Aspex Management HK Ltd Raises Holdings in Qifu Technology, Inc. (NASDAQ:QFIN)

Aspex Management HK Ltd boosted its holdings in shares of Qifu Technology, Inc. (NASDAQ:QFIN) by 11.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,371,808 shares of the company’s stock after buying an additional 648,088 shares during the period. Qifu Technology makes up about 6.6% of Aspex Management HK Ltd’s portfolio, making the stock its 4th largest position. Aspex Management HK Ltd owned approximately 4.04% of Qifu Technology worth $244,550,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. GeoWealth Management LLC acquired a new stake in shares of Qifu Technology in the 4th quarter worth about $26,000. Jones Financial Companies Lllp bought a new position in shares of Qifu Technology in the fourth quarter valued at approximately $29,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Qifu Technology during the third quarter valued at approximately $30,000. Advisors Preferred LLC bought a new stake in Qifu Technology during the fourth quarter worth $41,000. Finally, Global Retirement Partners LLC raised its position in Qifu Technology by 80.2% in the 4th 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 last quarter. 74.81% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Bank of America lifted 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 Stock Performance

NASDAQ:QFIN opened at $43.02 on Friday. Qifu Technology, Inc. has a 52 week low of $18.13 and a 52 week high of $48.94. The firm has a 50-day moving average price of $40.96 and a two-hundred day moving average price of $38.56. The firm has a market cap of $6.78 billion, a price-to-earnings ratio of 8.71, a price-to-earnings-growth ratio of 0.32 and a beta of 0.53.

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

Qifu Technology Increases Dividend

The business also recently disclosed 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 represents a yield of 2.5%. The ex-dividend date 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%.

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.