Qifu Technology, Inc. (NASDAQ:QFIN) Stake Lifted by Deutsche Bank AG

Deutsche Bank AG increased its stake in Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) by 51.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 301,745 shares of the company's stock after buying an additional 102,975 shares during the period. Deutsche Bank AG owned 0.19% of Qifu Technology worth $11,581,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Aspex Management HK Ltd raised its holdings in Qifu Technology by 11.3% in the fourth quarter. Aspex Management HK Ltd now owns 6,371,808 shares of the company's stock worth $244,550,000 after purchasing an additional 648,088 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of Qifu Technology by 11.9% during the fourth quarter. AQR Capital Management LLC now owns 2,432,131 shares of the company's stock valued at $93,345,000 after purchasing an additional 258,586 shares during the last quarter. Alliancebernstein L.P. purchased a new position in shares of Qifu Technology during the fourth quarter valued at approximately $92,150,000. Arrowstreet Capital Limited Partnership boosted its position in shares of Qifu Technology by 10.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,478,319 shares of the company's stock worth $56,738,000 after purchasing an additional 134,326 shares in the last quarter. Finally, Causeway Capital Management LLC grew its stake in shares of Qifu Technology by 0.3% in the 4th quarter. Causeway Capital Management LLC now owns 1,377,475 shares of the company's stock worth $52,867,000 after buying an additional 4,137 shares during the last quarter. 74.81% of the stock is currently owned by hedge funds and other institutional investors.

Qifu Technology Price Performance

QFIN stock traded down $0.71 during trading on Wednesday, hitting $42.79. 377,536 shares of the stock traded hands, compared to its average volume of 1,571,281. The stock has a market cap of $6.74 billion, a price-to-earnings ratio of 8.64, a price-to-earnings-growth ratio of 0.32 and a beta of 0.53. Qifu Technology, Inc. has a 1 year low of $18.13 and a 1 year high of $48.94. The firm's 50 day moving average is $41.76 and its two-hundred day moving average is $39.47.

Qifu Technology (NASDAQ:QFIN - Get Free Report) last posted its quarterly earnings results on Monday, May 19th. The company reported $1.74 EPS for the quarter, beating analysts' consensus estimates of $1.72 by $0.02. Qifu Technology had a net margin of 31.82% and a return on equity of 24.39%. The firm had revenue of $646.19 million for the quarter, compared to analysts' expectations of $4.61 billion. As a group, analysts anticipate that Qifu Technology, Inc. will post 5.71 EPS for the current fiscal year.

Qifu Technology Increases Dividend

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

Analyst Upgrades and Downgrades

Separately, Bank of America lifted their price objective on 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.