Sequoia Financial Advisors LLC Invests $302,000 in Qfin Holdings Inc. – Sponsored ADR $QFIN

Sequoia Financial Advisors LLC purchased a new position in Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 6,973 shares of the company’s stock, valued at approximately $302,000.

Several other large investors have also recently made changes to their positions in QFIN. Krane Funds Advisors LLC raised its stake in Qfin by 24.4% in the first quarter. Krane Funds Advisors LLC now owns 7,032,927 shares of the company’s stock valued at $315,849,000 after buying an additional 1,381,624 shares during the last quarter. Vanguard Group Inc. raised its stake in Qfin by 0.7% in the first 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 during the last quarter. Alliancebernstein L.P. raised its stake in Qfin by 20.8% in the first 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 during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Qfin by 10,812.1% in the first 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 during the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in Qfin by 32.7% in the first 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 during the last quarter. 74.81% of the stock is owned by institutional investors.

Analysts Set New Price Targets

QFIN has been the subject of a number of research analyst reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of Qfin in a research note on Wednesday, October 8th. Zacks Research cut Qfin from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 14th. JPMorgan Chase & Co. started coverage on Qfin in a report on Wednesday, July 2nd. They issued an “overweight” rating and a $65.00 price objective on the stock. Finally, Wall Street Zen lowered Qfin from a “buy” rating to a “hold” rating in a report on Friday, August 22nd. Four research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $51.73.

Qfin Stock Up 2.7%

Shares of QFIN stock opened at $26.18 on Thursday. The stock’s 50-day simple moving average is $29.06 and its 200-day simple moving average is $36.51. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.48 and a current ratio of 3.48. The firm has a market capitalization of $3.72 billion, a PE ratio of 3.70, a P/E/G ratio of 0.27 and a beta of 0.42. Qfin Holdings Inc. – Sponsored ADR has a fifty-two week low of $24.83 and a fifty-two week high of $48.94.

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

Qfin Increases Dividend

The business also recently announced a semi-annual dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 8th were issued a dividend of $0.76 per share. This represents a yield of 541.0%. This is a positive change from Qfin’s previous semi-annual dividend of $0.70. The ex-dividend date of this dividend was Monday, September 8th. Qfin’s dividend payout ratio is 21.19%.

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.