Aviva PLC Has $3.07 Million Stock Position in Qifu Technology, Inc. (NASDAQ:QFIN)

Aviva PLC raised its stake in Qifu Technology, Inc. (NASDAQ:QFIN) by 2.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 80,000 shares of the company’s stock after buying an additional 1,800 shares during the period. Aviva PLC owned 0.05% of Qifu Technology worth $3,070,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in QFIN. Alliancebernstein L.P. acquired a new stake in Qifu Technology in the fourth quarter valued at approximately $92,150,000. Norges Bank bought a new position in shares of Qifu Technology during the fourth quarter valued at $46,579,000. Candriam S.C.A. bought a new position in shares of Qifu Technology during the fourth quarter valued at $27,185,000. NS Partners Ltd bought a new position in shares of Qifu Technology during the fourth quarter valued at $17,177,000. Finally, National Bank of Canada FI raised its stake in shares of Qifu Technology by 184.0% during the fourth quarter. National Bank of Canada FI now owns 610,359 shares of the company’s stock valued at $23,426,000 after acquiring an additional 395,449 shares during the last quarter. Institutional investors and hedge funds own 74.81% of the company’s stock.

Qifu Technology Stock Performance

QFIN stock opened at $36.79 on Thursday. Qifu Technology, Inc. has a 52-week low of $17.76 and a 52-week high of $48.94. The company has a fifty day moving average price of $42.21 and a 200-day moving average price of $37.70. The company has a market capitalization of $5.80 billion, a P/E ratio of 7.45, a PEG ratio of 0.32 and a beta of 0.53.

Qifu Technology (NASDAQ:QFIN) last announced its 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. The business had revenue of $613.89 million during the quarter, compared to the consensus estimate of $581.67 million. Qifu Technology had a net margin of 31.82% and a return on equity of 24.39%. As a group, sell-side analysts forecast that Qifu Technology, Inc. will post 5.71 earnings per share for the current fiscal 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 boost from Qifu Technology’s previous semi-annual dividend of $0.60. This represents a dividend yield of 2.5%. The ex-dividend date is Wednesday, April 23rd. Qifu Technology’s dividend payout ratio (DPR) is currently 23.79%.

Analyst Ratings Changes

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