Arrowstreet Capital Limited Partnership Grows Stake in Qifu Technology, Inc. (NASDAQ:QFIN)

Arrowstreet Capital Limited Partnership increased its position in Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) by 10.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,478,319 shares of the company's stock after acquiring an additional 134,326 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 0.94% of Qifu Technology worth $56,738,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp bought a new stake in Qifu Technology during the fourth quarter valued at about $29,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Qifu Technology during the third quarter worth about $30,000. Advisors Preferred LLC bought a new stake in Qifu Technology during the 4th quarter valued at approximately $41,000. Point72 DIFC Ltd purchased a new position in Qifu Technology in the 3rd quarter worth approximately $43,000. Finally, Global Retirement Partners LLC boosted its stake in Qifu Technology by 80.2% in the 4th 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 period. Institutional investors own 74.81% of the company's stock.

Analyst Upgrades and Downgrades

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

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Qifu Technology Stock Down 12.0 %

QFIN stock traded down $5.23 during mid-day trading on Friday, hitting $38.25. The company had a trading volume of 3,218,351 shares, compared to its average volume of 1,449,685. The company has a market capitalization of $6.03 billion, a price-to-earnings ratio of 7.74, a P/E/G ratio of 0.32 and a beta of 0.53. The company has a 50-day moving average price of $42.69 and a 200 day moving average price of $37.51. Qifu Technology, Inc. has a 12-month low of $17.76 and a 12-month high of $48.94.

Qifu Technology (NASDAQ:QFIN - Get Free Report) last announced its quarterly earnings results on Sunday, March 16th. The company reported $1.82 EPS for the quarter, beating analysts' consensus estimates of $1.68 by $0.14. The company had revenue of $613.89 million during the quarter, compared to analyst estimates of $581.67 million. Qifu Technology had a return on equity of 24.39% and a net margin of 31.82%. As a group, analysts expect that Qifu Technology, Inc. will post 5.71 EPS for the current year.

Qifu Technology Increases Dividend

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

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.