Prudential PLC Sells 409,349 Shares of Qfin Holdings Inc. – Sponsored ADR $QFIN

Prudential PLC cut its holdings in Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) by 49.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 411,232 shares of the company’s stock after selling 409,349 shares during the period. Prudential PLC’s holdings in Qfin were worth $7,924,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Qfin during the first quarter valued at $29,000. SBI Securities Co. Ltd. boosted its holdings in shares of Qfin by 6,796.4% in the fourth quarter. SBI Securities Co. Ltd. now owns 1,931 shares of the company’s stock worth $37,000 after acquiring an additional 1,903 shares during the period. PNC Financial Services Group Inc. boosted its holdings in shares of Qfin by 38.0% in the third quarter. PNC Financial Services Group Inc. now owns 4,342 shares of the company’s stock worth $125,000 after acquiring an additional 1,195 shares during the period. Daiwa Securities Group Inc. boosted its holdings in shares of Qfin by 14.3% in the fourth quarter. Daiwa Securities Group Inc. now owns 5,600 shares of the company’s stock worth $108,000 after acquiring an additional 700 shares during the period. Finally, Royal Bank of Canada boosted its holdings in shares of Qfin by 51.7% in the first quarter. Royal Bank of Canada now owns 6,508 shares of the company’s stock worth $293,000 after acquiring an additional 2,219 shares during the period. 74.81% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Xiaohuan Chen purchased 190,000 shares of the stock in a transaction on Friday, March 27th. The shares were acquired at an average price of $12.89 per share, for a total transaction of $2,449,100.00. Following the completion of the transaction, the director directly owned 190,000 shares of the company’s stock, valued at approximately $2,449,100. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. 17.10% of the stock is owned by insiders.

Qfin Trading Down 5.0%

Shares of QFIN stock opened at $14.53 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.22 and a current ratio of 2.22. Qfin Holdings Inc. – Sponsored ADR has a 52-week low of $11.31 and a 52-week high of $46.18. The company has a market capitalization of $2.06 billion, a PE ratio of 2.66, a price-to-earnings-growth ratio of 0.29 and a beta of 0.61. The business’s fifty day moving average is $13.54 and its 200 day moving average is $15.80.

Qfin (NASDAQ:QFIN) last issued its quarterly earnings data on Friday, May 15th. The company reported $1.12 earnings per share (EPS) for the quarter. Qfin had a return on equity of 20.85% and a net margin of 27.48%.The company had revenue of $567.01 million for the quarter. On average, equities research analysts anticipate that Qfin Holdings Inc. – Sponsored ADR will post 3.82 EPS for the current fiscal year.

Qfin Announces Dividend

The firm also recently disclosed a dividend, which was paid on Thursday, May 14th. Investors of record on Wednesday, April 22nd were given a $0.78 dividend. This represents a dividend yield of 1,176.0%. The ex-dividend date was Wednesday, April 22nd. Qfin’s dividend payout ratio (DPR) is 28.21%.

Analyst Ratings Changes

QFIN has been the subject of a number of analyst reports. Weiss Ratings raised Qfin from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, May 26th. Bank of America reaffirmed a “neutral” rating and issued a $15.33 price target on shares of Qfin in a report on Wednesday, May 27th. Finally, Jefferies Financial Group cut their price target on Qfin from $30.30 to $23.40 and set a “buy” rating for the company in a report on Wednesday, March 18th. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Qfin has an average rating of “Hold” and a consensus target price of $19.91.

About Qfin

360 DigiTech, Inc (NASDAQ: QFIN) is a China‐based fintech company that specializes in providing digital lending solutions to underserved consumer and small business markets. Leveraging proprietary credit assessment technologies and big data analytics, the company connects borrowers with a network of financial institutions and investors through its online platform. Its services encompass unsecured consumer loans, installment credit products, and working capital financing for micro and small enterprises.

The company’s flagship platform offers an end‐to‐end digital lending experience, from application and credit evaluation to disbursement and repayment.