OVERSEA CHINESE BANKING Corp Ltd Grows Holdings in Qfin Holdings Inc. - Sponsored ADR $QFIN

OVERSEA CHINESE BANKING Corp Ltd lifted its stake in shares of Qfin Holdings Inc. - Sponsored ADR (NASDAQ:QFIN - Free Report) by 741.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 579,568 shares of the company's stock after acquiring an additional 510,730 shares during the period. OVERSEA CHINESE BANKING Corp Ltd owned 0.41% of Qfin worth $11,165,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of QFIN. Royal Bank of Canada lifted its holdings in shares of Qfin by 51.7% during the 1st quarter. Royal Bank of Canada now owns 6,508 shares of the company's stock worth $293,000 after acquiring an additional 2,219 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Qfin during the 1st quarter worth about $29,000. Goldman Sachs Group Inc. lifted its holdings in shares of Qfin by 32.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,603,830 shares of the company's stock worth $72,028,000 after acquiring an additional 395,589 shares during the period. California State Teachers Retirement System lifted its holdings in shares of Qfin by 333.8% during the 2nd quarter. California State Teachers Retirement System now owns 34,810 shares of the company's stock worth $1,509,000 after acquiring an additional 26,786 shares during the period. Finally, Voya Investment Management LLC lifted its holdings in shares of Qfin by 52.2% during the 3rd quarter. Voya Investment Management LLC now owns 28,636 shares of the company's stock worth $824,000 after acquiring an additional 9,824 shares during the period. 74.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Qfin news, Director Xiaohuan Chen purchased 190,000 shares of the business's stock in a transaction that occurred on Friday, March 27th. The shares were purchased at an average price of $12.89 per share, for a total transaction of $2,449,100.00. Following the completion of the acquisition, the director owned 190,000 shares of the company's stock, valued at approximately $2,449,100. This represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 17.10% of the company's stock.

Qfin Trading Down 1.1%

NASDAQ QFIN opened at $13.85 on Wednesday. Qfin Holdings Inc. - Sponsored ADR has a one year low of $12.29 and a one year high of $47.00. The company's 50 day moving average price is $14.09 and its 200 day moving average price is $18.17. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.94 and a current ratio of 2.43. The firm has a market capitalization of $1.97 billion, a price-to-earnings ratio of 2.25, a PEG ratio of 0.26 and a beta of 0.51.

Qfin (NASDAQ:QFIN - Get Free Report) last posted its quarterly earnings results on Saturday, February 14th. The company reported $0.59 EPS for the quarter. Qfin had a net margin of 31.13% and a return on equity of 24.97%. The firm had revenue of $584.98 million for the quarter. On average, sell-side analysts predict that Qfin Holdings Inc. - Sponsored ADR will post 3.82 EPS for the current year.

Qfin Dividend Announcement

The firm also recently declared a dividend, which will be paid on Thursday, May 14th. Investors of record on Wednesday, April 22nd will be issued a $0.78 dividend. The ex-dividend date is Wednesday, April 22nd. This represents a yield of 1,126.0%. Qfin's dividend payout ratio (DPR) is presently 24.35%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on QFIN shares. Weiss Ratings lowered shares of Qfin from a "hold (c-)" rating to a "sell (d+)" rating in a report on Monday, April 6th. Jefferies Financial Group cut their price objective on shares of Qfin from $30.30 to $23.40 and set a "buy" rating on the stock in a report on Wednesday, March 18th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Reduce" and a consensus target price of $22.20.

About Qfin

360 DigiTech, Inc NASDAQ: QFIN is a China‐based fintech company that specializes in providing digital lending solutions to underserved consumer and small business markets. Leveraging proprietary credit assessment technologies and big data analytics, the company connects borrowers with a network of financial institutions and investors through its online platform. Its services encompass unsecured consumer loans, installment credit products, and working capital financing for micro and small enterprises.

The company's flagship platform offers an end‐to‐end digital lending experience, from application and credit evaluation to disbursement and repayment.

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