28,800 Shares in Qifu Technology, Inc. (NASDAQ:QFIN) Bought by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS acquired a new position in Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 28,800 shares of the company's stock, valued at approximately $1,105,000.

Several other large investors also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. raised its stake in Qifu Technology by 5.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 136,368 shares of the company's stock valued at $4,065,000 after purchasing an additional 7,196 shares in the last quarter. Daiwa Securities Group Inc. increased its holdings in shares of Qifu Technology by 18.6% in the 3rd quarter. Daiwa Securities Group Inc. now owns 12,100 shares of the company's stock worth $361,000 after buying an additional 1,900 shares during the last quarter. BNP Paribas Financial Markets raised its position in shares of Qifu Technology by 53.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 370,467 shares of the company's stock valued at $11,044,000 after buying an additional 128,789 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Qifu Technology by 186.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 168,108 shares of the company's stock worth $5,011,000 after acquiring an additional 109,418 shares during the last quarter. Finally, Verition Fund Management LLC bought a new stake in shares of Qifu Technology during the 3rd quarter worth $996,000. Institutional investors own 74.81% of the company's stock.

Qifu Technology Stock Performance

QFIN traded down $2.39 during midday trading on Thursday, hitting $43.48. The stock had a trading volume of 1,913,190 shares, compared to its average volume of 1,439,738. Qifu Technology, Inc. has a 1 year low of $17.76 and a 1 year high of $48.94. The company has a market cap of $6.85 billion, a P/E ratio of 8.80, a price-to-earnings-growth ratio of 0.32 and a beta of 0.59. The business has a fifty day moving average of $42.73 and a 200 day moving average of $37.24.

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

Qifu Technology Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Monday, June 2nd. Investors of record on Wednesday, April 23rd will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Wednesday, April 23rd. This is a boost from Qifu Technology's previous semi-annual dividend of $0.60. This represents a yield of 2.5%. Qifu Technology's dividend payout ratio is currently 23.79%.

Wall Street Analyst Weigh In

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

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.