Schroder Investment Management Group Invests $7.16 Million in Qifu Technology, Inc. (NASDAQ:QFIN)

Schroder Investment Management Group purchased a new stake in Qifu Technology, Inc. (NASDAQ:QFIN) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 189,923 shares of the company’s stock, valued at approximately $7,164,000. Schroder Investment Management Group owned approximately 0.12% of Qifu Technology as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in QFIN. State Street Corp lifted 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 purchasing an additional 128,381 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in Qifu Technology by 10.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,478,319 shares of the company’s stock valued at $56,738,000 after acquiring an additional 134,326 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Qifu Technology by 3.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,309,635 shares of the company’s stock worth $38,866,000 after acquiring an additional 41,139 shares during the last quarter. Norges Bank bought a new stake in shares of Qifu Technology in the 4th quarter worth $46,579,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Qifu Technology by 12.1% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 919,967 shares of the company’s stock valued at $35,308,000 after purchasing an additional 99,624 shares during the last quarter. Institutional investors and hedge funds own 74.81% of the company’s stock.

Qifu Technology Trading Down 12.0 %

Shares of Qifu Technology stock opened at $38.25 on Friday. The business’s fifty day simple moving average is $42.69 and its 200 day simple moving average is $37.33. Qifu Technology, Inc. has a 12 month low of $17.76 and a 12 month high of $48.94. The firm has a market capitalization of $6.03 billion, a P/E ratio of 7.74, 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 earnings per share for the quarter, topping 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 company had revenue of $613.89 million for the quarter, compared to the consensus estimate of $581.67 million. Analysts predict 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 dividend of $0.70 per share. The ex-dividend date is Wednesday, April 23rd. This represents a dividend yield of 2.5%. This is a positive change from Qifu Technology’s previous semi-annual dividend of $0.60. Qifu Technology’s dividend payout ratio (DPR) is presently 23.79%.

Analyst Ratings Changes

Separately, Bank of America boosted their price target 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.

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.