Qifu Technology (NASDAQ:QFIN) Sets New 52-Week High at $32.35

Qifu Technology, Inc. (NASDAQ:QFIN - Get Free Report) shares hit a new 52-week high on Wednesday . The stock traded as high as $32.35 and last traded at $32.35, with a volume of 30181 shares. The stock had previously closed at $30.86.

Qifu Technology Price Performance

The firm's 50-day simple moving average is $24.00 and its two-hundred day simple moving average is $21.11. The company has a market capitalization of $5.35 billion, a price-to-earnings ratio of 8.44, a price-to-earnings-growth ratio of 0.51 and a beta of 0.62.

Qifu Technology (NASDAQ:QFIN - Get Free Report) last issued its earnings results on Tuesday, August 13th. The company reported $1.22 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.23. Qifu Technology had a net margin of 28.06% and a return on equity of 21.82%. The company had revenue of $572.44 million for the quarter, compared to analyst estimates of $582.69 million. On average, analysts expect that Qifu Technology, Inc. will post 4.94 EPS for the current fiscal year.

Qifu Technology Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, September 27th will be given a dividend of $0.60 per share. This is a positive change from Qifu Technology's previous semi-annual dividend of $0.57. This represents a yield of 4.7%. The ex-dividend date is Friday, September 27th. Qifu Technology's dividend payout ratio is presently 30.57%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sompo Asset Management Co. Ltd. grew its position in shares of Qifu Technology by 2.4% in the fourth quarter. Sompo Asset Management Co. Ltd. now owns 38,500 shares of the company's stock valued at $609,000 after purchasing an additional 890 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. grew its position in shares of Qifu Technology by 1.1% in the second quarter. E Fund Management Hong Kong Co. Ltd. now owns 97,036 shares of the company's stock valued at $1,915,000 after purchasing an additional 1,012 shares during the last quarter. Parallel Advisors LLC grew its position in shares of Qifu Technology by 83.9% in the fourth quarter. Parallel Advisors LLC now owns 2,426 shares of the company's stock valued at $38,000 after purchasing an additional 1,107 shares during the last quarter. Handelsinvest Investeringsforvaltning grew its position in shares of Qifu Technology by 14.3% in the first quarter. Handelsinvest Investeringsforvaltning now owns 10,828 shares of the company's stock valued at $200,000 after purchasing an additional 1,353 shares during the last quarter. Finally, Janiczek Wealth Management LLC grew its position in shares of Qifu Technology by 131.4% in the first quarter. Janiczek Wealth Management LLC now owns 2,386 shares of the company's stock valued at $44,000 after purchasing an additional 1,355 shares during the last quarter. 74.81% of the stock is currently owned by institutional investors and hedge funds.

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.