E Fund Management Co. Ltd. Boosts Stock Holdings in Qifu Technology, Inc. (NASDAQ:QFIN)

E Fund Management Co. Ltd. raised its stake in Qifu Technology, Inc. (NASDAQ:QFIN) by 1.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 920,787 shares of the company’s stock after purchasing an additional 15,427 shares during the quarter. Qifu Technology comprises approximately 0.9% of E Fund Management Co. Ltd.’s holdings, making the stock its 17th biggest holding. E Fund Management Co. Ltd. owned approximately 0.57% of Qifu Technology worth $14,567,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in QFIN. abrdn plc grew its position in Qifu Technology by 1.8% during the third quarter. abrdn plc now owns 86,850 shares of the company’s stock valued at $1,334,000 after acquiring an additional 1,519 shares during the period. Shell Asset Management Co. grew its holdings in shares of Qifu Technology by 9.2% during the 3rd quarter. Shell Asset Management Co. now owns 27,686 shares of the company’s stock worth $425,000 after purchasing an additional 2,323 shares during the period. Quantbot Technologies LP grew its holdings in shares of Qifu Technology by 60.0% during the 3rd quarter. Quantbot Technologies LP now owns 7,437 shares of the company’s stock worth $114,000 after purchasing an additional 2,789 shares during the period. Altfest L J & Co. Inc. lifted its position in Qifu Technology by 16.0% during the fourth quarter. Altfest L J & Co. Inc. now owns 22,960 shares of the company’s stock valued at $363,000 after buying an additional 3,171 shares in the last quarter. Finally, Employees Retirement System of Texas acquired a new stake in shares of Qifu Technology in the third quarter worth $51,000. 74.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Citigroup raised their price objective on Qifu Technology from $23.54 to $23.80 and gave the company a “buy” rating in a research report on Thursday, March 14th.

Qifu Technology Price Performance

QFIN traded up $0.99 on Thursday, reaching $20.90. The company’s stock had a trading volume of 946,468 shares, compared to its average volume of 1,108,666. The business’s 50 day moving average is $18.28 and its 200 day moving average is $16.20. The stock has a market cap of $3.37 billion, a price-to-earnings ratio of 5.68, a price-to-earnings-growth ratio of 0.45 and a beta of 0.57. Qifu Technology, Inc. has a 1 year low of $13.12 and a 1 year high of $20.99.

Qifu Technology (NASDAQ:QFIN) last posted its quarterly earnings results on Tuesday, March 12th. The company reported $0.96 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.96. Qifu Technology had a net margin of 26.29% and a return on equity of 20.44%. The company had revenue of $633.18 million for the quarter, compared to the consensus estimate of $597.09 million. As a group, research analysts forecast that Qifu Technology, Inc. will post 4.31 earnings per share for the current fiscal year.

Qifu Technology Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Friday, May 24th. Stockholders of record on Monday, April 15th will be paid a $0.57 dividend. This is a boost from Qifu Technology’s previous semi-annual dividend of $0.50. The ex-dividend date of this dividend is Friday, April 12th. This represents a dividend yield of 5.7%. Qifu Technology’s dividend payout ratio is presently 31.15%.

Qifu Technology 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.