Russell Investments Group Ltd. Purchases 117,256 Shares of Qifu Technology, Inc. (NASDAQ:QFIN)

Russell Investments Group Ltd. grew its holdings in shares of Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) by 14.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 956,705 shares of the company's stock after purchasing an additional 117,256 shares during the period. Russell Investments Group Ltd. owned 0.61% of Qifu Technology worth $36,286,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Alliancebernstein L.P. acquired a new stake in shares of Qifu Technology in the 4th quarter worth about $92,150,000. State Street Corp lifted its position in shares of Qifu Technology by 5.8% during the 3rd quarter. State Street Corp now owns 2,324,831 shares of the company's stock valued at $70,637,000 after acquiring an additional 128,381 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of Qifu Technology by 10.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,478,319 shares of the company's stock valued at $56,738,000 after purchasing an additional 134,326 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Qifu Technology by 3.2% in the third quarter. Geode Capital Management LLC now owns 1,309,635 shares of the company's stock worth $38,866,000 after buying an additional 41,139 shares during the period. Finally, Norges Bank acquired a new position in Qifu Technology in the 4th quarter worth approximately $46,579,000. Institutional investors and hedge funds own 74.81% of the company's stock.

Analysts Set New Price Targets

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

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Qifu Technology Stock Down 1.0 %

QFIN stock traded down $0.36 during trading hours on Friday, hitting $36.37. The company's stock had a trading volume of 3,872,213 shares, compared to its average volume of 1,504,168. The company has a market capitalization of $5.73 billion, a PE ratio of 7.36, a price-to-earnings-growth ratio of 0.32 and a beta of 0.53. Qifu Technology, Inc. has a 12 month low of $17.76 and a 12 month high of $48.94. The stock has a 50 day moving average price of $42.05 and a two-hundred day moving average price of $37.90.

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. The company had revenue of $613.89 million for the quarter, compared to the consensus estimate of $581.67 million. Qifu Technology had a return on equity of 24.39% and a net margin of 31.82%. Sell-side analysts expect that Qifu Technology, Inc. will post 5.71 earnings per share for the current year.

Qifu Technology Increases Dividend

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

Qifu Technology 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.