Qifu Technology, Inc. (NASDAQ:QFIN) Holdings Lifted by Millennium Management LLC

Millennium Management LLC lifted its holdings in shares of Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) by 57.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 354,042 shares of the company's stock after buying an additional 129,624 shares during the period. Millennium Management LLC owned about 0.22% of Qifu Technology worth $13,588,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of QFIN. GeoWealth Management LLC purchased a new stake in Qifu Technology in the 4th quarter worth approximately $26,000. Jones Financial Companies Lllp acquired a new position in shares of Qifu Technology during the 4th quarter valued at $29,000. Advisors Preferred LLC acquired a new position in shares of Qifu Technology during the 4th quarter valued at $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 acquiring an additional 518 shares in the last quarter. Finally, BOCHK Asset Management Ltd acquired a new position in shares of Qifu Technology during the 4th quarter valued at $46,000. 74.81% of the stock is currently owned by institutional investors and hedge funds.

Qifu Technology Stock Up 0.7%

NASDAQ QFIN traded up $0.30 on Wednesday, hitting $42.85. The stock had a trading volume of 357,678 shares, compared to its average volume of 1,569,696. Qifu Technology, Inc. has a one year low of $18.13 and a one year high of $48.94. The stock has a market cap of $6.75 billion, a price-to-earnings ratio of 8.68, a P/E/G ratio of 0.32 and a beta of 0.53. The company's 50-day moving average is $41.41 and its two-hundred day moving average is $39.81.

Qifu Technology (NASDAQ:QFIN - Get Free Report) last issued its quarterly earnings results on Monday, May 19th. The company reported $1.74 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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. On average, sell-side analysts anticipate that Qifu Technology, Inc. will post 5.71 earnings per share for the current year.

Qifu Technology Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Monday, June 2nd. Investors of record on Wednesday, April 23rd will be issued a $0.70 dividend. This represents a dividend 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 presently 21.17%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Bank of America upped 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. Wall Street Zen upgraded Qifu Technology from a "buy" rating to a "strong-buy" rating in a research note on Saturday.

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.