Ethic Inc. Makes New $292,000 Investment in Qifu Technology, Inc. (NASDAQ:QFIN)

Ethic Inc. purchased a new stake in shares of Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 7,616 shares of the company's stock, valued at approximately $292,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GeoWealth Management LLC acquired a new position in Qifu Technology in the fourth quarter worth $26,000. Jones Financial Companies Lllp bought a new position in shares of Qifu Technology in the fourth quarter valued at about $29,000. Advisors Preferred LLC acquired a new position in Qifu Technology during the 4th quarter worth about $41,000. Global Retirement Partners LLC lifted its position in Qifu Technology by 80.2% during the 4th quarter. Global Retirement Partners LLC now owns 1,164 shares of the company's stock worth $45,000 after buying an additional 518 shares in the last quarter. Finally, BOCHK Asset Management Ltd bought a new stake in Qifu Technology during the 4th quarter worth about $46,000. 74.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Bank of America increased 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.

Qifu Technology Trading Up 1.0%

Shares of Qifu Technology stock traded up $0.45 during trading on Thursday, reaching $42.96. The stock had a trading volume of 180,823 shares, compared to its average volume of 1,568,463. The stock has a fifty day moving average price of $41.75 and a two-hundred day moving average price of $39.49. Qifu Technology, Inc. has a 52 week low of $18.13 and a 52 week high of $48.94. The company has a market capitalization of $6.77 billion, a price-to-earnings ratio of 8.69, a P/E/G ratio of 0.32 and a beta of 0.53.

Qifu Technology (NASDAQ:QFIN - Get Free Report) last released its quarterly earnings data on Monday, May 19th. The company reported $1.74 EPS for the quarter, beating the consensus estimate of $1.72 by $0.02. The company had revenue of $646.19 million during the quarter, compared to the consensus estimate of $4.61 billion. Qifu Technology had a return on equity of 24.39% and a net margin of 31.82%. On average, equities analysts forecast that Qifu Technology, Inc. will post 5.71 EPS for the current fiscal year.

Qifu Technology Increases Dividend

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