Vanguard Group Inc. Acquires 31,155 Shares of Qfin Holdings Inc. - Sponsored ADR $QFIN

Key Points

• Vanguard Group Inc. increased its stake in Qfin Holdings Inc. by 0.7% during the first quarter, acquiring a total of 4,572,985 shares valued at approximately $205 million.
• Qfin Holdings declared a semi-annual dividend increase to $0.76 per share, with an ex-dividend date of September 8, representing a yield of 440%.
• Following recent earnings results, analysts have mixed ratings on Qfin, with a consensus target price of $51.73 and a recent downgrade from "strong-buy" to "buy" by Wall Street Zen.

Vanguard Group Inc. boosted its position in shares of Qfin Holdings Inc. - Sponsored ADR (NASDAQ:QFIN - Free Report) by 0.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,572,985 shares of the company's stock after acquiring an additional 31,155 shares during the period. Vanguard Group Inc. owned 2.90% of Qfin worth $205,373,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. GeoWealth Management LLC purchased a new position in Qfin during the fourth quarter valued at approximately $26,000. Virtus Investment Advisers Inc. purchased a new position in Qfin during the fourth quarter valued at approximately $61,000. State of Wyoming purchased a new position in Qfin during the fourth quarter valued at approximately $97,000. Burns Matteson Capital Management LLC purchased a new position in Qfin during the first quarter valued at approximately $201,000. Finally, Ballentine Partners LLC purchased a new position in Qfin during the first quarter valued at approximately $206,000. Hedge funds and other institutional investors own 74.81% of the company's stock.

Analyst Upgrades and Downgrades

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

Qfin Price Performance

QFIN stock traded down $0.38 during midday trading on Monday, reaching $31.07. The company had a trading volume of 1,333,152 shares, compared to its average volume of 2,249,320. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.48 and a quick ratio of 3.48. Qfin Holdings Inc. - Sponsored ADR has a 1 year low of $24.30 and a 1 year high of $48.94. The company has a market capitalization of $4.90 billion, a P/E ratio of 4.39, a P/E/G ratio of 0.32 and a beta of 0.39. The firm has a 50-day moving average price of $38.41 and a 200-day moving average price of $40.64.

Qfin (NASDAQ:QFIN - Get Free Report) last released its quarterly earnings results on Thursday, August 14th. The company reported $1.78 EPS for the quarter, missing analysts' consensus estimates of $1.79 by ($0.01). The company had revenue of $728.00 million during the quarter, compared to analysts' expectations of $4.68 billion. Qfin had a return on equity of 30.74% and a net margin of 38.66%. On average, research analysts anticipate 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 disclosed a semi-annual dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 8th will be issued a $0.76 dividend. This represents a dividend yield of 440.0%. 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 presently 21.19%.

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.