AQR Capital Management LLC Increases Stock Position in Qifu Technology, Inc. (NASDAQ:QFIN)

AQR Capital Management LLC boosted its position in Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) by 11.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,432,131 shares of the company's stock after buying an additional 258,586 shares during the quarter. AQR Capital Management LLC owned approximately 1.54% of Qifu Technology worth $93,345,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Alliancebernstein L.P. bought a new position in shares of Qifu Technology during the 4th quarter worth $92,150,000. Arrowstreet Capital Limited Partnership boosted its position in Qifu Technology by 10.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,478,319 shares of the company's stock worth $56,738,000 after purchasing an additional 134,326 shares during the period. Causeway Capital Management LLC increased its stake in shares of Qifu Technology by 0.3% in the fourth quarter. Causeway Capital Management LLC now owns 1,377,475 shares of the company's stock worth $52,867,000 after purchasing an additional 4,137 shares in the last quarter. Marshall Wace LLP raised its position in shares of Qifu Technology by 67.5% in the fourth quarter. Marshall Wace LLP now owns 1,351,277 shares of the company's stock valued at $51,862,000 after purchasing an additional 544,666 shares during the period. Finally, Norges Bank bought a new stake in shares of Qifu Technology in the fourth quarter valued at approximately $46,579,000. 74.81% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Bank of America raised their price objective 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.

Qifu Technology Stock Up 6.6 %

Shares of NASDAQ:QFIN traded up $2.65 during midday trading on Friday, reaching $43.02. 1,165,111 shares of the company traded hands, compared to its average volume of 1,549,421. The firm's fifty day moving average price is $40.96 and its two-hundred day moving average price is $38.56. The firm has a market capitalization of $6.78 billion, a price-to-earnings ratio of 8.71, a price-to-earnings-growth ratio of 0.32 and a beta of 0.53. Qifu Technology, Inc. has a 12 month low of $18.13 and a 12 month high of $48.94.

Qifu Technology (NASDAQ:QFIN - Get Free Report) last announced its quarterly earnings results on Sunday, March 16th. The company reported $1.82 earnings per share for the quarter, beating 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 return on equity of 24.39% and a net margin of 31.82%. Analysts forecast that Qifu Technology, Inc. will post 5.71 earnings per share for the current year.

Qifu Technology Increases Dividend

The company also recently declared a semi-annual dividend, which will be paid on Monday, June 2nd. Stockholders of record on Wednesday, April 23rd will be issued a $0.70 dividend. The ex-dividend date of this dividend is Wednesday, April 23rd. This represents a dividend yield of 2.5%. This is a boost from Qifu Technology's previous semi-annual dividend of $0.60. Qifu Technology's dividend payout ratio is presently 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.