MY.Alpha Management HK Advisors Ltd Invests $17.79 Million in Qifu Technology, Inc. (NASDAQ:QFIN)

MY.Alpha Management HK Advisors Ltd acquired a new position in 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 (SEC). The fund acquired 463,593 shares of the company's stock, valued at approximately $17,793,000. Qifu Technology makes up about 7.9% of MY.Alpha Management HK Advisors Ltd's investment portfolio, making the stock its 5th biggest position. MY.Alpha Management HK Advisors Ltd owned 0.29% of Qifu Technology as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Asset Management One Co. Ltd. increased its position in shares of Qifu Technology by 66.8% during the 4th quarter. Asset Management One Co. Ltd. now owns 32,873 shares of the company's stock worth $1,255,000 after purchasing an additional 13,170 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Qifu Technology during the fourth quarter worth $298,000. KBC Group NV increased its holdings in Qifu Technology by 279.6% during the fourth quarter. KBC Group NV now owns 35,381 shares of the company's stock worth $1,358,000 after buying an additional 26,061 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in Qifu Technology by 4,272.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 7,302 shares of the company's stock worth $280,000 after acquiring an additional 7,135 shares in the last quarter. Finally, New York State Common Retirement Fund lifted its stake in Qifu Technology by 30.8% in the fourth quarter. New York State Common Retirement Fund now owns 396,570 shares of the company's stock valued at $15,220,000 after acquiring an additional 93,409 shares during the last quarter. Institutional investors own 74.81% of the company's stock.

Qifu Technology Stock Up 1.3%

NASDAQ:QFIN opened at $46.05 on Wednesday. Qifu Technology, Inc. has a 12-month low of $18.13 and a 12-month high of $48.94. The firm has a market capitalization of $7.26 billion, a price-to-earnings ratio of 9.32, a P/E/G ratio of 0.32 and a beta of 0.53. The stock's 50 day moving average price is $41.25 and its two-hundred day moving average price is $39.05.

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

Qifu Technology Increases Dividend

The company also recently announced 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. The ex-dividend date is Wednesday, April 23rd. This represents a dividend yield of 2.5%. This is an increase from Qifu Technology's previous semi-annual dividend of $0.60. Qifu Technology's dividend payout ratio (DPR) is currently 23.79%.

Wall Street Analysts Forecast Growth

Separately, 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 research note 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.

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