Swedbank AB Has $58.47 Million Holdings in Qfin Holdings Inc. - Sponsored ADR $QFIN

Key Points

• Swedbank AB increased its stake in Qfin Holdings Inc. by 45.4%, owning approximately 1.3 million shares valued at $58.47 million at the end of the most recent quarter.
• Qfin recently declared a semi-annual dividend of $0.76, representing a significant yield of 541.0%, which is an increase from the previous dividend of $0.70.
• Qfin's stock has faced fluctuations, with a 12-month range between $24.78 and $48.94, reflecting a market cap of $4.47 billion.

Swedbank AB raised its position in shares of Qfin Holdings Inc. - Sponsored ADR (NASDAQ:QFIN - Free Report) by 45.4% in the first quarter, according to its most recent filing with the SEC. The firm owned 1,301,900 shares of the company's stock after purchasing an additional 406,600 shares during the quarter. Swedbank AB owned approximately 0.83% of Qfin worth $58,468,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in QFIN. Mirae Asset Global Investments Co. Ltd. increased its position in Qfin by 10,812.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,042,306 shares of the company's stock valued at $91,720,000 after purchasing an additional 2,023,590 shares during the period. Krane Funds Advisors LLC grew its position in shares of Qfin by 24.4% during the 1st quarter. Krane Funds Advisors LLC now owns 7,032,927 shares of the company's stock worth $315,849,000 after buying an additional 1,381,624 shares during the period. Keystone Investors PTE Ltd. acquired a new stake in shares of Qfin during the 1st quarter worth approximately $52,814,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Qfin by 183.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 888,680 shares of the company's stock worth $39,911,000 after buying an additional 575,545 shares during the period. Finally, Panview Capital Ltd acquired a new stake in shares of Qfin during the 1st quarter worth approximately $24,925,000. Institutional investors and hedge funds own 74.81% of the company's stock.

Qfin Stock Performance

NASDAQ QFIN opened at $28.36 on Friday. The company has a fifty day simple moving average of $34.30 and a 200 day simple moving average of $39.33. Qfin Holdings Inc. - Sponsored ADR has a 12-month low of $24.78 and a 12-month 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 company has a market cap of $4.47 billion, a P/E ratio of 4.01, a PEG ratio of 0.29 and a beta of 0.45.

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 the consensus estimate of $1.79 by ($0.01). Qfin had a net margin of 38.66% and a return on equity of 30.74%. The business had revenue of $728.00 million during the quarter, compared to analyst estimates of $4.68 billion. Sell-side 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. Investors of record on Monday, September 8th will be given a $0.76 dividend. This represents a yield of 541.0%. The ex-dividend date of this dividend is Monday, September 8th. This is an increase from Qfin's previous semi-annual dividend of $0.70. Qfin's payout ratio is 21.19%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on QFIN. JPMorgan Chase & Co. began coverage on shares of 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 shares of Qfin from a "buy" rating to a "hold" rating in a research report on Friday, August 22nd. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.