Point72 Hong Kong Ltd Raises Stake in Qifu Technology, Inc. (NASDAQ:QFIN)

Point72 Hong Kong Ltd lifted its position in shares of Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) by 12.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 601,579 shares of the company's stock after purchasing an additional 66,081 shares during the quarter. Qifu Technology makes up about 1.4% of Point72 Hong Kong Ltd's investment portfolio, making the stock its 14th largest position. Point72 Hong Kong Ltd owned 0.38% of Qifu Technology worth $23,089,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Wrapmanager Inc. lifted its stake 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 buying an additional 296 shares during the period. Global Retirement Partners LLC raised its position 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 last quarter. DGS Capital Management LLC increased its position in shares of Qifu Technology by 5.9% during the 4th quarter. DGS Capital Management LLC now owns 11,413 shares of the company's stock worth $438,000 after purchasing an additional 631 shares during the last quarter. GeoWealth Management LLC acquired a new position in shares of Qifu Technology during the 4th quarter worth approximately $26,000. Finally, Jones Financial Companies Lllp bought a new position in shares of Qifu Technology during the 4th quarter worth approximately $29,000. Institutional investors and hedge funds own 74.81% of the company's stock.

Qifu Technology Stock Performance

Shares of QFIN traded down $1.21 during mid-day trading on Tuesday, reaching $42.74. 1,239,713 shares of the company were exchanged, compared to its average volume of 1,564,241. The stock has a market capitalization of $6.74 billion, a PE ratio of 8.65, a PEG ratio of 0.32 and a beta of 0.53. The business has a 50 day simple moving average of $41.69 and a two-hundred day simple moving average of $39.44. Qifu Technology, Inc. has a 52 week low of $18.13 and a 52 week high of $48.94.

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

Qifu Technology Increases Dividend

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

Wall Street Analyst Weigh In

Separately, Bank of America upped their price objective on Qifu Technology from $50.66 to $52.70 and gave the company a "buy" rating in a 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.