Marshall Wace LLP Has $51.86 Million Holdings in Qifu Technology, Inc. (NASDAQ:QFIN)

Marshall Wace LLP lifted its holdings in Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) by 67.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,351,277 shares of the company's stock after purchasing an additional 544,666 shares during the quarter. Marshall Wace LLP owned 0.86% of Qifu Technology worth $51,862,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Jones Financial Companies Lllp bought a new stake in Qifu Technology during the fourth quarter worth approximately $29,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Qifu Technology in the third quarter valued at $30,000. Advisors Preferred LLC purchased a new position in shares of Qifu Technology during the fourth quarter valued at $41,000. Global Retirement Partners LLC lifted its stake in 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 acquiring an additional 518 shares in the last quarter. Finally, BOCHK Asset Management Ltd acquired a new position in shares of Qifu Technology in the fourth quarter worth $46,000. 74.81% of the stock is owned by institutional investors and hedge funds.

Qifu Technology Stock Performance

Shares of NASDAQ:QFIN traded up $1.77 during trading on Wednesday, hitting $39.01. 1,123,854 shares of the stock were exchanged, compared to its average volume of 1,543,473. Qifu Technology, Inc. has a 1-year low of $18.13 and a 1-year high of $48.94. The company has a market capitalization of $6.15 billion, a price-to-earnings ratio of 7.90, a price-to-earnings-growth ratio of 0.32 and a beta of 0.53. The company's fifty day simple moving average is $41.28 and its 200-day simple moving average is $38.12.

Qifu Technology (NASDAQ:QFIN - Get Free Report) last announced its earnings results on Sunday, March 16th. The company reported $1.82 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.68 by $0.14. Qifu Technology had a net margin of 31.82% and a return on equity of 24.39%. The business had revenue of $613.89 million during the quarter, compared to analysts' expectations of $581.67 million. On average, research analysts forecast that Qifu Technology, Inc. will post 5.71 earnings per share for the current fiscal year.

Qifu Technology Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Monday, June 2nd. Shareholders of record on Wednesday, April 23rd will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Wednesday, April 23rd. This represents a yield of 2.5%. This is a positive change from Qifu Technology's previous semi-annual dividend of $0.60. Qifu Technology's dividend payout ratio is currently 23.79%.

Wall Street Analyst Weigh In

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

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.