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

Principal Financial Group Inc. grew its holdings in shares of Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) by 52.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 61,384 shares of the company's stock after purchasing an additional 21,250 shares during the period. Principal Financial Group Inc.'s holdings in Qifu Technology were worth $2,757,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of QFIN. Krane Funds Advisors LLC boosted its position in shares of Qifu Technology by 24.4% in the 1st quarter. Krane Funds Advisors LLC now owns 7,032,927 shares of the company's stock valued at $315,849,000 after purchasing an additional 1,381,624 shares during the period. KBC Group NV boosted its position in shares of Qifu Technology by 592.3% in the first quarter. KBC Group NV now owns 244,960 shares of the company's stock worth $11,001,000 after buying an additional 209,579 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Qifu Technology by 0.6% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 277,542 shares of the company's stock worth $12,464,000 after purchasing an additional 1,750 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Qifu Technology by 10,812.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,042,306 shares of the company's stock valued at $91,720,000 after acquiring an additional 2,023,590 shares in the last quarter. Finally, Artemis Investment Management LLP grew its stake in Qifu Technology by 83.9% in the first quarter. Artemis Investment Management LLP now owns 598,432 shares of the company's stock valued at $26,876,000 after purchasing an additional 272,932 shares in the last quarter. 74.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

QFIN has been the subject of several research analyst reports. Bank of America boosted their price objective on 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 Qifu Technology from a "strong-buy" rating to a "buy" rating in a report on Friday. Finally, JPMorgan Chase & Co. began coverage on Qifu Technology in a research note on Wednesday, July 2nd. They issued an "overweight" rating and a $65.00 price objective on the stock.

Qifu Technology Trading Down 3.5%

QFIN traded down $1.48 during mid-day trading on Tuesday, reaching $40.50. The stock had a trading volume of 3,966,733 shares, compared to its average volume of 1,598,069. Qifu Technology, Inc. has a 52 week low of $18.13 and a 52 week high of $48.94. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.08 and a current ratio of 3.08. The stock has a market capitalization of $6.38 billion, a P/E ratio of 6.21, a P/E/G ratio of 0.52 and a beta of 0.48. The firm's fifty day simple moving average is $42.98 and its two-hundred day simple moving average is $41.59.

Qifu Technology (NASDAQ:QFIN - Get Free Report) last announced its quarterly earnings data on Monday, May 19th. The company reported $1.74 earnings per share 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 analysts' expectations of $4.61 billion. Qifu Technology had a return on equity of 29.73% and a net margin of 38.99%. On average, equities analysts predict that Qifu Technology, Inc. will post 5.71 EPS for the current 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.