Prudential Financial Inc. Grows Stock Position in Qfin Holdings Inc. – Sponsored ADR $QFIN

Prudential Financial Inc. boosted its holdings in Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) by 107.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 238,368 shares of the company’s stock after acquiring an additional 123,600 shares during the period. Prudential Financial Inc.’s holdings in Qfin were worth $10,336,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SVB Wealth LLC purchased a new stake in Qfin in the first quarter valued at $28,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Qfin during the 1st quarter worth about $29,000. Hantz Financial Services Inc. raised its holdings in Qfin by 472.9% in the 2nd quarter. Hantz Financial Services Inc. now owns 739 shares of the company’s stock valued at $32,000 after buying an additional 610 shares during the period. Hoey Investments Inc. acquired a new position in Qfin in the second quarter valued at about $33,000. Finally, iA Global Asset Management Inc. boosted its stake in Qfin by 250.2% during the second quarter. iA Global Asset Management Inc. now owns 823 shares of the company’s stock worth $36,000 after buying an additional 588 shares during the period. Institutional investors and hedge funds own 74.81% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings downgraded shares of Qfin from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Saturday, October 25th. Wall Street Zen downgraded shares of Qfin from a “buy” rating to a “hold” rating in a report on Friday, August 22nd. JPMorgan Chase & Co. cut Qfin from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $45.00 to $21.00 in a research note on Wednesday, November 19th. Finally, Zacks Research upgraded Qfin from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 18th. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $36.85.

Qfin Trading Up 1.3%

Shares of QFIN stock opened at $19.73 on Friday. Qfin Holdings Inc. – Sponsored ADR has a fifty-two week low of $17.61 and a fifty-two week high of $48.94. The company has a 50 day moving average price of $25.07 and a 200 day moving average price of $33.42. The stock has a market capitalization of $2.80 billion, a P/E ratio of 2.88, a price-to-earnings-growth ratio of 0.21 and a beta of 0.39. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.94 and a current ratio of 2.94.

Qfin (NASDAQ:QFIN) last released its earnings results on Tuesday, November 18th. The company reported $1.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.68 by ($0.16). Qfin had a return on equity of 28.73% and a net margin of 35.09%.The business had revenue of $731.04 million for the quarter, compared to analyst estimates of $693.21 million. Equities research analysts predict that Qfin Holdings Inc. – Sponsored ADR will post 5.71 EPS for the current fiscal year.

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.