Alliancebernstein L.P. Acquires New Position in Qifu Technology, Inc. (NASDAQ:QFIN)

Alliancebernstein L.P. acquired a new stake in shares of Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,400,993 shares of the company's stock, valued at approximately $92,150,000. Alliancebernstein L.P. owned approximately 1.52% of Qifu Technology as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of QFIN. Jones Financial Companies Lllp purchased a new position in shares of Qifu Technology during the fourth quarter valued at approximately $29,000. Wilmington Savings Fund Society FSB purchased a new position in Qifu Technology during the 3rd quarter worth $30,000. Advisors Preferred LLC bought a new stake in shares of Qifu Technology in the 4th quarter worth $41,000. Point72 DIFC Ltd bought a new position in shares of Qifu Technology during the third quarter valued at about $43,000. Finally, Global Retirement Partners LLC boosted its holdings in Qifu Technology by 80.2% during the fourth quarter. Global Retirement Partners LLC now owns 1,164 shares of the company's stock worth $45,000 after purchasing an additional 518 shares during the last quarter. 74.81% of the stock is owned by institutional investors and hedge funds.

Qifu Technology Stock Performance

NASDAQ:QFIN traded up $1.26 during trading on Tuesday, reaching $37.34. The company's stock had a trading volume of 1,375,286 shares, compared to its average volume of 1,456,306. Qifu Technology, Inc. has a 12 month low of $17.76 and a 12 month high of $48.94. The firm has a market cap of $5.89 billion, a price-to-earnings ratio of 7.54, a price-to-earnings-growth ratio of 0.32 and a beta of 0.53. The firm has a 50 day moving average of $42.59 and a 200-day moving average of $37.58.

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Qifu Technology (NASDAQ:QFIN - Get Free Report) last posted its quarterly earnings data on Sunday, March 16th. The company reported $1.82 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.68 by $0.14. The business had revenue of $613.89 million during the quarter, compared to the consensus estimate of $581.67 million. Qifu Technology had a net margin of 31.82% and a return on equity of 24.39%. Equities research analysts forecast that Qifu Technology, Inc. will post 5.71 earnings per share for the current fiscal year.

Qifu Technology Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Monday, June 2nd. Investors of record on Wednesday, April 23rd will be paid a $0.70 dividend. This is an increase from Qifu Technology's previous semi-annual dividend of $0.60. The ex-dividend date is Wednesday, April 23rd. This represents a yield of 2.5%. Qifu Technology's dividend payout ratio is presently 23.79%.

Analyst Upgrades and Downgrades

Separately, Bank of America lifted their target price on shares of Qifu Technology from $50.66 to $52.70 and gave the stock a "buy" rating in a research report on Wednesday, March 26th.

Qifu Technology Company 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.