LPL Financial LLC Acquires 11,502 Shares of Qifu Technology, Inc. (NASDAQ:QFIN)

LPL Financial LLC raised its holdings in shares of Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) by 90.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,179 shares of the company's stock after purchasing an additional 11,502 shares during the quarter. LPL Financial LLC's holdings in Qifu Technology were worth $928,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Jones Financial Companies Lllp purchased a new stake in Qifu Technology in the 4th quarter valued at about $29,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Qifu Technology during the third quarter valued at approximately $30,000. Advisors Preferred LLC purchased a new stake in shares of Qifu Technology in the fourth quarter valued at approximately $41,000. Global Retirement Partners LLC grew its stake in Qifu Technology by 80.2% in 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 in the last quarter. Finally, BOCHK Asset Management Ltd purchased a new position in Qifu Technology during the 4th quarter worth $46,000. 74.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Qifu Technology Stock Performance

NASDAQ QFIN opened at $35.62 on Monday. The company has a market cap of $5.61 billion, a PE ratio of 7.21, a P/E/G ratio of 0.32 and a beta of 0.53. The firm's 50 day moving average price is $41.55 and its 200-day moving average price is $38.11. Qifu Technology, Inc. has a 52-week low of $17.95 and a 52-week high of $48.94.

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 for the quarter, topping analysts' consensus estimates of $1.68 by $0.14. The firm had revenue of $613.89 million during the quarter, compared to analysts' expectations of $581.67 million. Qifu Technology had a return on equity of 24.39% and a net margin of 31.82%. On average, analysts forecast that Qifu Technology, Inc. will post 5.71 earnings per share for the current fiscal year.

Qifu Technology Increases Dividend

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

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.

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