Two Sigma Advisers LP Invests $384,000 in Qifu Technology, Inc. (NASDAQ:QFIN)

Two Sigma Advisers LP bought a new stake in Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 10,000 shares of the company's stock, valued at approximately $384,000.

Several other institutional investors have also added to or reduced their stakes in QFIN. Wrapmanager Inc. increased its position in Qifu Technology by 4.1% in the 4th quarter. Wrapmanager Inc. now owns 7,554 shares of the company's stock valued at $290,000 after buying an additional 296 shares in the last quarter. Global Retirement Partners LLC boosted its stake in shares of Qifu Technology by 80.2% in the 4th quarter. Global Retirement Partners LLC now owns 1,164 shares of the company's stock worth $45,000 after buying an additional 518 shares during the last quarter. GeoWealth Management LLC purchased a new position in Qifu Technology in the fourth quarter worth $26,000. Jones Financial Companies Lllp purchased a new stake in shares of Qifu Technology during the 4th quarter worth approximately $29,000. Finally, Lester Murray Antman dba SimplyRich grew its stake in shares of Qifu Technology by 5.7% during the 4th quarter. Lester Murray Antman dba SimplyRich now owns 14,288 shares of the company's stock worth $548,000 after acquiring an additional 768 shares during the period. 74.81% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on QFIN. Wall Street Zen lowered shares of Qifu Technology from a "strong-buy" rating to a "buy" rating in a research report on Sunday, June 1st. Bank of America boosted their price objective on shares of Qifu Technology from $50.66 to $52.70 and gave the stock a "buy" rating in a report on Wednesday, March 26th.

Qifu Technology Price Performance

Shares of QFIN stock traded down $0.68 on Friday, hitting $42.29. 1,078,964 shares of the stock traded hands, compared to its average volume of 1,582,123. The firm has a 50 day simple moving average of $40.86 and a two-hundred day simple moving average of $40.38. Qifu Technology, Inc. has a 52 week low of $18.13 and a 52 week high of $48.94. The firm has a market cap of $6.67 billion, a price-to-earnings ratio of 8.56, 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. The business had revenue of $646.19 million during 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%. Sell-side analysts forecast that Qifu Technology, Inc. will post 5.71 EPS for the current year.

Qifu Technology Increases Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Monday, June 2nd. Stockholders of record on Wednesday, April 23rd were paid a dividend of $0.70 per share. The ex-dividend date was 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 (DPR) is currently 21.17%.

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.