AQR Capital Management LLC Makes New Investment in Qifu Technology, Inc. (NASDAQ:QFIN)

AQR Capital Management LLC purchased a new stake in Qifu Technology, Inc. (NASDAQ:QFIN) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 1,314,822 shares of the company’s stock, valued at approximately $25,560,000. AQR Capital Management LLC owned 0.81% of Qifu Technology at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. AXA S.A. purchased a new position in Qifu Technology in the second quarter worth approximately $1,327,000. Marshall Wace LLP grew its holdings in shares of Qifu Technology by 557.5% during the 2nd quarter. Marshall Wace LLP now owns 776,457 shares of the company’s stock worth $15,319,000 after purchasing an additional 658,366 shares during the period. Sompo Asset Management Co. Ltd. increased its position in shares of Qifu Technology by 25.8% during the 2nd quarter. Sompo Asset Management Co. Ltd. now owns 34,470 shares of the company’s stock worth $680,000 after purchasing an additional 7,080 shares during the last quarter. Sei Investments Co. raised its holdings in Qifu Technology by 115.5% in the 2nd quarter. Sei Investments Co. now owns 36,059 shares of the company’s stock valued at $711,000 after buying an additional 19,327 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ lifted its position in Qifu Technology by 19.4% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 26,500 shares of the company’s stock valued at $523,000 after buying an additional 4,300 shares during the last quarter. Institutional investors and hedge funds own 74.81% of the company’s stock.

Qifu Technology Price Performance

Shares of QFIN stock opened at $29.58 on Monday. The company has a 50-day moving average of $23.56 and a two-hundred day moving average of $20.93. Qifu Technology, Inc. has a 1-year low of $13.68 and a 1-year high of $29.69. The firm has a market cap of $4.77 billion, a PE ratio of 7.66, a price-to-earnings-growth ratio of 0.47 and a beta of 0.61.

Qifu Technology (NASDAQ:QFIN) last announced its earnings results on Tuesday, August 13th. The company reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.23. Qifu Technology had a return on equity of 21.82% and a net margin of 28.06%. The company had revenue of $572.44 million for the quarter, compared to analyst estimates of $582.69 million. Sell-side analysts anticipate that Qifu Technology, Inc. will post 4.94 EPS for the current fiscal year.

Qifu Technology Increases Dividend

The company also recently announced a semi-annual dividend, which will be paid on Friday, November 1st. Investors of record on Friday, September 27th will be issued a $0.60 dividend. This is a boost from Qifu Technology’s previous semi-annual dividend of $0.57. The ex-dividend date is Friday, September 27th. This represents a yield of 4.7%. Qifu Technology’s dividend payout ratio (DPR) is 29.53%.

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.