Trexquant Investment LP Purchases 107,541 Shares of Qifu Technology, Inc. (NASDAQ:QFIN)

Trexquant Investment LP grew its stake in shares of Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) by 95.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 220,686 shares of the company's stock after buying an additional 107,541 shares during the quarter. Trexquant Investment LP owned approximately 0.14% of Qifu Technology worth $8,470,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Jones Financial Companies Lllp bought a new position in Qifu Technology in the fourth quarter valued at about $29,000. Wilmington Savings Fund Society FSB bought a new position in Qifu Technology in the 3rd quarter valued at approximately $30,000. Advisors Preferred LLC acquired a new stake in Qifu Technology during the 4th quarter worth approximately $41,000. Global Retirement Partners LLC boosted its position in Qifu Technology by 80.2% during the 4th quarter. Global Retirement Partners LLC now owns 1,164 shares of the company's stock worth $45,000 after buying an additional 518 shares during the period. Finally, BOCHK Asset Management Ltd acquired a new position in Qifu Technology in the 4th quarter valued at approximately $46,000. 74.81% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Bank of America lifted their price target on shares of Qifu Technology from $50.66 to $52.70 and gave the stock a "buy" rating in a report on Wednesday, March 26th.

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Qifu Technology Price Performance

Shares of Qifu Technology stock traded up $0.93 during midday trading on Wednesday, reaching $36.79. The company had a trading volume of 3,809,154 shares, compared to its average volume of 1,478,387. The stock has a fifty day moving average price of $42.21 and a 200 day moving average price of $37.70. Qifu Technology, Inc. has a fifty-two week low of $17.76 and a fifty-two week high of $48.94. The firm has a market cap of $5.80 billion, a PE ratio of 7.45, a P/E/G ratio of 0.32 and a beta of 0.53.

Qifu Technology (NASDAQ:QFIN - Get Free Report) last issued its quarterly 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 net margin of 31.82% and a return on equity of 24.39%. The firm had revenue of $613.89 million for the quarter, compared to the consensus estimate of $581.67 million. As a group, sell-side analysts forecast that Qifu Technology, Inc. will post 5.71 EPS for the current year.

Qifu Technology Increases Dividend

The firm 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 $0.70 dividend. This represents a dividend yield of 2.5%. This is an increase from Qifu Technology's previous semi-annual dividend of $0.60. The ex-dividend date is Wednesday, April 23rd. Qifu Technology's payout ratio is currently 23.79%.

About Qifu Technology

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.