Raymond James Financial Inc. Makes New Investment in Qifu Technology, Inc. (NASDAQ:QFIN)

Raymond James Financial Inc. bought a new position in shares of Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 7,772 shares of the company's stock, valued at approximately $298,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. APG Asset Management N.V. raised its holdings in Qifu Technology by 52.2% during the fourth quarter. APG Asset Management N.V. now owns 17,200 shares of the company's stock worth $638,000 after buying an additional 5,900 shares during the last quarter. Abacus FCF Advisors LLC bought a new position in Qifu Technology during the fourth quarter worth about $418,000. Polymer Capital Management HK LTD boosted its position in Qifu Technology by 167.7% during the fourth quarter. Polymer Capital Management HK LTD now owns 386,863 shares of the company's stock worth $14,848,000 after purchasing an additional 242,352 shares during the period. Russell Investments Group Ltd. raised its stake in Qifu Technology by 14.0% in the fourth 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 in the last quarter. Finally, Aviva PLC raised its stake in Qifu Technology by 2.3% in the fourth quarter. Aviva PLC now owns 80,000 shares of the company's stock valued at $3,070,000 after purchasing an additional 1,800 shares in the last quarter. 74.81% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Bank of America lifted their price target on shares of 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 Stock Performance

Shares of NASDAQ QFIN traded up $0.25 during mid-day trading on Friday, hitting $44.46. The stock had a trading volume of 540,012 shares, compared to its average volume of 1,557,163. Qifu Technology, Inc. has a 1 year low of $18.13 and a 1 year high of $48.94. The firm has a market cap of $7.01 billion, a P/E ratio of 9.01, a price-to-earnings-growth ratio of 0.32 and a beta of 0.53. The business has a 50 day moving average price of $41.55 and a two-hundred day moving average price of $39.20.

Qifu Technology (NASDAQ:QFIN - Get Free Report) last released its quarterly earnings data on Sunday, March 16th. The company reported $1.82 earnings per share for the quarter, beating analysts' consensus estimates of $1.68 by $0.14. The business had revenue of $613.89 million during the quarter, compared to analyst estimates of $581.67 million. Qifu Technology had a net margin of 31.82% and a return on equity of 24.39%. Equities research analysts predict that Qifu Technology, Inc. will post 5.71 EPS for the current fiscal year.

Qifu Technology Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Monday, June 2nd. Shareholders of record on Wednesday, April 23rd will be paid a dividend of $0.70 per share. This is a positive change from Qifu Technology's previous semi-annual dividend of $0.60. This represents a yield of 2.5%. The ex-dividend date is Wednesday, April 23rd. Qifu Technology's dividend payout ratio (DPR) is currently 23.79%.

Qifu Technology Company 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.