Vise Technologies Inc. Makes New Investment in Qifu Technology, Inc. (NASDAQ:QFIN)

Vise Technologies Inc. bought a new position in Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,234 shares of the company's stock, valued at approximately $239,000.

A number of other institutional investors have also recently modified their holdings of QFIN. GeoWealth Management LLC bought a new stake in shares of Qifu Technology during the fourth quarter valued at approximately $26,000. Jones Financial Companies Lllp purchased a new stake in Qifu Technology during the 4th quarter valued at $29,000. Advisors Preferred LLC bought a new stake in shares of Qifu Technology in the 4th quarter worth $41,000. Global Retirement Partners LLC increased its holdings 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 purchasing an additional 518 shares in the last quarter. Finally, BOCHK Asset Management Ltd purchased a new position in shares of Qifu Technology in the fourth quarter worth $46,000. 74.81% of the stock is owned by hedge funds and other institutional investors.

Qifu Technology Trading Down 0.4%

NASDAQ:QFIN traded down $0.16 during trading hours on Monday, reaching $40.94. The company had a trading volume of 725,219 shares, compared to its average volume of 1,576,589. The firm has a market cap of $6.45 billion, a price-to-earnings ratio of 8.29, a PEG ratio of 0.32 and a beta of 0.53. The firm's 50 day moving average price is $41.15 and its 200-day moving average price is $40.18. Qifu Technology, Inc. has a 52 week low of $18.13 and a 52 week high of $48.94.

Qifu Technology (NASDAQ:QFIN - Get Free Report) last issued its quarterly earnings data on Monday, May 19th. The company reported $1.74 EPS for the quarter, topping 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 company had revenue of $646.19 million during the quarter, compared to analyst estimates of $4.61 billion. On average, analysts forecast that Qifu Technology, Inc. will post 5.71 earnings per share for the current fiscal year.

Qifu Technology Increases Dividend

The company also recently declared a semi-annual dividend, which will be paid on Monday, June 2nd. Shareholders of record on Wednesday, April 23rd will be paid a dividend of $0.70 per share. This is an increase from Qifu Technology's previous semi-annual dividend of $0.60. This represents a dividend yield of 2.5%. The ex-dividend date is Wednesday, April 23rd. Qifu Technology's payout ratio is currently 21.17%.

Analyst Ratings Changes

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

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.