Korea Investment CORP Buys 8,300 Shares of Qfin Holdings Inc. - Sponsored ADR $QFIN

Key Points

• Korea Investment CORP increased its stake in Qfin Holdings Inc. by 6.1% in the first quarter, owning 144,400 shares worth approximately $6.5 million at that time.
• Qfin Holdings recently reported earnings per share (EPS) of $1.78, slightly below the consensus estimate of $1.79, with revenues at $728 million compared to expectations of $4.68 billion.
• The company announced an increase in its semi-annual dividend to $0.76 per share, reflecting a yield of 440.0% and a dividend payout ratio of 21.19%.

Korea Investment CORP lifted its stake in shares of Qfin Holdings Inc. - Sponsored ADR (NASDAQ:QFIN - Free Report) by 6.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 144,400 shares of the company's stock after purchasing an additional 8,300 shares during the quarter. Korea Investment CORP owned 0.09% of Qfin worth $6,485,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. GeoWealth Management LLC acquired a new stake in shares of Qfin during the 4th quarter worth $26,000. Virtus Investment Advisers Inc. acquired a new stake in shares of Qfin during the 4th quarter worth $61,000. State of Wyoming acquired a new stake in shares of Qfin during the 4th quarter worth $97,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Qfin during the 1st quarter worth $108,000. Finally, Headlands Technologies LLC bought a new stake in shares of Qfin during the 1st quarter worth $151,000. 74.81% of the stock is owned by institutional investors and hedge funds.

Qfin Trading Down 1.0%

Qfin stock traded down $0.30 during trading hours on Thursday, hitting $29.42. The stock had a trading volume of 438,701 shares, compared to its average volume of 1,740,752. The company has a quick ratio of 3.48, a current ratio of 3.48 and a debt-to-equity ratio of 0.20. The stock has a market cap of $4.64 billion, a price-to-earnings ratio of 4.16, a P/E/G ratio of 0.31 and a beta of 0.39. Qfin Holdings Inc. - Sponsored ADR has a one year low of $24.30 and a one year high of $48.94. The business's 50 day simple moving average is $37.90 and its 200-day simple moving average is $40.49.

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 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 net margin of 38.66% and a return on equity of 30.74%. On average, equities analysts predict that Qfin Holdings Inc. - Sponsored ADR will post 5.71 EPS for the current fiscal year.

Qfin Increases Dividend

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

Wall Street Analyst Weigh In

QFIN has been the subject of several recent analyst reports. JPMorgan Chase & Co. initiated 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 downgraded Qfin from a "buy" rating to a "hold" rating in a research report on Friday, August 22nd. Three research analysts have rated the stock with a Buy rating, According to MarketBeat, Qfin has an average rating of "Buy" and a consensus target price of $51.73.

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.