Qifu Technology, Inc. (NASDAQ:QFIN) Shares Purchased by RWC Asset Management LLP

RWC Asset Management LLP raised its holdings in shares of Qifu Technology, Inc. (NASDAQ:QFIN) by 42.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 58,505 shares of the company’s stock after buying an additional 17,427 shares during the period. RWC Asset Management LLP’s holdings in Qifu Technology were worth $926,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of QFIN. Canada Pension Plan Investment Board grew its stake in Qifu Technology by 138.5% during the 3rd quarter. Canada Pension Plan Investment Board now owns 470,910 shares of the company’s stock valued at $7,233,000 after purchasing an additional 273,500 shares in the last quarter. Acadian Asset Management LLC grew its stake in Qifu Technology by 1,209.4% during the 3rd quarter. Acadian Asset Management LLC now owns 243,365 shares of the company’s stock valued at $3,726,000 after purchasing an additional 224,779 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Qifu Technology during the 3rd quarter valued at approximately $3,249,000. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Qifu Technology by 96.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 329,454 shares of the company’s stock worth $5,060,000 after acquiring an additional 161,361 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its position in shares of Qifu Technology by 131.7% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 266,536 shares of the company’s stock worth $4,094,000 after acquiring an additional 151,510 shares in the last quarter. Institutional investors and hedge funds own 74.81% of the company’s stock.

Analyst Ratings Changes

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

Qifu Technology Stock Down 1.9 %

Shares of QFIN traded down $0.35 during mid-day trading on Friday, hitting $18.52. The stock had a trading volume of 1,469,937 shares, compared to its average volume of 966,443. The company has a market cap of $2.99 billion, a PE ratio of 5.06, a PEG ratio of 0.44 and a beta of 0.62. The company’s fifty day simple moving average is $17.67 and its two-hundred day simple moving average is $16.00. Qifu Technology, Inc. has a fifty-two week low of $13.12 and a fifty-two week high of $20.61.

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

Qifu Technology Increases Dividend

The business also recently declared a semi-annual dividend, which will be paid on Friday, May 24th. Investors of record on Monday, April 15th will be issued a $0.57 dividend. This is an increase from Qifu Technology’s previous semi-annual dividend of $0.50. The ex-dividend date is Friday, April 12th. This represents a dividend yield of 5.7%. Qifu Technology’s dividend payout ratio (DPR) is 31.15%.

About Qifu Technology

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.