Bank of New York Mellon Corp Increases Stock Position in Qifu Technology, Inc. (NASDAQ:QFIN)

Bank of New York Mellon Corp lifted its position in Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) by 4.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 118,758 shares of the company's stock after acquiring an additional 5,549 shares during the period. Bank of New York Mellon Corp owned 0.08% of Qifu Technology worth $4,558,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of QFIN. Wilmington Savings Fund Society FSB purchased a new stake in shares of Qifu Technology during the 3rd quarter valued at approximately $30,000. Advisors Preferred LLC acquired a new position in Qifu Technology during the 4th quarter worth $41,000. Global Retirement Partners LLC raised its holdings in Qifu Technology by 80.2% in the fourth quarter. Global Retirement Partners LLC now owns 1,164 shares of the company's stock valued at $45,000 after acquiring an additional 518 shares in the last quarter. BOCHK Asset Management Ltd acquired a new stake in Qifu Technology in the fourth quarter valued at $46,000. Finally, Point72 DIFC Ltd purchased a new stake in shares of Qifu Technology during the 3rd quarter worth approximately $43,000. Hedge funds and other institutional investors own 74.81% of the company's stock.

Qifu Technology Price Performance

Shares of NASDAQ QFIN traded down $1.14 during trading on Friday, hitting $44.88. 1,384,984 shares of the company were exchanged, compared to its average volume of 1,315,859. The company has a market cap of $7.07 billion, a price-to-earnings ratio of 9.08, a PEG ratio of 0.32 and a beta of 0.59. Qifu Technology, Inc. has a 1 year low of $17.76 and a 1 year high of $48.81. The firm's fifty day moving average price is $41.20 and its 200 day moving average price is $35.84.

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Qifu Technology (NASDAQ:QFIN - Get Free Report) last announced its earnings results 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 company had revenue of $613.89 million during the quarter, compared to analysts' expectations of $581.67 million. Qifu Technology had a net margin of 31.82% and a return on equity of 24.39%. On average, research analysts forecast that Qifu Technology, Inc. will post 5.71 earnings per share for the current year.

Qifu Technology Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Monday, June 2nd. Stockholders of record on Wednesday, April 23rd will be given a $0.70 dividend. This represents a dividend yield of 2.5%. The ex-dividend date of this dividend is Wednesday, April 23rd. This is a positive change from Qifu Technology's previous semi-annual dividend of $0.60. Qifu Technology's payout ratio is currently 20.34%.

Analyst Ratings Changes

Separately, Citigroup raised their price target on Qifu Technology from $31.44 to $37.50 and gave the stock a "buy" rating in a report on Thursday, November 21st.

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.