 price objective for the company. Wall Street Zen cut shares of Qfin from a "buy" rating to a "hold" rating in a research report on Friday, August 22nd. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $51.73.

Qfin Stock Down 2.2%

Shares of Qfin stock traded down $0.68 on Wednesday, reaching $29.71. The company's stock had a trading volume of 1,292,801 shares, compared to its average volume of 2,206,790. The company has a market capitalization of $4.68 billion, a price-to-earnings ratio of 4.20, a P/E/G ratio of 0.31 and a beta of 0.39. The firm's fifty day simple moving average is $37.90 and its two-hundred day simple moving average is $40.49. Qfin Holdings Inc. - Sponsored ADR has a 52 week low of $24.30 and a 52 week high of $48.94. The company has a quick ratio of 3.48, a current ratio of 3.48 and a debt-to-equity ratio of 0.20.

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

Qfin Increases Dividend

The firm also recently announced 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. This represents a dividend yield of 440.0%. The ex-dividend date of this dividend is Monday, September 8th. This is a positive change from Qfin's previous semi-annual dividend of $0.70. Qfin's dividend payout ratio is 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.