Acadian Asset Management LLC Reduces Stock Holdings in Qfin Holdings Inc. - Sponsored ADR $QFIN

Key Points

• Acadian Asset Management LLC reduced its stake in Qfin Holdings Inc. by 3.1%, owning approximately 3.54% of the company after selling 175,485 shares.
• Qfin recently reported quarterly earnings of $1.78 EPS, slightly missing estimates, and has a dividend increase from $0.70 to $0.76, reflecting a yield of 541.0%.
• Analysts have a consensus rating of "Buy" for Qfin, with an average target price of $51.73, while JPMorgan Chase set a target price of $65.00.

Acadian Asset Management LLC trimmed its stake in Qfin Holdings Inc. - Sponsored ADR (NASDAQ:QFIN - Free Report) by 3.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,577,474 shares of the company's stock after selling 175,485 shares during the period. Acadian Asset Management LLC owned approximately 3.54% of Qfin worth $250,446,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of QFIN. HB Wealth Management LLC boosted its stake in Qfin by 7.2% in the first quarter. HB Wealth Management LLC now owns 6,431 shares of the company's stock worth $289,000 after buying an additional 431 shares in the last quarter. SVB Wealth LLC purchased a new stake in Qfin in the first quarter worth approximately $28,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Qfin in the first quarter worth approximately $29,000. HighTower Advisors LLC boosted its stake in Qfin by 5.6% in the first quarter. HighTower Advisors LLC now owns 15,484 shares of the company's stock worth $695,000 after buying an additional 823 shares in the last quarter. Finally, Nomura Holdings Inc. boosted its stake in Qfin by 7.3% in the first quarter. Nomura Holdings Inc. now owns 13,200 shares of the company's stock worth $593,000 after buying an additional 900 shares in the last quarter. 74.81% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

QFIN has been the subject of several research reports. Wall Street Zen lowered Qfin from a "buy" rating to a "hold" rating in a research note on Friday, August 22nd. JPMorgan Chase & Co. initiated coverage on Qfin in a research note on Wednesday, July 2nd. They issued an "overweight" rating and a $65.00 target price for the company. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $51.73.

Qfin Trading Down 1.5%

Shares of NASDAQ:QFIN traded down $0.42 during trading on Friday, reaching $28.36. 1,124,929 shares of the company traded hands, compared to its average volume of 1,881,310. The firm has a market capitalization of $4.47 billion, a price-to-earnings ratio of 4.01, a P/E/G ratio of 0.29 and a beta of 0.45. Qfin Holdings Inc. - Sponsored ADR has a 52-week low of $24.78 and a 52-week 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 business's fifty day moving average is $34.30 and its 200-day moving average is $39.33.

Qfin (NASDAQ:QFIN - Get Free Report) last released its quarterly earnings data on Thursday, August 14th. The company reported $1.78 earnings per share for the quarter, missing analysts' consensus estimates of $1.79 by ($0.01). The company had revenue of $728.00 million for the quarter, compared to analysts' expectations of $4.68 billion. Qfin had a net margin of 38.66% and a return on equity of 30.74%. As a group, analysts forecast that Qfin Holdings Inc. - Sponsored ADR will post 5.71 EPS for the current year.

Qfin Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 8th will be paid a $0.76 dividend. 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. This represents a yield of 541.0%. Qfin's payout ratio is 21.19%.

About Qfin

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.