7,772 Shares in Qifu Technology, Inc. (NASDAQ:QFIN) Bought by Raymond James Financial Inc.

Raymond James Financial Inc. bought a new position in Qifu Technology, Inc. (NASDAQ:QFIN) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 7,772 shares of the company’s stock, valued at approximately $298,000.

Several other hedge funds also recently bought and sold shares of the company. Alliancebernstein L.P. bought a new position in Qifu Technology in the 4th quarter worth $92,150,000. Arrowstreet Capital Limited Partnership boosted its holdings in Qifu Technology by 10.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,478,319 shares of the company’s stock worth $56,738,000 after buying an additional 134,326 shares during the period. Norges Bank bought a new position in Qifu Technology in the 4th quarter worth $46,579,000. Russell Investments Group Ltd. boosted its holdings in Qifu Technology by 14.0% in the 4th quarter. Russell Investments Group Ltd. now owns 956,705 shares of the company’s stock worth $36,286,000 after buying an additional 117,256 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Qifu Technology by 12.1% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 919,967 shares of the company’s stock worth $35,308,000 after buying an additional 99,624 shares during the period. Institutional investors own 74.81% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Bank of America upped their target price 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 Stock Down 1.0%

QFIN opened at $42.56 on Monday. The firm has a 50-day simple moving average of $41.21 and a two-hundred day simple moving average of $38.98. Qifu Technology, Inc. has a 52 week low of $18.13 and a 52 week high of $48.94. The company has a market capitalization of $6.71 billion, a PE ratio of 8.62, a price-to-earnings-growth ratio of 0.32 and a beta of 0.53.

Qifu Technology (NASDAQ:QFIN) last released its quarterly earnings data on Sunday, March 16th. The company reported $1.82 EPS for the quarter, beating the consensus estimate of $1.68 by $0.14. Qifu Technology had a net margin of 31.82% and a return on equity of 24.39%. The business had revenue of $613.89 million during 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 year.

Qifu Technology Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Monday, June 2nd. Shareholders 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 an increase from Qifu Technology’s previous semi-annual dividend of $0.60. Qifu Technology’s dividend payout ratio is 23.79%.

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.