Myriad Asset Management US LP Buys Shares of 51,516 Qifu Technology, Inc. (NASDAQ:QFIN)

Myriad Asset Management US LP purchased a new stake in Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 51,516 shares of the company's stock, valued at approximately $2,314,000. Qifu Technology accounts for about 1.0% of Myriad Asset Management US LP's portfolio, making the stock its 18th largest position.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Mackenzie Financial Corp increased its holdings in shares of Qifu Technology by 48.6% in the fourth quarter. Mackenzie Financial Corp now owns 483,387 shares of the company's stock valued at $18,552,000 after purchasing an additional 158,013 shares during the period. GF Fund Management CO. LTD. acquired a new position in Qifu Technology in the 4th quarter valued at $8,736,000. Public Employees Retirement System of Ohio increased its stake in Qifu Technology by 43.3% in the 4th quarter. Public Employees Retirement System of Ohio now owns 407,993 shares of the company's stock valued at $15,659,000 after buying an additional 123,292 shares during the period. Vise Technologies Inc. acquired a new position in Qifu Technology in the 4th quarter valued at $239,000. Finally, Vident Advisory LLC increased its stake in Qifu Technology by 9.2% in the 4th quarter. Vident Advisory LLC now owns 19,191 shares of the company's stock valued at $737,000 after buying an additional 1,621 shares during the period. Institutional investors and hedge funds own 74.81% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on QFIN shares. Wall Street Zen lowered shares of Qifu Technology from a "strong-buy" rating to a "buy" rating in a research note on Sunday, June 1st. Bank of America boosted their target price on Qifu Technology from $50.66 to $52.70 and gave the stock a "buy" rating in a research report on Wednesday, March 26th.

Qifu Technology Stock Down 1.6%

QFIN stock traded down $0.68 on Friday, reaching $42.29. 1,078,964 shares of the company's stock were exchanged, compared to its average volume of 1,579,448. Qifu Technology, Inc. has a twelve month low of $18.13 and a twelve month high of $48.94. The firm has a market cap of $6.67 billion, a PE ratio of 8.56, a P/E/G ratio of 0.32 and a beta of 0.53. The stock has a fifty day moving average of $40.86 and a 200-day moving average of $40.34.

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

Qifu Technology Increases Dividend

The company also recently declared a semi-annual dividend, which was paid on Monday, June 2nd. Investors of record on Wednesday, April 23rd were issued a $0.70 dividend. The ex-dividend date of this dividend was 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 currently 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.