Marshall Wace LLP Has $51.86 Million Position in Qifu Technology, Inc. (NASDAQ:QFIN)

Marshall Wace LLP boosted its holdings in shares of Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) by 67.5% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,351,277 shares of the company's stock after acquiring an additional 544,666 shares during the period. Marshall Wace LLP owned 0.86% of Qifu Technology worth $51,862,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Geode Capital Management LLC grew its stake in shares of Qifu Technology by 3.2% during the third quarter. Geode Capital Management LLC now owns 1,309,635 shares of the company's stock worth $38,866,000 after purchasing an additional 41,139 shares during the period. Asset Management One Co. Ltd. grew its position in shares of Qifu Technology by 66.8% during the 4th quarter. Asset Management One Co. Ltd. now owns 32,873 shares of the company's stock worth $1,255,000 after buying an additional 13,170 shares during the period. Sanctuary Advisors LLC bought a new stake in shares of Qifu Technology in the 3rd quarter valued at about $1,061,000. Raymond James Financial Inc. acquired a new stake in shares of Qifu Technology in the 4th quarter valued at approximately $298,000. Finally, KBC Group NV boosted its stake in Qifu Technology by 279.6% during the 4th quarter. KBC Group NV now owns 35,381 shares of the company's stock worth $1,358,000 after acquiring an additional 26,061 shares during the last quarter. Institutional investors own 74.81% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Bank of America upped their target price on shares of 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 Price Performance

Shares of Qifu Technology stock opened at $35.62 on Friday. The company has a market capitalization of $5.61 billion, a P/E ratio of 7.21, a price-to-earnings-growth ratio of 0.32 and a beta of 0.53. The business has a 50-day moving average of $41.67 and a two-hundred day moving average of $38.00. Qifu Technology, Inc. has a 1 year low of $17.95 and a 1 year high of $48.94.

Qifu Technology (NASDAQ:QFIN - Get Free Report) last posted 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. Qifu Technology had a return on equity of 24.39% and a net margin of 31.82%. The business had revenue of $613.89 million during the quarter, compared to analysts' expectations of $581.67 million. On average, equities analysts anticipate that Qifu Technology, Inc. will post 5.71 EPS for the current fiscal year.

Qifu Technology Increases Dividend

The business also recently disclosed 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. This represents a dividend yield of 2.5%. This is a positive change 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 dividend payout ratio (DPR) 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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