Qifu Technology, Inc. (NASDAQ:QFIN) Shares Acquired by Franklin Resources Inc.

Franklin Resources Inc. increased its stake in shares of Qifu Technology, Inc. (NASDAQ:QFIN) by 9.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 67,726 shares of the company’s stock after purchasing an additional 6,110 shares during the period. Franklin Resources Inc.’s holdings in Qifu Technology were worth $2,599,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Geode Capital Management LLC boosted its stake in Qifu Technology by 3.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,309,635 shares of the company’s stock worth $38,866,000 after purchasing an additional 41,139 shares during the last quarter. Asset Management One Co. Ltd. grew its stake in Qifu Technology by 66.8% during the 4th quarter. Asset Management One Co. Ltd. now owns 32,873 shares of the company’s stock valued at $1,255,000 after acquiring an additional 13,170 shares in the last quarter. Sanctuary Advisors LLC purchased a new stake in Qifu Technology during the 3rd quarter valued at about $1,061,000. KBC Group NV raised its holdings in Qifu Technology by 279.6% in the 4th quarter. KBC Group NV now owns 35,381 shares of the company’s stock valued at $1,358,000 after acquiring an additional 26,061 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in Qifu Technology by 4,272.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 7,302 shares of the company’s stock worth $280,000 after purchasing an additional 7,135 shares in the last quarter. 74.81% of the stock is owned by hedge funds and other institutional investors.

Qifu Technology Stock Down 1.0 %

Shares of NASDAQ:QFIN opened at $36.37 on Friday. Qifu Technology, Inc. has a fifty-two week low of $17.76 and a fifty-two week high of $48.94. The stock has a market cap of $5.73 billion, a price-to-earnings ratio of 7.36, a price-to-earnings-growth ratio of 0.32 and a beta of 0.53. The firm’s 50 day moving average price is $42.05 and its 200 day moving average price is $37.83.

Qifu Technology (NASDAQ:QFIN) last released 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. The business had revenue of $613.89 million during the quarter, compared to analysts’ expectations of $581.67 million. Qifu Technology had a net margin of 31.82% and a return on equity of 24.39%. On average, equities analysts anticipate that Qifu Technology, Inc. will post 5.71 EPS for the current year.

Qifu Technology Increases Dividend

The firm 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 $0.70 dividend. The ex-dividend date of this dividend is Wednesday, April 23rd. This represents a dividend yield of 2.5%. This is an increase from Qifu Technology’s previous semi-annual dividend of $0.60. Qifu Technology’s dividend payout ratio is presently 23.79%.

Wall Street Analysts Forecast Growth

Separately, Bank of America boosted their price target 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.

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.