Public Employees Retirement System of Ohio Increases Stake in Qifu Technology, Inc. (NASDAQ:QFIN)

Public Employees Retirement System of Ohio increased its position in Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) by 43.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 407,993 shares of the company's stock after buying an additional 123,292 shares during the quarter. Public Employees Retirement System of Ohio owned 0.26% of Qifu Technology worth $15,659,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Asset Management One Co. Ltd. grew its stake in Qifu Technology by 66.8% in the fourth quarter. Asset Management One Co. Ltd. now owns 32,873 shares of the company's stock valued at $1,255,000 after acquiring an additional 13,170 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Qifu Technology during the fourth quarter valued at about $298,000. KBC Group NV grew its holdings in shares of Qifu Technology by 279.6% during the fourth quarter. KBC Group NV now owns 35,381 shares of the company's stock valued at $1,358,000 after buying an additional 26,061 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Qifu Technology by 4,272.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 7,302 shares of the company's stock worth $280,000 after acquiring an additional 7,135 shares in the last quarter. Finally, New York State Common Retirement Fund raised its holdings in shares of Qifu Technology by 30.8% in the 4th quarter. New York State Common Retirement Fund now owns 396,570 shares of the company's stock worth $15,220,000 after acquiring an additional 93,409 shares during the last quarter. Institutional investors and hedge funds own 74.81% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on QFIN. 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 report on Wednesday, March 26th. Wall Street Zen raised Qifu Technology from a "buy" rating to a "strong-buy" rating in a report on Saturday.

Qifu Technology Stock Up 0.3%

NASDAQ:QFIN traded up $0.12 during trading hours on Wednesday, hitting $42.67. 1,456,892 shares of the company traded hands, compared to its average volume of 1,577,241. The firm's 50-day simple moving average is $41.37 and its 200-day simple moving average is $39.83. Qifu Technology, Inc. has a one year low of $18.13 and a one year high of $48.94. The company has a market cap of $6.73 billion, a PE ratio of 8.64, a PEG ratio of 0.32 and a beta of 0.53.

Qifu Technology (NASDAQ:QFIN - Get Free Report) last announced its 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. 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 during the quarter, compared to analyst estimates of $4.61 billion. As a group, equities research analysts expect that Qifu Technology, Inc. will post 5.71 EPS for the current year.

Qifu Technology Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Monday, June 2nd. Stockholders of record on Wednesday, April 23rd will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Wednesday, April 23rd. This is a positive change 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 currently 21.17%.

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.