Acadian Asset Management LLC boosted its stake in Qifu Technology, Inc. (NASDAQ:QFIN – Free Report) by 74.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,586 shares of the company’s stock after acquiring an additional 7,919 shares during the period. Acadian Asset Management LLC’s holdings in Qifu Technology were worth $320,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC raised its holdings in Qifu Technology by 164.5% in the third quarter. Tower Research Capital LLC TRC now owns 5,203 shares of the company’s stock valued at $67,000 after acquiring an additional 3,236 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of Qifu Technology in the 2nd quarter worth about $84,000. Signaturefd LLC lifted its position in shares of Qifu Technology by 13.4% in the 2nd quarter. Signaturefd LLC now owns 5,189 shares of the company’s stock worth $90,000 after buying an additional 614 shares during the last quarter. Robeco Institutional Asset Management B.V. bought a new position in shares of Qifu Technology in the 1st quarter worth about $134,000. Finally, Daiwa Securities Group Inc. bought a new position in shares of Qifu Technology in the 1st quarter worth about $153,000. 64.21% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Separately, CLSA reduced their price target on shares of Qifu Technology from $27.80 to $25.90 in a research report on Friday, September 1st.
Qifu Technology Stock Performance
Qifu Technology stock opened at $16.87 on Friday. The firm’s 50-day moving average is $15.42 and its 200-day moving average is $16.37. Qifu Technology, Inc. has a 1 year low of $12.90 and a 1 year high of $25.49. The company has a market cap of $2.72 billion, a P/E ratio of 4.85, a PEG ratio of 0.41 and a beta of 0.54.
Qifu Technology (NASDAQ:QFIN – Get Free Report) last issued its quarterly earnings data on Monday, August 21st. The company reported $0.92 earnings per share for the quarter, missing the consensus estimate of $0.97 by ($0.05). The firm had revenue of $539.81 million during the quarter, compared to the consensus estimate of $553.01 million. Qifu Technology had a net margin of 25.72% and a return on equity of 20.14%. As a group, sell-side analysts predict that Qifu Technology, Inc. will post 3.66 earnings per share for the current year.
Qifu Technology Announces Dividend
The company also recently disclosed a semi-annual dividend, which was paid on Wednesday, November 1st. Investors of record on Friday, September 22nd were given a $0.50 dividend. The ex-dividend date of this dividend was Thursday, September 21st. This represents a yield of 4.9%. Qifu Technology’s dividend payout ratio is presently 28.16%.
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.
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