Krane Funds Advisors LLC Has $216.90 Million Stake in Qifu Technology, Inc. (NASDAQ:QFIN)

Krane Funds Advisors LLC trimmed its holdings in Qifu Technology, Inc. (NASDAQ:QFIN) by 4.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,651,303 shares of the company’s stock after selling 246,098 shares during the period. Qifu Technology comprises about 8.9% of Krane Funds Advisors LLC’s holdings, making the stock its 7th largest position. Krane Funds Advisors LLC owned approximately 3.59% of Qifu Technology worth $216,897,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Jones Financial Companies Lllp bought a new stake in Qifu Technology in the 4th quarter worth about $29,000. Wilmington Savings Fund Society FSB bought a new position in shares of Qifu Technology in the third quarter valued at approximately $30,000. Advisors Preferred LLC purchased a new stake in shares of Qifu Technology during the fourth quarter valued at approximately $41,000. Point72 DIFC Ltd purchased a new stake in shares of Qifu Technology during the third quarter valued at approximately $43,000. Finally, Global Retirement Partners LLC lifted its holdings 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 acquiring an additional 518 shares during the period. 74.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Bank of America upped their price objective on 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 Price Performance

NASDAQ:QFIN opened at $38.25 on Monday. Qifu Technology, Inc. has a 1 year low of $17.76 and a 1 year high of $48.94. The business has a fifty day simple moving average of $42.69 and a two-hundred day simple moving average of $37.51. The company has a market capitalization of $6.03 billion, a P/E ratio of 7.74, a P/E/G ratio of 0.32 and a beta of 0.53.

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

Qifu Technology Increases Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Monday, June 2nd. Investors of record on Wednesday, April 23rd will be paid a $0.70 dividend. This represents a yield of 2.5%. This is a positive change 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 payout ratio is currently 23.79%.

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.