Panagora Asset Management Inc. Buys 3,219 Shares of Qfin Holdings Inc. – Sponsored ADR $QFIN

Panagora Asset Management Inc. lifted its stake in shares of Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) by 1.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 191,724 shares of the company’s stock after purchasing an additional 3,219 shares during the quarter. Panagora Asset Management Inc. owned about 0.12% of Qfin worth $8,610,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. HB Wealth Management LLC lifted its position in Qfin by 7.2% in the 1st quarter. HB Wealth Management LLC now owns 6,431 shares of the company’s stock valued at $289,000 after acquiring an additional 431 shares in the last quarter. SVB Wealth LLC bought a new position in Qfin in the 1st quarter valued at about $28,000. HighTower Advisors LLC lifted its position in Qfin by 5.6% in the 1st quarter. HighTower Advisors LLC now owns 15,484 shares of the company’s stock valued at $695,000 after acquiring an additional 823 shares in the last quarter. Nuveen Asset Management LLC lifted its position in Qfin by 0.5% in the 4th quarter. Nuveen Asset Management LLC now owns 242,000 shares of the company’s stock valued at $9,288,000 after acquiring an additional 1,100 shares in the last quarter. Finally, Townsquare Capital LLC lifted its position in Qfin by 4.5% in the 1st quarter. Townsquare Capital LLC now owns 26,218 shares of the company’s stock valued at $1,177,000 after acquiring an additional 1,120 shares in the last quarter. Institutional investors own 74.81% of the company’s stock.

Qfin Stock Up 0.4%

Qfin stock opened at $29.12 on Monday. Qfin Holdings Inc. – Sponsored ADR has a 1-year low of $24.30 and a 1-year high of $48.94. The firm has a market capitalization of $4.59 billion, a price-to-earnings ratio of 4.11, a P/E/G 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. The firm has a 50 day simple moving average of $37.34 and a 200 day simple moving average of $40.26.

Qfin (NASDAQ:QFIN) last released its quarterly earnings data on Thursday, August 14th. The company reported $1.78 earnings per share for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $4.68 billion. On average, analysts predict that Qfin Holdings Inc. – Sponsored ADR will post 5.71 earnings per share for the current year.

Qfin Increases Dividend

The company 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 $0.76 dividend. This represents a yield of 440.0%. The ex-dividend date of this dividend is Monday, September 8th. This is a positive change from Qfin’s previous semi-annual dividend of $0.70. Qfin’s payout ratio is 21.19%.

Wall Street Analysts Forecast Growth

QFIN has been the topic of several recent research reports. JPMorgan Chase & Co. initiated coverage on shares of Qfin in a research report on Wednesday, July 2nd. They issued an “overweight” rating and a $65.00 price target on the stock. Wall Street Zen lowered shares of Qfin from a “buy” rating to a “hold” rating in a research note on Friday, August 22nd. Three equities research analysts have rated the stock with a Buy rating, According to MarketBeat, Qfin currently has a consensus rating of “Buy” and an average target price of $51.73.

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.