KLP Kapitalforvaltning AS Makes New $1.11 Million Investment in Qifu Technology, Inc. (NASDAQ:QFIN)

KLP Kapitalforvaltning AS purchased a new stake in Qifu Technology, Inc. (NASDAQ:QFIN) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 28,800 shares of the company’s stock, valued at approximately $1,105,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Jones Financial Companies Lllp acquired a new stake in Qifu Technology in the fourth quarter valued at $29,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Qifu Technology in the 3rd quarter valued at about $30,000. Advisors Preferred LLC acquired a new stake in shares of Qifu Technology during the 4th quarter worth about $41,000. Point72 DIFC Ltd purchased a new stake in Qifu Technology during the third quarter worth approximately $43,000. Finally, Global Retirement Partners LLC boosted its holdings in Qifu Technology by 80.2% in the fourth quarter. Global Retirement Partners LLC now owns 1,164 shares of the company’s stock valued at $45,000 after purchasing an additional 518 shares in the last quarter. Hedge funds and other institutional investors own 74.81% of the company’s stock.

Wall Street Analyst Weigh In

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

Qifu Technology Price Performance

NASDAQ QFIN opened at $45.43 on Monday. The company has a fifty day moving average of $42.25 and a two-hundred day moving average of $36.86. The company has a market capitalization of $7.16 billion, a PE ratio of 9.20, a P/E/G ratio of 0.32 and a beta of 0.59. Qifu Technology, Inc. has a 1 year low of $17.76 and a 1 year high of $48.94.

Qifu Technology (NASDAQ:QFIN) last announced its earnings results on Sunday, March 16th. The company reported $1.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.68 by $0.14. The firm had revenue of $613.89 million during the quarter, compared to analysts’ expectations of $581.67 million. Qifu Technology had a return on equity of 24.39% and a net margin of 31.82%. On average, research 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 announced a semi-annual dividend, which will be paid on Monday, June 2nd. Stockholders of record on Wednesday, April 23rd will be given a dividend of $0.70 per share. The ex-dividend date is Wednesday, April 23rd. This is a positive change from Qifu Technology’s previous semi-annual dividend of $0.60. This represents a dividend yield of 2.5%. Qifu Technology’s dividend payout ratio (DPR) is 23.79%.

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.