Seldon Capital LP Buys Shares of 120,880 Qifu Technology, Inc. (NASDAQ:QFIN)

Seldon Capital LP bought a new position in Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 120,880 shares of the company's stock, valued at approximately $4,639,000. Qifu Technology accounts for about 1.9% of Seldon Capital LP's investment portfolio, making the stock its 17th largest holding. Seldon Capital LP owned approximately 0.08% of Qifu Technology as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GeoWealth Management LLC acquired a new stake in shares of Qifu Technology in the fourth quarter valued at $26,000. Jones Financial Companies Lllp bought a new stake in Qifu Technology in the fourth quarter worth about $29,000. Wilmington Savings Fund Society FSB acquired a new stake in Qifu Technology in the 3rd quarter valued at about $30,000. Advisors Preferred LLC bought a new position in shares of Qifu Technology during the 4th quarter valued at about $41,000. Finally, Global Retirement Partners LLC grew its stake in shares of Qifu Technology by 80.2% in the 4th quarter. Global Retirement Partners LLC now owns 1,164 shares of the company's stock worth $45,000 after purchasing an additional 518 shares during the last quarter. 74.81% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Qifu Technology Trading Down 0.8 %

Shares of NASDAQ QFIN traded down $0.32 during mid-day trading on Friday, reaching $40.80. The company had a trading volume of 1,046,994 shares, compared to its average volume of 1,548,043. The company has a 50-day moving average price of $41.12 and a two-hundred day moving average price of $38.19. The stock has a market cap of $6.43 billion, a PE ratio of 8.27, a P/E/G ratio of 0.32 and a beta of 0.53. Qifu Technology, Inc. has a 1-year low of $18.13 and a 1-year high of $48.94.

Qifu Technology (NASDAQ:QFIN - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $613.89 million for the quarter, compared to the consensus estimate of $581.67 million. On average, research analysts expect that Qifu Technology, Inc. will post 5.71 EPS 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. Stockholders of record on Wednesday, April 23rd will be issued a $0.70 dividend. The ex-dividend date of this dividend is Wednesday, April 23rd. This represents a dividend yield of 2.5%. This is a positive change from Qifu Technology's previous semi-annual dividend of $0.60. Qifu Technology's dividend 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.