Principal Financial Group Inc. Has $2.76 Million Stock Holdings in Qifu Technology, Inc. (NASDAQ:QFIN)

Principal Financial Group Inc. boosted its position in shares of Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) by 52.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 61,384 shares of the company's stock after acquiring an additional 21,250 shares during the period. Principal Financial Group Inc.'s holdings in Qifu Technology were worth $2,757,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Raymond James Financial Inc. purchased a new position in shares of Qifu Technology in the 4th quarter valued at about $298,000. HighTower Advisors LLC purchased a new position in shares of Qifu Technology in the 4th quarter valued at about $563,000. Natixis Advisors LLC increased its holdings in shares of Qifu Technology by 7.7% in the 4th quarter. Natixis Advisors LLC now owns 23,621 shares of the company's stock valued at $907,000 after purchasing an additional 1,686 shares in the last quarter. Royal London Asset Management Ltd. purchased a new position in Qifu Technology during the 4th quarter valued at about $3,911,000. Finally, iA Global Asset Management Inc. purchased a new position in Qifu Technology during the 4th quarter valued at about $93,000. Institutional investors and hedge funds own 74.81% of the company's stock.

Wall Street Analyst Weigh In

QFIN has been the subject of a number of recent research reports. JPMorgan Chase & Co. initiated coverage on shares of Qifu Technology in a report on Wednesday, July 2nd. They set an "overweight" rating and a $65.00 price target for the company. Bank of America lifted their price target on shares of Qifu Technology from $50.66 to $52.70 and gave the stock a "buy" rating in a report on Wednesday, March 26th. Finally, Wall Street Zen cut shares of Qifu Technology from a "strong-buy" rating to a "buy" rating in a research report on Friday.

Qifu Technology Stock Up 0.7%

Shares of NASDAQ:QFIN traded up $0.28 during midday trading on Friday, reaching $42.28. The company had a trading volume of 2,318,529 shares, compared to its average volume of 1,584,313. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.08 and a quick ratio of 3.08. The stock's fifty day moving average price is $43.05 and its 200-day moving average price is $41.55. The stock has a market capitalization of $6.66 billion, a P/E ratio of 6.48, a PEG ratio of 0.52 and a beta of 0.48. Qifu Technology, Inc. has a one year low of $18.13 and a one year high of $48.94.

Qifu Technology (NASDAQ:QFIN - Get Free Report) last announced its quarterly earnings results on Monday, May 19th. The company reported $1.74 earnings per share (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 net margin of 38.99% and a return on equity of 29.73%. Equities research analysts expect that Qifu Technology, Inc. will post 5.71 earnings per share for the current fiscal year.

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.