4,365,520 Shares in LexinFintech Holdings Ltd. Sponsored ADR $LX Acquired by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. has invested approximately $44.05 million in LexinFintech Holdings, acquiring over 4.3 million shares, which represents a 2.59% stake in the company.
• LexinFintech has received a "buy" rating from analysts at Wall Street Zen, with an average price target of $13.60 per share.
• The company recently declared a semi-annual dividend of $0.194 per share, a notable increase from its previous dividend of $0.11, representing a 440% yield.

Vanguard Group Inc. acquired a new stake in shares of LexinFintech Holdings Ltd. Sponsored ADR (NASDAQ:LX - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 4,365,520 shares of the company's stock, valued at approximately $44,048,000. Vanguard Group Inc. owned approximately 2.59% of LexinFintech as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. bought a new position in LexinFintech during the 4th quarter valued at approximately $61,000. Tower Research Capital LLC TRC boosted its stake in LexinFintech by 146.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 12,160 shares of the company's stock valued at $71,000 after purchasing an additional 7,227 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in LexinFintech during the 4th quarter valued at $157,000. Ritholtz Wealth Management purchased a new stake in LexinFintech during the 1st quarter valued at $164,000. Finally, NewEdge Advisors LLC purchased a new stake in LexinFintech during the 4th quarter valued at $166,000.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded LexinFintech from a "hold" rating to a "buy" rating in a research note on Saturday, August 23rd. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of "Buy" and an average price target of $13.60.

LexinFintech Price Performance

LX remained flat at $6.25 on Thursday. The company had a trading volume of 3,656,629 shares, compared to its average volume of 3,873,345. The firm has a market cap of $1.05 billion, a P/E ratio of 4.92 and a beta of 0.47. LexinFintech Holdings Ltd. Sponsored ADR has a 12 month low of $1.63 and a 12 month high of $11.64. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.88 and a current ratio of 1.89. The company's 50-day moving average is $6.80 and its two-hundred day moving average is $7.82.

LexinFintech (NASDAQ:LX - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.20 by $0.20. LexinFintech had a return on equity of 14.67% and a net margin of 11.50%.The company had revenue of $500.62 million during the quarter, compared to analyst estimates of $500.62 million.

LexinFintech Increases Dividend

The company also recently declared a semi-annual dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, August 26th will be issued a $0.194 dividend. The ex-dividend date is Tuesday, August 26th. This is a positive change from LexinFintech's previous semi-annual dividend of $0.11. This represents a dividend yield of 440.0%. LexinFintech's dividend payout ratio (DPR) is presently 24.41%.

LexinFintech declared that its Board of Directors has approved a share repurchase program on Monday, July 21st that allows the company to repurchase $0.00 in shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company's leadership believes its stock is undervalued.

LexinFintech Profile

LexinFintech Holdings Ltd., through its subsidiaries, provides online consumer finance services in the People's Republic of China. The company operates Fenqile.com, an online consumption and consumer finance platform that offers installment purchase and personal installment loans, as well as online direct sales with installment payment terms; and Le Hua Card, a scenario-based lending.