APG Asset Management N.V. Boosts Holdings in Qifu Technology, Inc. (NASDAQ:QFIN)

APG Asset Management N.V. grew its holdings in shares of Qifu Technology, Inc. (NASDAQ:QFIN) by 52.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,200 shares of the company’s stock after acquiring an additional 5,900 shares during the quarter. APG Asset Management N.V.’s holdings in Qifu Technology were worth $638,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Wrapmanager Inc. raised its position in Qifu Technology by 4.1% in the 4th quarter. Wrapmanager Inc. now owns 7,554 shares of the company’s stock worth $290,000 after purchasing an additional 296 shares during the period. Global Retirement Partners LLC increased its stake in shares of Qifu Technology by 80.2% during 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 during the period. DGS Capital Management LLC raised its holdings in Qifu Technology by 5.9% in the 4th quarter. DGS Capital Management LLC now owns 11,413 shares of the company’s stock worth $438,000 after purchasing an additional 631 shares in the last quarter. Jones Financial Companies Lllp purchased a new stake in Qifu Technology in the fourth quarter worth about $29,000. Finally, Lester Murray Antman dba SimplyRich boosted its position in shares of Qifu Technology by 5.7% during the fourth quarter. Lester Murray Antman dba SimplyRich now owns 14,288 shares of the company’s stock valued at $548,000 after purchasing an additional 768 shares in the last quarter. Hedge funds and other institutional investors own 74.81% of the company’s stock.

Qifu Technology Stock Down 1.0 %

Shares of NASDAQ QFIN opened at $36.37 on Friday. The firm has a market cap of $5.73 billion, a P/E ratio of 7.36, a PEG ratio of 0.32 and a beta of 0.53. Qifu Technology, Inc. has a twelve month low of $17.76 and a twelve month high of $48.94. The company has a 50 day moving average of $42.05 and a 200 day moving average of $37.83.

Qifu Technology (NASDAQ:QFIN) last announced its quarterly earnings results 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. Qifu Technology had a net margin of 31.82% and a return on equity of 24.39%. The firm had revenue of $613.89 million for the quarter, compared to the consensus estimate of $581.67 million. As a group, equities analysts expect that Qifu Technology, Inc. will post 5.71 earnings per share for the current fiscal year.

Qifu Technology Increases Dividend

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

Analysts Set New Price Targets

Separately, Bank of America upped 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, March 26th.

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.