Qfin Holdings Inc. – Sponsored ADR $QFIN is E Fund Management Hong Kong Co. Ltd.’s 9th Largest Position

E Fund Management Hong Kong Co. Ltd. lessened its position in shares of Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) by 9.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 42,783 shares of the company’s stock after selling 4,491 shares during the period. Qfin makes up 1.8% of E Fund Management Hong Kong Co. Ltd.’s portfolio, making the stock its 9th biggest position. E Fund Management Hong Kong Co. Ltd.’s holdings in Qfin were worth $1,855,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its position in Qfin by 6.1% during the first quarter. Bank of New York Mellon Corp now owns 125,955 shares of the company’s stock valued at $5,657,000 after acquiring an additional 7,197 shares during the period. Citigroup Inc. boosted its position in shares of Qfin by 3.2% in the first quarter. Citigroup Inc. now owns 277,647 shares of the company’s stock worth $12,469,000 after buying an additional 8,515 shares during the period. Yousif Capital Management LLC purchased a new stake in shares of Qfin in the first quarter worth about $209,000. Oppenheimer & Co. Inc. purchased a new stake in shares of Qfin in the first quarter worth about $208,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Qfin by 183.8% in the first 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. Hedge funds and other institutional investors own 74.81% of the company’s stock.

Qfin Stock Up 0.9%

Shares of Qfin stock opened at $28.52 on Thursday. 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 business’s 50 day simple moving average is $30.54 and its 200-day simple moving average is $37.78. The stock has a market capitalization of $4.05 billion, a price-to-earnings ratio of 4.03, a PEG ratio of 0.29 and a beta of 0.42. Qfin Holdings Inc. – Sponsored ADR has a twelve month low of $27.64 and a twelve month high of $48.94.

Qfin (NASDAQ:QFIN) last announced its quarterly earnings results 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). The company had revenue of $728.00 million for the quarter, compared to analyst estimates of $4.68 billion. Qfin had a return on equity of 30.74% and a net margin of 38.66%. Equities research analysts forecast that Qfin Holdings Inc. – Sponsored ADR will post 5.71 earnings per share for the current year.

Qfin Increases Dividend

The firm also recently announced a semi-annual dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 8th were given a $0.76 dividend. The ex-dividend date was Monday, September 8th. This represents a yield of 541.0%. This is an increase from Qfin’s previous semi-annual dividend of $0.70. Qfin’s payout ratio is 21.19%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Wall Street Zen downgraded Qfin from a “buy” rating to a “hold” rating in a research report on Friday, August 22nd. JPMorgan Chase & Co. began coverage on Qfin in a research report on Wednesday, July 2nd. They issued an “overweight” rating and a $65.00 target price for the company. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Qfin in a report on Wednesday. Four investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has an average 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.