Norges Bank Takes Position in Qifu Technology, Inc. (NASDAQ:QFIN)

Norges Bank purchased a new stake in shares of Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 1,213,619 shares of the company's stock, valued at approximately $46,579,000. Norges Bank owned about 0.77% of Qifu Technology at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Geode Capital Management LLC raised its stake in Qifu Technology by 3.2% in the third quarter. Geode Capital Management LLC now owns 1,309,635 shares of the company's stock valued at $38,866,000 after purchasing an additional 41,139 shares in the last quarter. Asset Management One Co. Ltd. increased its holdings in shares of Qifu Technology by 66.8% in 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 last quarter. Sanctuary Advisors LLC purchased a new stake in shares of Qifu Technology during the 3rd quarter valued at $1,061,000. KBC Group NV lifted its holdings in shares of 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. Finally, Dorsey Wright & Associates grew its position in Qifu Technology by 13.4% in the third quarter. Dorsey Wright & Associates now owns 131,812 shares of the company's stock worth $3,929,000 after acquiring an additional 15,585 shares in the last quarter. Institutional investors own 74.81% of the company's stock.

Qifu Technology Stock Performance

QFIN traded up $0.93 during midday trading on Wednesday, hitting $36.79. The stock had a trading volume of 3,809,154 shares, compared to its average volume of 1,478,742. Qifu Technology, Inc. has a 1 year low of $17.76 and a 1 year high of $48.94. The business has a fifty day moving average of $42.21 and a 200 day moving average of $37.70. The company has a market cap of $5.80 billion, a P/E ratio of 7.45, a price-to-earnings-growth ratio of 0.32 and a beta of 0.53.

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Qifu Technology (NASDAQ:QFIN - Get Free Report) last announced its quarterly earnings data on Sunday, March 16th. The company reported $1.82 earnings per share (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 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, equities research analysts anticipate that Qifu Technology, Inc. will post 5.71 earnings per share for the current year.

Qifu Technology Increases Dividend

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

Wall Street Analysts Forecast Growth

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 report on Wednesday, March 26th.

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.