Deutsche Bank AG Grows Position in Qifu Technology, Inc. (NASDAQ:QFIN)

Deutsche Bank AG grew its position in shares of Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) by 51.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 301,745 shares of the company's stock after purchasing an additional 102,975 shares during the quarter. Deutsche Bank AG owned approximately 0.19% of Qifu Technology worth $11,581,000 as of its most recent SEC filing.

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

Qifu Technology Stock Down 0.7%

QFIN traded down $0.32 during mid-day trading on Monday, reaching $43.95. 1,925,974 shares of the company traded hands, compared to its average volume of 1,564,935. Qifu Technology, Inc. has a 52-week low of $18.13 and a 52-week high of $48.94. The stock has a market capitalization of $6.93 billion, a P/E ratio of 8.90, a P/E/G ratio of 0.32 and a beta of 0.53. The company's fifty day moving average price is $41.62 and its 200-day moving average price is $39.36.

Qifu Technology (NASDAQ:QFIN - Get Free Report) last issued its quarterly earnings data on Monday, May 19th. The company reported $1.74 earnings per share for the quarter, beating analysts' consensus estimates of $1.72 by $0.02. Qifu Technology had a return on equity of 24.39% and a net margin of 31.82%. As a group, sell-side 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 given a dividend of $0.70 per share. This represents a dividend yield of 2.5%. This is a positive change 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 is presently 23.79%.

Analyst Upgrades and Downgrades

Separately, Bank of America lifted their price objective 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 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.