10,894 Shares in Qifu Technology, Inc. (NASDAQ:QFIN) Purchased by Abacus FCF Advisors LLC

Abacus FCF Advisors LLC bought a new position in shares of Qifu Technology, Inc. (NASDAQ:QFIN) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 10,894 shares of the company’s stock, valued at approximately $418,000.

Several other large investors have also recently modified their holdings of QFIN. Wrapmanager Inc. lifted its stake in shares of Qifu Technology by 4.1% during the 4th quarter. Wrapmanager Inc. now owns 7,554 shares of the company’s stock valued at $290,000 after buying an additional 296 shares in the last quarter. Global Retirement Partners LLC lifted its position 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 worth $45,000 after acquiring an additional 518 shares in the last quarter. DGS Capital Management LLC boosted its holdings in shares of Qifu Technology by 5.9% in the fourth quarter. DGS Capital Management LLC now owns 11,413 shares of the company’s stock worth $438,000 after acquiring an additional 631 shares during the period. Jones Financial Companies Lllp bought a new stake in shares of Qifu Technology during the 4th quarter valued at $29,000. Finally, Lester Murray Antman dba SimplyRich lifted its holdings in Qifu Technology by 5.7% during the 4th quarter. Lester Murray Antman dba SimplyRich now owns 14,288 shares of the company’s stock worth $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.

Wall Street Analyst Weigh In

Separately, Bank of America raised their target price on Qifu Technology from $50.66 to $52.70 and gave the stock a “buy” rating in a research note on Wednesday, March 26th.

Qifu Technology Price Performance

NASDAQ QFIN opened at $35.86 on Wednesday. The company’s 50 day simple moving average is $42.38 and its two-hundred day simple moving average is $37.63. Qifu Technology, Inc. has a 1 year low of $17.76 and a 1 year high of $48.94. The stock has a market capitalization of $5.65 billion, a PE ratio of 7.26, a P/E/G ratio of 0.32 and a beta of 0.53.

Qifu Technology (NASDAQ:QFIN) last released its quarterly earnings results on Sunday, March 16th. The company reported $1.82 earnings per share for the quarter, topping the consensus estimate 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 net margin of 31.82% and a return on equity of 24.39%. On average, research analysts anticipate that Qifu Technology, Inc. will post 5.71 EPS for the current year.

Qifu Technology Increases Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Monday, June 2nd. Stockholders of record on Wednesday, April 23rd will be issued a dividend of $0.70 per share. This is a positive change from Qifu Technology’s previous semi-annual dividend of $0.60. The ex-dividend date is Wednesday, April 23rd. This represents a dividend yield of 2.5%. Qifu Technology’s payout ratio is presently 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.