Acadian Asset Management LLC Decreases Stake 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 reduced its stake in Qfin Holdings Inc. - Sponsored ADR (NASDAQ:QFIN - Free Report) by 3.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,577,474 shares of the company's stock after selling 175,485 shares during the period. Acadian Asset Management LLC owned 3.54% of Qfin worth $250,446,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of QFIN. Ameriprise Financial Inc. grew its holdings in Qfin by 36.4% during the fourth quarter. Ameriprise Financial Inc. now owns 24,365 shares of the company's stock worth $935,000 after acquiring an additional 6,505 shares during the period. Deutsche Bank AG raised its holdings in shares of Qfin by 51.8% in the 4th quarter. Deutsche Bank AG now owns 301,745 shares of the company's stock worth $11,581,000 after purchasing an additional 102,975 shares in the last quarter. Ethic Inc. acquired a new stake in Qfin during the fourth quarter valued at approximately $292,000. Millennium Management LLC grew its position in Qfin by 57.8% in the fourth quarter. Millennium Management LLC now owns 354,042 shares of the company's stock worth $13,588,000 after buying an additional 129,624 shares during the last quarter. Finally, Nuveen Asset Management LLC grew its position in Qfin by 0.5% in the fourth quarter. Nuveen Asset Management LLC now owns 242,000 shares of the company's stock worth $9,288,000 after buying an additional 1,100 shares during the last quarter. 74.81% of the stock is currently owned by institutional investors and hedge funds.

Qfin Stock Up 1.7%

QFIN stock traded up $0.49 during midday trading on Monday, hitting $28.85. The company's stock had a trading volume of 456,648 shares, compared to its average volume of 1,723,844. The stock has a market capitalization of $4.55 billion, a P/E ratio of 4.07, a PEG ratio of 0.29 and a beta of 0.45. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.48 and a quick ratio of 3.48. The company's fifty day moving average price is $34.30 and its 200 day moving average price is $39.29. Qfin Holdings Inc. - Sponsored ADR has a twelve month low of $24.85 and a twelve month high of $48.94.

Qfin (NASDAQ:QFIN - Get Free Report) last released its quarterly earnings results on Thursday, August 14th. The company reported $1.78 earnings per share (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%. As a group, equities research analysts predict that Qfin Holdings Inc. - Sponsored ADR will post 5.71 EPS for the current year.

Qfin Increases Dividend

The firm also recently disclosed 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. This is a positive change from Qfin's previous semi-annual dividend of $0.70. This represents a dividend yield of 541.0%. The ex-dividend date of this dividend is Monday, September 8th. Qfin's payout ratio is presently 21.19%.

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 report on Wednesday, July 2nd. They issued an "overweight" rating and a $65.00 price target on the stock. Three research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $51.73.

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.