Ameriprise Financial Inc. Acquires 6,505 Shares of Qifu Technology, Inc. (NASDAQ:QFIN)

Ameriprise Financial Inc. lifted its stake in shares of Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) by 36.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,365 shares of the company's stock after purchasing an additional 6,505 shares during the period. Ameriprise Financial Inc.'s holdings in Qifu Technology were worth $935,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. GeoWealth Management LLC bought a new stake in shares of Qifu Technology in the 4th quarter valued at approximately $26,000. Jones Financial Companies Lllp acquired a new stake in Qifu Technology during the 4th quarter worth $29,000. Advisors Preferred LLC acquired a new stake in shares of Qifu Technology in the 4th quarter valued at about $41,000. Global Retirement Partners LLC grew its holdings in shares of Qifu Technology by 80.2% in the 4th quarter. Global Retirement Partners LLC now owns 1,164 shares of the company's stock valued at $45,000 after acquiring an additional 518 shares in the last quarter. Finally, iA Global Asset Management Inc. bought a new position in shares of Qifu Technology in the 4th quarter valued at about $93,000. Hedge funds and other institutional investors own 74.81% of the company's stock.

Analyst Ratings Changes

QFIN has been the subject of several research reports. 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 research report on Wednesday, March 26th. Wall Street Zen cut shares of Qifu Technology from a "strong-buy" rating to a "buy" rating in a research note on Sunday.

Qifu Technology Stock Up 1.3%

QFIN stock traded up $0.54 during trading on Thursday, reaching $42.97. The stock had a trading volume of 955,291 shares, compared to its average volume of 1,578,797. Qifu Technology, Inc. has a one year low of $18.13 and a one year high of $48.94. The company's 50 day moving average is $40.90 and its two-hundred day moving average is $40.28. The company has a market capitalization of $6.77 billion, a price-to-earnings ratio of 8.70, 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, topping the consensus estimate of $1.72 by $0.02. Qifu Technology had a net margin of 31.82% and a return on equity of 24.39%. The company had revenue of $646.19 million during the quarter, compared to the consensus estimate of $4.61 billion. As a group, research analysts predict that Qifu Technology, Inc. will post 5.71 earnings per share for the current fiscal year.

Qifu Technology Increases Dividend

The firm also recently announced a semi-annual dividend, which was paid on Monday, June 2nd. Investors of record on Wednesday, April 23rd were given a $0.70 dividend. This represents a yield of 2.5%. The ex-dividend date of this dividend was Wednesday, April 23rd. This is a boost from Qifu Technology's previous semi-annual dividend of $0.60. Qifu Technology's dividend payout ratio (DPR) is presently 21.17%.

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.