24,873 Shares in Qifu Technology, Inc. (NASDAQ:QFIN) Acquired by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. acquired a new stake in shares of Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 24,873 shares of the company's stock, valued at approximately $954,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Alliancebernstein L.P. purchased a new stake in Qifu Technology during the 4th quarter worth approximately $92,150,000. Norges Bank purchased a new position in shares of Qifu Technology in the 4th quarter valued at about $46,579,000. Candriam S.C.A. acquired a new position in shares of Qifu Technology during the 4th quarter worth approximately $27,185,000. NS Partners Ltd purchased a new position in Qifu Technology during the fourth quarter valued at $17,177,000. Finally, National Bank of Canada FI lifted its stake in Qifu Technology by 184.0% in the 4th quarter. National Bank of Canada FI now owns 610,359 shares of the company's stock valued at $23,426,000 after buying an additional 395,449 shares in the last quarter. Institutional investors own 74.81% of the company's stock.

Wall Street Analysts Forecast Growth

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

Qifu Technology Stock Performance

Shares of QFIN stock traded down $1.22 on Wednesday, hitting $37.55. 1,143,691 shares of the stock traded hands, compared to its average volume of 1,804,554. Qifu Technology, Inc. has a twelve month low of $17.83 and a twelve month high of $48.94. The stock has a market capitalization of $5.92 billion, a PE ratio of 7.60, a PEG ratio of 0.32 and a beta of 0.53. The firm's 50-day moving average price is $41.95 and its two-hundred day moving average price is $37.97.

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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 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 company had revenue of $613.89 million during the quarter, compared to analysts' expectations of $581.67 million. On average, equities research analysts anticipate that Qifu Technology, Inc. will post 5.71 EPS for the current fiscal year.

Qifu Technology Increases Dividend

The company also recently announced a semi-annual dividend, which will be paid on Monday, June 2nd. Shareholders of record on Wednesday, April 23rd will be given a $0.70 dividend. 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. This represents a yield of 2.5%. Qifu Technology's payout ratio 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.