Raymond James Financial Inc. Invests $298,000 in Qifu Technology, Inc. (NASDAQ:QFIN)

Raymond James Financial Inc. purchased a new position in Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 7,772 shares of the company's stock, valued at approximately $298,000.

Several other institutional investors and hedge funds have also made changes to their positions in QFIN. Charles Schwab Investment Management Inc. boosted its stake in Qifu Technology by 5.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 136,368 shares of the company's stock valued at $4,065,000 after purchasing an additional 7,196 shares in the last quarter. Quantinno Capital Management LP boosted its position in shares of Qifu Technology by 9.2% during the 3rd quarter. Quantinno Capital Management LP now owns 16,456 shares of the company's stock valued at $491,000 after purchasing an additional 1,380 shares in the last quarter. State Street Corp grew its stake in shares of Qifu Technology by 5.8% in the 3rd quarter. State Street Corp now owns 2,324,831 shares of the company's stock worth $70,637,000 after purchasing an additional 128,381 shares during the last quarter. Wolverine Trading LLC acquired a new stake in Qifu Technology during the third quarter valued at approximately $253,000. Finally, Wellington Management Group LLP boosted its holdings in Qifu Technology by 238.8% during the third quarter. Wellington Management Group LLP now owns 229,908 shares of the company's stock worth $6,854,000 after buying an additional 162,043 shares in the last quarter. 74.81% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

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Qifu Technology Stock Down 3.6 %

QFIN stock traded down $1.40 during midday trading on Wednesday, hitting $37.37. 186,918 shares of the company traded hands, compared to its average volume of 1,518,953. The business has a 50 day simple moving average of $41.95 and a 200-day simple moving average of $37.97. The stock has a market capitalization of $5.89 billion, a price-to-earnings ratio of 7.58, a price-to-earnings-growth ratio of 0.32 and a beta of 0.53. Qifu Technology, Inc. has a twelve month low of $17.76 and a twelve month high of $48.94.

Qifu Technology (NASDAQ:QFIN - Get Free Report) last announced its quarterly earnings results on Sunday, March 16th. The company reported $1.82 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $581.67 million. Equities research analysts forecast that Qifu Technology, Inc. will post 5.71 EPS for the current year.

Qifu Technology Increases Dividend

The company also recently declared a semi-annual dividend, which will be paid on Monday, June 2nd. Investors of record on Wednesday, April 23rd will be given 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 dividend payout ratio (DPR) is currently 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.