Allianz Asset Management GmbH Grows Holdings in Qfin Holdings Inc. – Sponsored ADR $QFIN

Allianz Asset Management GmbH increased its position in Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) by 1.9% in the 2nd quarter, HoldingsChannel reports. The fund owned 752,505 shares of the company’s stock after buying an additional 14,357 shares during the quarter. Allianz Asset Management GmbH’s holdings in Qfin were worth $32,629,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Krane Funds Advisors LLC increased its holdings in Qfin by 24.4% in the 1st quarter. Krane Funds Advisors LLC now owns 7,032,927 shares of the company’s stock worth $315,849,000 after acquiring an additional 1,381,624 shares in the last quarter. Vanguard Group Inc. grew its holdings in Qfin by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 4,572,985 shares of the company’s stock valued at $205,373,000 after buying an additional 31,155 shares in the last quarter. Alliancebernstein L.P. grew its holdings in Qfin by 20.8% during the 1st quarter. Alliancebernstein L.P. now owns 2,901,566 shares of the company’s stock valued at $130,309,000 after buying an additional 500,573 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in Qfin by 10,812.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,042,306 shares of the company’s stock valued at $91,720,000 after buying an additional 2,023,590 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in Qfin by 32.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,603,830 shares of the company’s stock valued at $72,028,000 after buying an additional 395,589 shares in the last quarter. 74.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on QFIN. Wall Street Zen lowered shares of Qfin from a “buy” rating to a “hold” rating in a report on Friday, August 22nd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Qfin in a report on Wednesday, October 8th. JPMorgan Chase & Co. began coverage on shares of Qfin in a report on Wednesday, July 2nd. They set an “overweight” rating and a $65.00 price objective for the company. Finally, Zacks Research lowered shares of Qfin from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 14th. Four analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $51.73.

Qfin Stock Performance

Shares of NASDAQ:QFIN opened at $25.21 on Friday. Qfin Holdings Inc. – Sponsored ADR has a 52 week low of $24.83 and a 52 week high of $48.94. The stock has a market capitalization of $3.58 billion, a P/E ratio of 3.56, a PEG ratio of 0.26 and a beta of 0.42. The firm has a fifty day simple moving average of $29.55 and a two-hundred day simple moving average of $36.80. The company has a quick ratio of 3.48, a current ratio of 3.48 and a debt-to-equity ratio of 0.20.

Qfin (NASDAQ:QFIN) last issued its quarterly earnings data on Thursday, August 14th. The company reported $1.78 EPS for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.01). Qfin had a return on equity of 30.74% and a net margin of 38.66%.The business had revenue of $728.00 million during the quarter, compared to analysts’ expectations of $4.68 billion. On average, analysts expect that Qfin Holdings Inc. – Sponsored ADR will post 5.71 earnings per share for the current fiscal year.

Qfin Increases Dividend

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

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.