Quantinno Capital Management LP Boosts Stock Holdings in Qifu Technology, Inc. (NASDAQ:QFIN)

Quantinno Capital Management LP increased its position in shares of Qifu Technology, Inc. (NASDAQ:QFIN) by 8.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,848 shares of the company’s stock after purchasing an additional 1,392 shares during the period. Quantinno Capital Management LP’s holdings in Qifu Technology were worth $685,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. GeoWealth Management LLC purchased a new position in Qifu Technology during the fourth quarter worth about $26,000. Jones Financial Companies Lllp purchased a new position in Qifu Technology in the fourth quarter valued at about $29,000. Advisors Preferred LLC purchased a new position in Qifu Technology in the fourth quarter valued at about $41,000. Global Retirement Partners LLC increased 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 buying an additional 518 shares in the last quarter. Finally, BOCHK Asset Management Ltd purchased a new position in Qifu Technology in the fourth quarter valued at about $46,000. 74.81% of the stock is owned by hedge funds and other institutional investors.

Qifu Technology Trading Down 1.0%

Shares of Qifu Technology stock opened at $42.52 on Friday. Qifu Technology, Inc. has a 12-month low of $18.13 and a 12-month high of $48.94. The stock has a market cap of $6.70 billion, a PE ratio of 8.61, a price-to-earnings-growth ratio of 0.32 and a beta of 0.53. The company has a 50-day moving average of $41.58 and a two-hundred day moving average of $39.62.

Qifu Technology (NASDAQ:QFIN) last issued its quarterly earnings data on Monday, May 19th. The company reported $1.74 earnings per share for the quarter, topping analysts’ consensus estimates of $1.72 by $0.02. Qifu Technology had a net margin of 31.82% and a return on equity of 24.39%. The business had revenue of $646.19 million during the quarter, compared to analysts’ expectations of $4.61 billion. On average, sell-side analysts forecast that Qifu Technology, Inc. will post 5.71 EPS for the current fiscal 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 paid a dividend of $0.70 per share. 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 of this dividend is Wednesday, April 23rd. Qifu Technology’s dividend payout ratio (DPR) is 23.79%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on QFIN. Wall Street Zen raised shares of Qifu Technology from a “buy” rating to a “strong-buy” rating in a report on Saturday. Bank of America increased their target price on shares of Qifu Technology from $50.66 to $52.70 and gave the company a “buy” rating in a report 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.