Triata Capital Ltd Makes New Investment in Qifu Technology, Inc. (NASDAQ:QFIN)

Triata Capital Ltd acquired a new stake in Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 61,747 shares of the company's stock, valued at approximately $2,370,000. Qifu Technology comprises approximately 1.0% of Triata Capital Ltd's portfolio, making the stock its 10th biggest position.

Several other hedge funds also recently bought and sold shares of the business. Aspex Management HK Ltd grew its stake in Qifu Technology by 11.3% in the fourth quarter. Aspex Management HK Ltd now owns 6,371,808 shares of the company's stock worth $244,550,000 after purchasing an additional 648,088 shares in the last quarter. AQR Capital Management LLC grew its position in shares of Qifu Technology by 11.9% during the 4th quarter. AQR Capital Management LLC now owns 2,432,131 shares of the company's stock worth $93,345,000 after buying an additional 258,586 shares in the last quarter. Alliancebernstein L.P. purchased a new position in shares of Qifu Technology during the fourth quarter valued at $92,150,000. Man Group plc increased its stake in shares of Qifu Technology by 10.4% during the fourth quarter. Man Group plc now owns 1,529,897 shares of the company's stock valued at $58,717,000 after buying an additional 144,328 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of Qifu Technology by 10.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,478,319 shares of the company's stock valued at $56,738,000 after acquiring an additional 134,326 shares in the last quarter. Institutional investors own 74.81% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Bank of America raised their target price on shares of Qifu Technology from $50.66 to $52.70 and gave the company a "buy" rating in a research report on Wednesday, March 26th.

Qifu Technology Stock Performance

NASDAQ:QFIN traded down $0.72 during trading hours on Friday, reaching $42.25. The company's stock had a trading volume of 253,466 shares, compared to its average volume of 1,570,461. The stock has a 50 day moving average price of $41.67 and a two-hundred day moving average price of $39.56. The company has a market capitalization of $6.66 billion, a P/E ratio of 8.56, a price-to-earnings-growth ratio of 0.32 and a beta of 0.53. Qifu Technology, Inc. has a 12 month low of $18.13 and a 12 month 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 analysts' consensus estimates of $1.72 by $0.02. The business had revenue of $646.19 million for the quarter, compared to the consensus estimate of $4.61 billion. Qifu Technology had a return on equity of 24.39% and a net margin of 31.82%. As a group, analysts predict that Qifu Technology, Inc. will post 5.71 EPS for the current fiscal year.

Qifu Technology Increases Dividend

The firm also recently declared 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 an increase 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 is presently 23.79%.

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.