Sei Investments Co. Acquires 339,234 Shares of Qifu Technology, Inc. (NASDAQ:QFIN)

Sei Investments Co. increased its position in shares of Qifu Technology, Inc. (NASDAQ:QFIN) by 100.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 675,813 shares of the company’s stock after acquiring an additional 339,234 shares during the quarter. Sei Investments Co. owned about 0.43% of Qifu Technology worth $25,938,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Candriam S.C.A. purchased a new stake in Qifu Technology during the 4th quarter worth approximately $27,185,000. NS Partners Ltd acquired a new position in shares of Qifu Technology in the 4th quarter valued at $17,177,000. Point72 Hong Kong Ltd raised its stake in Qifu Technology by 443.0% in the 3rd quarter. Point72 Hong Kong Ltd now owns 535,498 shares of the company’s stock worth $15,963,000 after acquiring an additional 436,882 shares during the last quarter. Artemis Investment Management LLP acquired a new stake in Qifu Technology during the 4th quarter worth about $12,493,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in Qifu Technology during the 3rd quarter valued at about $8,487,000. Institutional investors and hedge funds own 74.81% of the company’s stock.

Qifu Technology Price Performance

NASDAQ QFIN opened at $46.37 on Thursday. The stock’s 50 day simple moving average is $41.89 and its 200-day simple moving average is $36.47. The company has a market cap of $7.31 billion, a PE ratio of 9.39, a price-to-earnings-growth ratio of 0.32 and a beta of 0.59. Qifu Technology, Inc. has a 1-year low of $17.76 and a 1-year high of $48.81.

Qifu Technology (NASDAQ:QFIN) last released its quarterly earnings data on Sunday, March 16th. The company reported $1.82 EPS 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 analysts’ expectations of $581.67 million. Qifu Technology had a return on equity of 24.39% and a net margin of 31.82%. On average, equities research analysts anticipate that Qifu Technology, Inc. will post 5.71 EPS for the current fiscal year.

Qifu Technology Increases Dividend

The business also recently declared a semi-annual dividend, which will be paid on Monday, June 2nd. Stockholders of record on Wednesday, April 23rd will be paid a $0.70 dividend. This represents a dividend yield of 2.5%. This is an increase 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 23.79%.

Wall Street Analyst Weigh In

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 note on Wednesday.

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.