Mercer Global Advisors Inc. ADV Has $258,000 Stock Position in Qifu Technology, Inc. (NASDAQ:QFIN)

Mercer Global Advisors Inc. ADV cut its position in Qifu Technology, Inc. (NASDAQ:QFIN) by 15.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,730 shares of the company’s stock after selling 1,220 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Qifu Technology were worth $258,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. GeoWealth Management LLC bought a new stake in Qifu Technology during the fourth quarter valued at about $26,000. Jones Financial Companies Lllp acquired a new position in shares of Qifu Technology during the 4th quarter worth about $29,000. Advisors Preferred LLC bought a new stake in Qifu Technology during the 4th quarter valued at approximately $41,000. Global Retirement Partners LLC grew its holdings in Qifu Technology by 80.2% in the 4th quarter. Global Retirement Partners LLC now owns 1,164 shares of the company’s stock valued at $45,000 after buying an additional 518 shares during the last quarter. Finally, BOCHK Asset Management Ltd bought a new position in Qifu Technology in the 4th quarter worth approximately $46,000. Institutional investors own 74.81% of the company’s stock.

Qifu Technology Price Performance

NASDAQ QFIN opened at $44.27 on Friday. The company’s fifty day moving average is $41.62 and its two-hundred day moving average is $39.27. Qifu Technology, Inc. has a 52-week low of $18.13 and a 52-week high of $48.94. The firm has a market capitalization of $6.98 billion, a price-to-earnings ratio of 8.96, a P/E/G ratio of 0.32 and a beta of 0.53.

Qifu Technology (NASDAQ:QFIN) last released its earnings results on Sunday, March 16th. The company reported $1.82 earnings per share 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 for the quarter, compared to the consensus estimate of $581.67 million. As a group, sell-side analysts expect that Qifu Technology, Inc. will post 5.71 earnings per share for the current fiscal year.

Qifu Technology Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Monday, June 2nd. Stockholders of record on Wednesday, April 23rd will be issued a dividend of $0.70 per share. This represents a dividend yield of 2.5%. The ex-dividend date is Wednesday, April 23rd. This is a positive change from Qifu Technology’s previous semi-annual dividend of $0.60. Qifu Technology’s dividend payout ratio (DPR) is presently 23.79%.

Analysts Set New Price Targets

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

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.