Serenity Capital Management PTE. LTD. Sells 710,148 Shares of Qfin Holdings Inc. - Sponsored ADR $QFIN

Key Points

• Serenity Capital Management reduced its stake in Qfin Holdings Inc. by 67.6% during the first quarter, now holding 340,849 shares after selling 710,148 shares.
• Qfin recently announced a semi-annual dividend increase from $0.70 to $0.76, representing a yield of 528.0% and a dividend payout ratio of 19.49%.
• Despite missing quarterly earnings estimates with an EPS of $1.78, Qfin has a consensus rating of "Buy" with a price target of $51.73.

Serenity Capital Management PTE. LTD. lessened its holdings in Qfin Holdings Inc. - Sponsored ADR (NASDAQ:QFIN - Free Report) by 67.6% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 340,849 shares of the company's stock after selling 710,148 shares during the quarter. Qfin accounts for approximately 9.2% of Serenity Capital Management PTE. LTD.'s investment portfolio, making the stock its 3rd biggest position. Serenity Capital Management PTE. LTD. owned about 0.22% of Qfin worth $15,308,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Krane Funds Advisors LLC boosted its position in shares of Qfin by 24.4% in the first quarter. Krane Funds Advisors LLC now owns 7,032,927 shares of the company's stock valued at $315,849,000 after acquiring an additional 1,381,624 shares during the period. Vanguard Group Inc. boosted its position in shares of Qfin by 0.7% in the first quarter. Vanguard Group Inc. now owns 4,572,985 shares of the company's stock valued at $205,373,000 after acquiring an additional 31,155 shares during the period. Alliancebernstein L.P. boosted its position in shares of Qfin by 20.8% in the first quarter. Alliancebernstein L.P. now owns 2,901,566 shares of the company's stock valued at $130,309,000 after acquiring an additional 500,573 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Qfin by 10,812.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,042,306 shares of the company's stock valued at $91,720,000 after acquiring an additional 2,023,590 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake in Qfin by 32.7% in the first quarter. Goldman Sachs Group Inc. now owns 1,603,830 shares of the company's stock valued at $72,028,000 after purchasing an additional 395,589 shares in the last quarter. Institutional investors own 74.81% of the company's stock.

Analyst Ratings Changes

A number of research firms recently commented on QFIN. JPMorgan Chase & Co. began coverage on Qfin in a research note on Wednesday, July 2nd. They issued an "overweight" rating and a $65.00 price target for the company. Wall Street Zen cut Qfin from a "buy" rating to a "hold" rating in a report on Friday, August 22nd. Three analysts have rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of "Buy" and a consensus target price of $51.73.

Qfin Trading Down 1.5%

QFIN stock traded down $0.42 during trading on Friday, hitting $28.36. The company had a trading volume of 1,124,929 shares, compared to its average volume of 1,881,310. The business has a 50-day moving average of $34.30 and a 200-day moving average of $39.33. Qfin Holdings Inc. - Sponsored ADR has a one year low of $24.78 and a one year high of $48.94. The stock has a market cap of $4.47 billion, a PE ratio of 4.01, a PEG ratio of 0.29 and a beta of 0.45. The company has a current ratio of 3.48, a quick ratio of 3.48 and a debt-to-equity ratio of 0.20.

Qfin (NASDAQ:QFIN - Get Free Report) last posted its quarterly earnings results on Thursday, August 14th. The company reported $1.78 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.79 by ($0.01). The business had revenue of $728.00 million for 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%. Research analysts predict that Qfin Holdings Inc. - Sponsored ADR will post 5.71 earnings per share for the current fiscal year.

Qfin Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 8th will be issued a dividend of $0.76 per share. This represents a dividend yield of 541.0%. The ex-dividend date is Monday, September 8th. This is a positive change from Qfin's previous semi-annual dividend of $0.70. Qfin's dividend payout ratio (DPR) is currently 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.