Hsbc Holdings PLC Buys 252,732 Shares of Qifu Technology, Inc. (NASDAQ:QFIN)

Hsbc Holdings PLC lifted its stake in shares of Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) by 40.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 885,074 shares of the company's stock after purchasing an additional 252,732 shares during the period. Hsbc Holdings PLC owned 0.56% of Qifu Technology worth $33,969,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of QFIN. Seldon Capital LP bought a new stake in shares of Qifu Technology in the fourth quarter valued at $4,639,000. GeoWealth Management LLC purchased a new stake in shares of Qifu Technology during the fourth quarter worth $26,000. Marshall Wace LLP grew its position in shares of Qifu Technology by 67.5% in the fourth quarter. Marshall Wace LLP now owns 1,351,277 shares of the company's stock valued at $51,862,000 after purchasing an additional 544,666 shares in the last quarter. Aware Super Pty Ltd as trustee of Aware Super purchased a new position in Qifu Technology during the 4th quarter valued at about $4,396,000. Finally, Causeway Capital Management LLC increased its position in shares of Qifu Technology by 0.3% during the fourth quarter. Causeway Capital Management LLC now owns 1,377,475 shares of the company's stock valued at $52,867,000 after buying an additional 4,137 shares during the period. Institutional investors own 74.81% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Bank of America raised their price objective 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 Trading Up 1.0 %

Shares of Qifu Technology stock traded up $0.40 during trading on Thursday, hitting $41.43. The stock had a trading volume of 217,594 shares, compared to its average volume of 1,544,181. The firm has a market cap of $6.53 billion, a price-to-earnings ratio of 8.41, a P/E/G 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. The business's 50-day moving average is $40.90 and its 200 day moving average is $38.43.

Qifu Technology (NASDAQ:QFIN - Get Free Report) last issued its quarterly earnings data on Sunday, March 16th. The company reported $1.82 EPS for the quarter, topping the consensus estimate of $1.68 by $0.14. The company had revenue of $613.89 million during the quarter, compared to analyst estimates of $581.67 million. Qifu Technology had a return on equity of 24.39% and a net margin of 31.82%. As a group, equities analysts expect 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 will be paid on Monday, June 2nd. Stockholders of record on Wednesday, April 23rd will be issued 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 of this dividend is Wednesday, April 23rd. Qifu Technology's payout ratio is currently 23.79%.

Qifu Technology 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.