Qifu Technology, Inc. (NASDAQ:QFIN) Shares Acquired by Sei Investments Co.

Sei Investments Co. increased its position in shares of Qifu Technology, Inc. (NASDAQ:QFIN) by 100.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 675,813 shares of the company’s stock after acquiring an additional 339,234 shares during the quarter. Sei Investments Co.’s holdings in Qifu Technology were worth $25,938,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Jones Financial Companies Lllp purchased a new stake in Qifu Technology during the 4th quarter worth about $29,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Qifu Technology during the 3rd quarter worth about $30,000. Advisors Preferred LLC acquired a new stake in shares of Qifu Technology during the 4th quarter worth about $41,000. Point72 DIFC Ltd purchased a new stake in Qifu Technology during the third quarter worth approximately $43,000. Finally, Global Retirement Partners LLC boosted 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 purchasing an additional 518 shares in the last quarter. Institutional investors and hedge funds own 74.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Bank of America raised their price objective on shares of Qifu Technology from $50.66 to $52.70 and gave the stock a “buy” rating in a report on Wednesday.

Qifu Technology Stock Performance

Shares of QFIN stock opened at $46.37 on Thursday. The stock’s 50-day moving average is $41.89 and its two-hundred day moving average is $36.47. Qifu Technology, Inc. has a 1 year low of $17.76 and a 1 year high of $48.81. The firm has a market cap of $7.31 billion, a price-to-earnings ratio of 9.39, a PEG ratio of 0.32 and a beta of 0.59.

Qifu Technology (NASDAQ:QFIN) last released its quarterly earnings results on Sunday, March 16th. The company reported $1.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.68 by $0.14. The firm had revenue of $613.89 million for the quarter, compared to the consensus estimate of $581.67 million. Qifu Technology had a return on equity of 24.39% and a net margin of 31.82%. As a group, research analysts predict that Qifu Technology, Inc. will post 5.71 EPS for the current year.

Qifu Technology Increases Dividend

The firm also recently announced 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. 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 payout ratio is presently 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.