Resona Asset Management Co. Ltd. Purchases Shares of 24,873 Qifu Technology, Inc. (NASDAQ:QFIN)

Resona Asset Management Co. Ltd. acquired a new position in shares of Qifu Technology, Inc. (NASDAQ:QFIN) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 24,873 shares of the company’s stock, valued at approximately $954,000.

Other large investors have also modified their holdings of the company. Alliancebernstein L.P. purchased a new position in Qifu Technology during the 4th quarter worth approximately $92,150,000. State Street Corp boosted its holdings in shares of Qifu Technology by 5.8% in the third quarter. State Street Corp now owns 2,324,831 shares of the company’s stock valued at $70,637,000 after acquiring an additional 128,381 shares during the period. Arrowstreet Capital Limited Partnership grew its position in shares of Qifu Technology by 10.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,478,319 shares of the company’s stock worth $56,738,000 after acquiring an additional 134,326 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Qifu Technology by 3.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,309,635 shares of the company’s stock valued at $38,866,000 after acquiring an additional 41,139 shares during the period. Finally, Norges Bank purchased a new stake in Qifu Technology in the 4th quarter valued at $46,579,000. Institutional investors and hedge funds own 74.81% of the company’s stock.

Qifu Technology Trading Down 0.2 %

Qifu Technology stock opened at $36.73 on Friday. The stock has a market capitalization of $5.79 billion, a price-to-earnings ratio of 7.44, a PEG ratio of 0.32 and a beta of 0.53. The stock has a 50 day moving average of $42.14 and a two-hundred day moving average of $37.77. Qifu Technology, Inc. has a twelve month low of $17.76 and a twelve month high of $48.94.

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

Qifu Technology Increases Dividend

The company also recently declared a semi-annual dividend, which will be paid on Monday, June 2nd. Investors of record on Wednesday, April 23rd will be issued a dividend of $0.70 per share. This is a boost from Qifu Technology’s previous semi-annual dividend of $0.60. This represents a yield of 2.5%. The ex-dividend date is Wednesday, April 23rd. Qifu Technology’s dividend payout ratio is currently 23.79%.

Analyst Ratings Changes

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 research report on Wednesday, March 26th.

About Qifu Technology

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.