Sei Investments Co. Buys 339,234 Shares of Qifu Technology, Inc. (NASDAQ:QFIN)

Sei Investments Co. lifted its stake in shares of Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) by 100.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 675,813 shares of the company's stock after purchasing an additional 339,234 shares during the quarter. Sei Investments Co. owned 0.43% of Qifu Technology worth $25,938,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Jones Financial Companies Lllp bought a new stake in Qifu Technology during the fourth quarter worth $29,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Qifu Technology during the 3rd quarter worth $30,000. Advisors Preferred LLC acquired a new stake in Qifu Technology in the fourth quarter valued at about $41,000. Point72 DIFC Ltd bought a new position in Qifu Technology in the third quarter valued at about $43,000. Finally, Global Retirement Partners LLC raised its stake in Qifu Technology by 80.2% during the fourth quarter. Global Retirement Partners LLC now owns 1,164 shares of the company's stock worth $45,000 after acquiring an additional 518 shares in the last quarter. Institutional investors own 74.81% of the company's stock.

Qifu Technology Stock Down 5.6 %

Shares of NASDAQ:QFIN traded down $2.69 during trading on Friday, hitting $45.43. 1,634,708 shares of the company were exchanged, compared to its average volume of 1,434,724. Qifu Technology, Inc. has a 1-year low of $17.76 and a 1-year high of $48.94. The company has a market capitalization of $7.16 billion, a P/E ratio of 9.20, a price-to-earnings-growth ratio of 0.32 and a beta of 0.59. The business's 50 day moving average is $42.25 and its 200-day moving average is $36.86.

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Qifu Technology (NASDAQ:QFIN - Get Free Report) last issued its 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 return on equity of 24.39% and a net margin of 31.82%. The business had revenue of $613.89 million during the quarter, compared to analysts' expectations of $581.67 million. As a group, sell-side analysts anticipate that Qifu Technology, Inc. will post 5.71 earnings per share for the current year.

Qifu Technology Increases Dividend

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

Analysts Set New Price Targets

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

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.