GF Fund Management CO. LTD. Makes New Investment in Qifu Technology, Inc. (NASDAQ:QFIN)

GF Fund Management CO. LTD. purchased a new position in Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 227,614 shares of the company's stock, valued at approximately $8,736,000. GF Fund Management CO. LTD. owned 0.14% of Qifu Technology as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in QFIN. GeoWealth Management LLC purchased a new stake in Qifu Technology in the fourth quarter worth $26,000. Jones Financial Companies Lllp purchased a new stake in Qifu Technology in the fourth quarter worth $29,000. Advisors Preferred LLC purchased a new stake in Qifu Technology in the fourth quarter worth $41,000. Global Retirement Partners LLC grew its stake in Qifu Technology by 80.2% in the fourth quarter. Global Retirement Partners LLC now owns 1,164 shares of the company's stock worth $45,000 after purchasing an additional 518 shares during the period. Finally, BOCHK Asset Management Ltd purchased a new stake in Qifu Technology in the fourth quarter worth $46,000. 74.81% of the stock is owned by hedge funds and other institutional investors.

Qifu Technology Stock Up 0.1%

Shares of NASDAQ QFIN traded up $0.03 during trading on Tuesday, reaching $42.55. The company had a trading volume of 1,171,494 shares, compared to its average volume of 1,574,431. Qifu Technology, Inc. has a 12-month low of $18.13 and a 12-month high of $48.94. The stock has a market cap of $6.71 billion, a PE ratio of 8.61, a P/E/G ratio of 0.32 and a beta of 0.53. The business's 50-day moving average is $41.41 and its 200 day moving average is $39.81.

Qifu Technology (NASDAQ:QFIN - Get Free Report) last released its earnings results on Monday, May 19th. The company reported $1.74 EPS for the quarter, topping analysts' consensus estimates of $1.72 by $0.02. Qifu Technology had a return on equity of 24.39% and a net margin of 31.82%. The firm had revenue of $646.19 million for the quarter, compared to analysts' expectations of $4.61 billion. On average, analysts anticipate that Qifu Technology, Inc. will post 5.71 earnings per share for the current year.

Qifu Technology Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on QFIN. Wall Street Zen raised Qifu Technology from a "buy" rating to a "strong-buy" rating in a research note on Saturday. Bank of America increased their target price on 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 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.