LexinFintech Holdings Ltd. Sponsored ADR $LX Shares Acquired by Allianz Asset Management GmbH

Allianz Asset Management GmbH grew its holdings in LexinFintech Holdings Ltd. Sponsored ADR (NASDAQ:LX) by 8.4% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 478,513 shares of the company’s stock after buying an additional 36,998 shares during the quarter. Allianz Asset Management GmbH’s holdings in LexinFintech were worth $3,450,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of LX. Janney Montgomery Scott LLC purchased a new position in LexinFintech in the second quarter valued at $75,000. Ballentine Partners LLC acquired a new stake in LexinFintech in the second quarter valued at $86,000. Aigen Investment Management LP acquired a new stake in LexinFintech in the first quarter valued at $103,000. CreativeOne Wealth LLC acquired a new stake in LexinFintech in the first quarter valued at $107,000. Finally, Aviance Capital Partners LLC acquired a new stake in LexinFintech in the first quarter valued at $172,000.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Wall Street Zen upgraded LexinFintech from a “hold” rating to a “buy” rating in a research note on Saturday, September 20th. Weiss Ratings restated a “hold (c+)” rating on shares of LexinFintech in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $13.60.

LexinFintech Price Performance

Shares of LX opened at $5.50 on Friday. LexinFintech Holdings Ltd. Sponsored ADR has a 1-year low of $3.01 and a 1-year high of $11.64. The stock has a market cap of $925.43 million, a PE ratio of 4.33 and a beta of 0.45. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.89 and a quick ratio of 1.88. The firm has a fifty day moving average price of $5.74 and a 200 day moving average price of $6.77.

LexinFintech (NASDAQ:LX) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.20. LexinFintech had a net margin of 11.50% and a return on equity of 14.67%. The firm had revenue of $500.62 million during the quarter, compared to analysts’ expectations of $500.62 million.

LexinFintech announced that its Board of Directors has authorized a share repurchase plan on Monday, July 21st that authorizes the company to repurchase $0.00 in shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.

LexinFintech Increases Dividend

The business also recently declared a semi-annual dividend, which was paid on Monday, September 15th. Investors of record on Tuesday, August 26th were given a $0.194 dividend. This represents a yield of 440.0%. This is a boost from LexinFintech’s previous semi-annual dividend of $0.11. The ex-dividend date of this dividend was Tuesday, August 26th. LexinFintech’s dividend payout ratio is presently 24.41%.

LexinFintech Company 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.