RWC Asset Management LLP lifted its stake in Qifu Technology, Inc. (NASDAQ:QFIN – Free Report) by 42.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 58,505 shares of the company’s stock after purchasing an additional 17,427 shares during the quarter. RWC Asset Management LLP’s holdings in Qifu Technology were worth $926,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Employees Retirement System of Texas purchased a new position in Qifu Technology during the 3rd quarter worth approximately $51,000. Clear Street Markets LLC acquired a new stake in shares of Qifu Technology during the 3rd quarter worth approximately $58,000. Quantbot Technologies LP grew its stake in shares of Qifu Technology by 60.0% during the 3rd 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 period. Handelsinvest Investeringsforvaltning acquired a new stake in shares of Qifu Technology during the 4th quarter worth approximately $150,000. Finally, Fox Run Management L.L.C. acquired a new stake in shares of Qifu Technology during the 3rd quarter worth approximately $218,000. 74.81% of the stock is owned by hedge funds and other institutional investors.
Qifu Technology Stock Performance
Qifu Technology stock traded down $0.35 during trading on Friday, reaching $18.52. The company had a trading volume of 1,469,937 shares, compared to its average volume of 966,443. The firm’s 50-day simple moving average is $17.67 and its 200 day simple moving average is $16.00. 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 PE ratio of 5.06, a price-to-earnings-growth ratio of 0.44 and a beta of 0.62.
Qifu Technology Increases Dividend
The company also recently disclosed a semi-annual dividend, which will be paid on Friday, May 24th. Shareholders of record on Monday, April 15th will be issued a $0.57 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a yield of 5.7%. This is a positive change from Qifu Technology’s previous semi-annual dividend of $0.50. Qifu Technology’s dividend payout ratio (DPR) is presently 31.15%.
Analysts Set New Price Targets
Separately, Citigroup raised 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.
View Our Latest Stock Report on Qifu Technology
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.
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