LexinFintech Holdings Ltd. Sponsored ADR $LX Shares Acquired by Allianz Asset Management GmbH

Allianz Asset Management GmbH lifted its position in shares of LexinFintech Holdings Ltd. Sponsored ADR (NASDAQ:LX) by 8.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 478,513 shares of the company’s stock after buying an additional 36,998 shares during the period. Allianz Asset Management GmbH owned approximately 0.28% of LexinFintech worth $3,450,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in LX. Vanguard Group Inc. acquired a new stake in shares of LexinFintech during the 1st quarter worth approximately $44,048,000. Alliancebernstein L.P. increased its holdings in shares of LexinFintech by 1,862.9% during the 1st quarter. Alliancebernstein L.P. now owns 3,715,319 shares of the company’s stock worth $37,488,000 after buying an additional 3,526,039 shares during the last quarter. WT Asset Management Ltd acquired a new stake in LexinFintech in the 1st quarter valued at approximately $20,483,000. BRIGHT VALLEY CAPITAL Ltd increased its holdings in LexinFintech by 33.0% in the 1st quarter. BRIGHT VALLEY CAPITAL Ltd now owns 5,305,208 shares of the company’s stock valued at $53,530,000 after purchasing an additional 1,315,208 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in LexinFintech by 201.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,482,060 shares of the company’s stock valued at $14,954,000 after purchasing an additional 991,075 shares during the last quarter.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Wall Street Zen upgraded shares of LexinFintech from a “hold” rating to a “buy” rating in a report on Saturday, September 20th. Weiss Ratings reiterated a “hold (c+)” rating on shares of LexinFintech in a report on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, LexinFintech presently has an average rating of “Moderate Buy” and a consensus target price of $13.60.

LexinFintech Stock Performance

NASDAQ:LX opened at $5.50 on Friday. The company has a fifty day simple moving average of $5.74 and a two-hundred day simple moving average of $6.77. The company has a market cap of $925.43 million, a price-to-earnings ratio of 4.33 and a beta of 0.45. The company has a quick ratio of 1.88, a current ratio of 1.89 and a debt-to-equity ratio of 0.11. LexinFintech Holdings Ltd. Sponsored ADR has a 52 week low of $3.01 and a 52 week high of $11.64.

LexinFintech (NASDAQ:LX) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.20 by $0.20. The business had revenue of $500.62 million during 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 firm also recently declared a semi-annual dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, August 26th were paid a $0.194 dividend. This represents a dividend yield of 440.0%. This is a positive change from LexinFintech’s previous semi-annual dividend of $0.11. The ex-dividend date was Tuesday, August 26th. LexinFintech’s payout ratio is presently 24.41%.

LexinFintech declared that its board has approved a stock buyback program on Monday, July 21st that allows the company to repurchase $0.00 in shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

About LexinFintech

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.