Northern Trust Corp Has $27.50 Million Holdings in Qifu Technology, Inc. (NASDAQ:QFIN)

Northern Trust Corp grew its holdings in shares of Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) by 116.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 716,467 shares of the company's stock after purchasing an additional 384,948 shares during the quarter. Northern Trust Corp owned about 0.45% of Qifu Technology worth $27,498,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of QFIN. Asset Management One Co. Ltd. boosted its holdings 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 buying an additional 13,170 shares during the period. Raymond James Financial Inc. bought a new position in shares of Qifu Technology in the fourth quarter worth about $298,000. KBC Group NV lifted its position in shares of Qifu Technology by 279.6% during the 4th quarter. KBC Group NV now owns 35,381 shares of the company's stock worth $1,358,000 after purchasing an additional 26,061 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in Qifu Technology by 4,272.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 7,302 shares of the company's stock valued at $280,000 after purchasing an additional 7,135 shares during the period. Finally, New York State Common Retirement Fund grew its holdings 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. Institutional investors own 74.81% of the company's stock.

Qifu Technology Stock Up 0.5%

NASDAQ QFIN traded up $0.22 during midday trading on Friday, hitting $44.43. The company had a trading volume of 587,982 shares, compared to its average volume of 1,734,090. The firm has a fifty day simple moving average of $41.55 and a two-hundred day simple moving average of $39.20. The stock has a market cap of $7.00 billion, a price-to-earnings ratio of 8.99, a P/E/G ratio of 0.32 and a beta of 0.53. Qifu Technology, Inc. has a fifty-two week low of $18.13 and a fifty-two week high of $48.94.

Qifu Technology (NASDAQ:QFIN - Get Free Report) last posted its quarterly earnings results on Sunday, March 16th. The company reported $1.82 EPS for the quarter, beating the consensus estimate 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%. As a group, equities analysts predict that Qifu Technology, Inc. will post 5.71 earnings per share for the current year.

Qifu Technology Increases Dividend

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

Wall Street Analysts Forecast Growth

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