Norges Bank Acquires Shares of 1,579,428 Qfin Holdings Inc. – Sponsored ADR $QFIN

Norges Bank acquired a new stake in Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,579,428 shares of the company’s stock, valued at approximately $30,436,000. Norges Bank owned about 1.11% of Qfin at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of QFIN. Cape Ann Asset Management Ltd purchased a new position in shares of Qfin during the 3rd quarter worth approximately $14,698,000. OVERSEA CHINESE BANKING Corp Ltd boosted its position in shares of Qfin by 741.9% during the 4th quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 579,568 shares of the company’s stock worth $11,165,000 after purchasing an additional 510,730 shares during the period. Prudential PLC boosted its position in shares of Qfin by 15.8% during the 3rd quarter. Prudential PLC now owns 820,581 shares of the company’s stock worth $23,616,000 after purchasing an additional 112,087 shares during the period. American Century Companies Inc. boosted its position in shares of Qfin by 20.6% during the 3rd quarter. American Century Companies Inc. now owns 794,274 shares of the company’s stock worth $22,859,000 after purchasing an additional 135,462 shares during the period. Finally, Krane Funds Advisors LLC boosted its position in shares of Qfin by 25.1% during the 3rd quarter. Krane Funds Advisors LLC now owns 6,344,592 shares of the company’s stock worth $182,597,000 after purchasing an additional 1,271,942 shares during the period. Institutional investors and hedge funds own 74.81% of the company’s stock.

Insider Activity

In other news, Director Xiaohuan Chen acquired 190,000 shares of the firm’s stock in a transaction dated Friday, March 27th. The stock was acquired at an average cost of $12.89 per share, with a total value of $2,449,100.00. Following the transaction, the director owned 190,000 shares in the company, valued at approximately $2,449,100. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 17.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on QFIN shares. Weiss Ratings raised shares of Qfin from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, May 26th. Bank of America reaffirmed a “neutral” rating and set a $15.33 price objective on shares of Qfin in a research report on Wednesday, May 27th. Finally, Jefferies Financial Group lowered their price objective on shares of Qfin from $30.30 to $23.40 and set a “buy” rating for the company in a research report on Wednesday, March 18th. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $19.91.

Qfin Stock Down 0.2%

Shares of NASDAQ QFIN opened at $14.24 on Wednesday. The stock has a market cap of $1.73 billion, a P/E ratio of 2.61, a PEG ratio of 0.27 and a beta of 0.61. The company has a current ratio of 2.22, a quick ratio of 2.22 and a debt-to-equity ratio of 0.03. Qfin Holdings Inc. – Sponsored ADR has a 12-month low of $11.31 and a 12-month high of $46.18. The business’s fifty day simple moving average is $13.59 and its 200-day simple moving average is $15.66.

Qfin (NASDAQ:QFIN) last announced its quarterly earnings data on Friday, May 15th. The company reported $1.12 earnings per share (EPS) for the quarter. The business had revenue of $567.01 million for the quarter. Qfin had a return on equity of 20.85% and a net margin of 27.48%. As a group, equities analysts predict that Qfin Holdings Inc. – Sponsored ADR will post 3.79 EPS for the current fiscal year.

Qfin Announces Dividend

The company also recently disclosed a dividend, which was paid on Thursday, May 14th. Stockholders of record on Wednesday, April 22nd were given a dividend of $0.78 per share. This represents a dividend yield of 1,176.0%. The ex-dividend date of this dividend was Wednesday, April 22nd. Qfin’s payout ratio is 28.21%.

Qfin Company Profile

360 DigiTech, Inc (NASDAQ: QFIN) is a China‐based fintech company that specializes in providing digital lending solutions to underserved consumer and small business markets. Leveraging proprietary credit assessment technologies and big data analytics, the company connects borrowers with a network of financial institutions and investors through its online platform. Its services encompass unsecured consumer loans, installment credit products, and working capital financing for micro and small enterprises.

The company’s flagship platform offers an end‐to‐end digital lending experience, from application and credit evaluation to disbursement and repayment.