Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Qifu Technology, Inc. (NASDAQ:QFIN – Free Report) by 18.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 243,658 shares of the company’s stock after buying an additional 38,095 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Qifu Technology were worth $3,855,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Employees Retirement System of Texas bought a new stake in shares of Qifu Technology during the third quarter worth $51,000. Clear Street Markets LLC bought a new stake in shares of Qifu Technology in the third quarter worth $58,000. Quantbot Technologies LP grew its stake in shares of Qifu Technology by 60.0% in the third quarter. Quantbot Technologies LP now owns 7,437 shares of the company’s stock worth $114,000 after purchasing an additional 2,789 shares during the last quarter. Handelsinvest Investeringsforvaltning bought a new stake in shares of Qifu Technology in the fourth quarter worth $150,000. Finally, Fox Run Management L.L.C. bought a new stake in shares of Qifu Technology in the third quarter worth $218,000. Institutional investors own 74.81% of the company’s stock.
Qifu Technology Trading Up 1.2 %
Shares of NASDAQ QFIN opened at $18.51 on Wednesday. The firm’s 50-day moving average price is $17.46 and its 200-day moving average price is $15.94. Qifu Technology, Inc. has a 1-year low of $13.12 and a 1-year high of $20.61. The firm has a market capitalization of $2.99 billion, a P/E ratio of 5.06, a P/E/G ratio of 0.42 and a beta of 0.62.
Qifu Technology Increases Dividend
The firm also recently announced a semi-annual dividend, which will be paid on Friday, May 24th. Investors of record on Monday, April 15th will be issued a $0.57 dividend. This represents a dividend yield of 5.7%. The ex-dividend date is Friday, April 12th. This is a positive change from Qifu Technology’s previous semi-annual dividend of $0.50. Qifu Technology’s dividend payout ratio is currently 31.15%.
Wall Street Analysts Forecast Growth
Separately, Citigroup boosted their price objective on shares of Qifu Technology from $23.54 to $23.80 and gave the stock a “buy” rating in a research note on Thursday, March 14th.
Check Out Our Latest Stock Report on QFIN
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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