Raymond James Financial Inc. Acquires Shares of 7,772 Qifu Technology, Inc. (NASDAQ:QFIN)

Raymond James Financial Inc. purchased a new stake in Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 7,772 shares of the company's stock, valued at approximately $298,000.

Other large investors also recently made changes to their positions in the company. Alliancebernstein L.P. acquired a new stake in shares of Qifu Technology in the 4th quarter valued at about $92,150,000. Arrowstreet Capital Limited Partnership raised its stake in shares of Qifu Technology by 10.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,478,319 shares of the company's stock valued at $56,738,000 after purchasing an additional 134,326 shares during the period. Norges Bank acquired a new stake in shares of Qifu Technology in the 4th quarter valued at about $46,579,000. Russell Investments Group Ltd. raised its stake in shares of Qifu Technology by 14.0% in the 4th quarter. Russell Investments Group Ltd. now owns 956,705 shares of the company's stock valued at $36,286,000 after purchasing an additional 117,256 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Qifu Technology by 12.1% in the 4th 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 period. Institutional investors and hedge funds own 74.81% of the company's stock.

Analysts Set New Price Targets

Separately, Bank of America raised their price objective on Qifu Technology from $50.66 to $52.70 and gave the company a "buy" rating in a report on Wednesday, March 26th.

Qifu Technology Trading Up 1.3%

QFIN stock traded up $0.60 during mid-day trading on Tuesday, hitting $46.05. 1,309,895 shares of the company were exchanged, compared to its average volume of 1,552,033. Qifu Technology, Inc. has a 1-year low of $18.13 and a 1-year high of $48.94. The business has a 50 day simple moving average of $41.25 and a 200-day simple moving average of $39.05. The stock has a market capitalization of $7.26 billion, a PE ratio of 9.32, a price-to-earnings-growth ratio of 0.32 and a beta of 0.53.

Qifu Technology (NASDAQ:QFIN - Get Free Report) last announced its quarterly earnings data on Sunday, March 16th. The company reported $1.82 EPS for the quarter, beating the consensus estimate 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%. Equities research analysts expect 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 $0.70 dividend. This represents a yield of 2.5%. This is an increase from Qifu Technology's previous semi-annual dividend of $0.60. The ex-dividend date is Wednesday, April 23rd. Qifu Technology's dividend payout ratio is presently 23.79%.

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.