Qifu Technology, Inc. (NASDAQ:QFIN) Holdings Raised by Polymer Capital Management HK LTD

Polymer Capital Management HK LTD grew its stake in Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) by 167.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 386,863 shares of the company's stock after purchasing an additional 242,352 shares during the period. Qifu Technology makes up about 2.6% of Polymer Capital Management HK LTD's holdings, making the stock its 7th largest holding. Polymer Capital Management HK LTD owned approximately 0.25% of Qifu Technology worth $14,848,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the stock. Wrapmanager Inc. raised its position in Qifu Technology by 4.1% in the fourth quarter. Wrapmanager Inc. now owns 7,554 shares of the company's stock valued at $290,000 after purchasing an additional 296 shares during the period. Global Retirement Partners LLC raised its holdings in Qifu Technology by 80.2% in the 4th quarter. Global Retirement Partners LLC now owns 1,164 shares of the company's stock valued at $45,000 after buying an additional 518 shares during the period. DGS Capital Management LLC lifted its position in Qifu Technology by 5.9% in the fourth quarter. DGS Capital Management LLC now owns 11,413 shares of the company's stock valued at $438,000 after buying an additional 631 shares during the last quarter. Jones Financial Companies Lllp purchased a new position in Qifu Technology during the fourth quarter worth about $29,000. Finally, Lester Murray Antman dba SimplyRich increased its position in shares of Qifu Technology by 5.7% during the fourth quarter. Lester Murray Antman dba SimplyRich now owns 14,288 shares of the company's stock valued at $548,000 after acquiring an additional 768 shares during the last quarter. 74.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Qifu Technology Stock Performance

Shares of NASDAQ QFIN traded down $0.33 during trading on Friday, reaching $36.40. The stock had a trading volume of 2,447,171 shares, compared to its average volume of 1,493,969. The company has a market cap of $5.74 billion, a P/E ratio of 7.29, a PEG ratio of 0.32 and a beta of 0.53. Qifu Technology, Inc. has a fifty-two week low of $17.76 and a fifty-two week high of $48.94. The business's 50-day moving average price is $42.14 and its 200-day moving average price is $37.77.

Qifu Technology (NASDAQ:QFIN - Get Free Report) last released its earnings results on Sunday, March 16th. The company reported $1.82 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.14. The company had revenue of $613.89 million during the quarter, compared to the consensus estimate of $581.67 million. Qifu Technology had a return on equity of 24.39% and a net margin of 31.82%. Analysts forecast 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. Investors of record on Wednesday, April 23rd will be paid 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 yield of 2.5%. The ex-dividend date is Wednesday, April 23rd. Qifu Technology's dividend payout ratio is presently 23.79%.

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.