Two Sigma Advisers LP Takes Position in Qifu Technology, Inc. (NASDAQ:QFIN)

Two Sigma Advisers LP bought a new stake in shares of Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 10,000 shares of the company's stock, valued at approximately $384,000.

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

Wall Street Analysts Forecast Growth

QFIN has been the topic of several analyst reports. Wall Street Zen lowered Qifu Technology from a "strong-buy" rating to a "buy" rating in a research note on Sunday, June 1st. Bank of America raised their price target on shares of Qifu Technology from $50.66 to $52.70 and gave the company a "buy" rating in a report on Wednesday, March 26th.

Qifu Technology Trading Up 0.9%

Shares of QFIN stock traded up $0.39 during trading hours on Monday, reaching $42.69. 731,699 shares of the company's stock were exchanged, compared to its average volume of 1,578,723. Qifu Technology, Inc. has a fifty-two week low of $18.13 and a fifty-two week high of $48.94. The stock's 50 day moving average is $40.86 and its 200-day moving average is $40.42. The company has a market cap of $6.73 billion, a price-to-earnings ratio of 8.64, a P/E/G ratio of 0.32 and a beta of 0.49.

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. The company had revenue of $646.19 million for the quarter, compared to analyst estimates of $4.61 billion. Qifu Technology had a return on equity of 24.39% and a net margin of 31.82%. Equities analysts anticipate that Qifu Technology, Inc. will post 5.71 EPS for the current year.

Qifu Technology Increases Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Monday, June 2nd. Investors of record on Wednesday, April 23rd were given a $0.70 dividend. This is a positive change from Qifu Technology's previous semi-annual dividend of $0.60. This represents a dividend yield of 2.5%. The ex-dividend date was Wednesday, April 23rd. Qifu Technology's dividend payout ratio (DPR) is presently 21.17%.

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.