Mitsubishi UFJ Trust & Banking Corp Increases Position in Qifu Technology, Inc. (NASDAQ:QFIN)

Mitsubishi UFJ Trust & Banking Corp grew its holdings in Qifu Technology, Inc. (NASDAQ:QFIN) by 13.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 243,125 shares of the company’s stock after purchasing an additional 29,618 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned about 0.15% of Qifu Technology worth $9,331,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Jones Financial Companies Lllp purchased a new position in Qifu Technology during the fourth quarter worth approximately $29,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Qifu Technology in the 3rd quarter worth $30,000. Advisors Preferred LLC purchased a new position in shares of Qifu Technology during the 4th quarter worth $41,000. Point72 DIFC Ltd acquired a new position in shares of Qifu Technology during the 3rd quarter valued at about $43,000. Finally, Global Retirement Partners LLC boosted its position in shares of Qifu Technology by 80.2% during the 4th quarter. Global Retirement Partners LLC now owns 1,164 shares of the company’s stock valued at $45,000 after acquiring an additional 518 shares during the last quarter. 74.81% of the stock is currently owned by institutional investors and hedge funds.

Qifu Technology Stock Down 5.6 %

NASDAQ:QFIN opened at $45.43 on Friday. Qifu Technology, Inc. has a 52 week low of $17.76 and a 52 week high of $48.94. The stock’s fifty day moving average is $42.25 and its two-hundred day moving average is $36.78. The company has a market capitalization of $7.16 billion, a P/E ratio of 9.20, a P/E/G ratio of 0.32 and a beta of 0.59.

Qifu Technology (NASDAQ:QFIN) last posted its earnings results on Sunday, March 16th. The company reported $1.82 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.14. Qifu Technology had a net margin of 31.82% and a return on equity of 24.39%. The company had revenue of $613.89 million for the quarter, compared to analysts’ expectations of $581.67 million. Sell-side analysts anticipate that Qifu Technology, Inc. will post 5.71 earnings per share for the current fiscal year.

Qifu Technology Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Monday, June 2nd. Investors of record on Wednesday, April 23rd will be issued a $0.70 dividend. This represents a yield of 2.5%. The ex-dividend date of this dividend 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 (DPR) is 23.79%.

Analyst Ratings Changes

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

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.