Man Group plc Boosts Holdings in Qifu Technology, Inc. (NASDAQ:QFIN)

Man Group plc increased its stake in shares of Qifu Technology, Inc. (NASDAQ:QFIN) by 10.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,529,897 shares of the company’s stock after buying an additional 144,328 shares during the period. Man Group plc owned about 0.97% of Qifu Technology worth $58,717,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Wrapmanager Inc. boosted its position in Qifu Technology by 4.1% during the fourth quarter. Wrapmanager Inc. now owns 7,554 shares of the company’s stock worth $290,000 after purchasing an additional 296 shares during the period. Global Retirement Partners LLC boosted its position in Qifu Technology by 80.2% during the fourth 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 period. DGS Capital Management LLC boosted its position in Qifu Technology by 5.9% during the fourth quarter. DGS Capital Management LLC now owns 11,413 shares of the company’s stock worth $438,000 after purchasing an additional 631 shares during the period. GeoWealth Management LLC bought a new position in Qifu Technology during the fourth quarter worth about $26,000. Finally, Jones Financial Companies Lllp purchased a new position in Qifu Technology in the 4th quarter valued at approximately $29,000. Hedge funds and other institutional investors own 74.81% of the company’s stock.

Qifu Technology Trading Down 2.1%

Shares of Qifu Technology stock opened at $45.08 on Thursday. Qifu Technology, Inc. has a 12-month low of $18.13 and a 12-month high of $48.94. The company has a market cap of $7.11 billion, a price-to-earnings ratio of 9.13, a PEG ratio of 0.32 and a beta of 0.53. The company’s 50-day moving average price is $41.35 and its 200-day moving average price is $39.10.

Qifu Technology (NASDAQ:QFIN) last announced its quarterly earnings results 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 firm had revenue of $613.89 million during the quarter, compared to the consensus estimate of $581.67 million. On average, sell-side analysts predict 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. Investors of record on Wednesday, April 23rd will be given a $0.70 dividend. This represents a dividend yield of 2.5%. This is a boost from Qifu Technology’s previous semi-annual dividend of $0.60. The ex-dividend date is Wednesday, April 23rd. Qifu Technology’s dividend payout ratio is 23.79%.

Wall Street Analysts Forecast Growth

Separately, Bank of America lifted their price objective 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 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.