Mackenzie Financial Corp Raises Holdings in Qifu Technology, Inc. (NASDAQ:QFIN)

Mackenzie Financial Corp boosted its stake in shares of Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) by 48.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 483,387 shares of the company's stock after buying an additional 158,013 shares during the period. Mackenzie Financial Corp owned approximately 0.31% of Qifu Technology worth $18,552,000 at the end of the most recent reporting period.

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

Qifu Technology Stock Down 3.2%

NASDAQ:QFIN traded down $1.34 during mid-day trading on Friday, hitting $41.10. 2,686,224 shares of the stock traded hands, compared to its average volume of 1,581,051. Qifu Technology, Inc. has a 52 week low of $18.13 and a 52 week high of $48.94. The stock has a market capitalization of $6.48 billion, a price-to-earnings ratio of 8.32, a PEG ratio of 0.32 and a beta of 0.53. The firm's 50 day moving average is $41.33 and its two-hundred day moving average is $39.90.

Qifu Technology (NASDAQ:QFIN - Get Free Report) last released its earnings results on Monday, May 19th. The company reported $1.74 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.02. The business 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%. As a group, research analysts predict that Qifu Technology, Inc. will post 5.71 EPS for the current year.

Qifu Technology Increases Dividend

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

Analyst Upgrades and Downgrades

Several research analysts have recently commented on QFIN shares. Bank of America raised their price objective on Qifu Technology from $50.66 to $52.70 and gave the stock a "buy" rating in a research note on Wednesday, March 26th. Wall Street Zen upgraded Qifu Technology from a "buy" rating to a "strong-buy" rating in a research report on Saturday, May 24th.

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.