Invesco Ltd. Raises Stock Position in LexinFintech Holdings Ltd. Sponsored ADR $LX

Invesco Ltd. increased its stake in LexinFintech Holdings Ltd. Sponsored ADR (NASDAQ:LX) by 2.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 118,893 shares of the company’s stock after purchasing an additional 2,616 shares during the quarter. Invesco Ltd. owned 0.07% of LexinFintech worth $1,200,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in LX. Raymond James Financial Inc. bought a new position in LexinFintech in the fourth quarter worth approximately $157,000. Dimensional Fund Advisors LP raised its position in LexinFintech by 21.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,793,751 shares of the company’s stock worth $10,409,000 after acquiring an additional 315,243 shares during the period. Tower Research Capital LLC TRC raised its position in LexinFintech by 146.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 12,160 shares of the company’s stock worth $71,000 after acquiring an additional 7,227 shares during the period. Tudor Investment Corp ET AL bought a new position in LexinFintech in the fourth quarter worth approximately $585,000. Finally, Ameriprise Financial Inc. bought a new position in LexinFintech in the fourth quarter worth approximately $61,000.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded shares of LexinFintech from a “buy” rating to a “hold” rating in a research report on Sunday. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat, LexinFintech presently has an average rating of “Buy” and an average price target of $13.60.

LexinFintech Stock Up 1.1%

Shares of LX stock opened at $6.32 on Tuesday. The company has a market capitalization of $1.06 billion, a price-to-earnings ratio of 4.98 and a beta of 0.54. LexinFintech Holdings Ltd. Sponsored ADR has a one year low of $1.63 and a one year high of $11.64. The company’s fifty day moving average price is $6.77 and its 200-day moving average price is $7.79. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.89 and a quick ratio of 1.88.

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

LexinFintech Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, August 26th will be given a dividend of $0.194 per share. This represents a dividend yield of 440.0%. The ex-dividend date is Tuesday, August 26th. This is a positive change from LexinFintech’s previous semi-annual dividend of $0.11. LexinFintech’s payout ratio is 24.41%.

LexinFintech announced that its Board of Directors has approved a stock buyback plan on Monday, July 21st that permits the company to buyback $0.00 in outstanding shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

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.