Qifu Technology, Inc. (NASDAQ:QFIN) Holdings Increased by Polymer Capital Management HK LTD

Polymer Capital Management HK LTD increased its position in shares of Qifu Technology, Inc. (NASDAQ:QFIN) by 167.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 386,863 shares of the company’s stock after buying an additional 242,352 shares during the period. Qifu Technology comprises approximately 2.6% of Polymer Capital Management HK LTD’s holdings, making the stock its 7th biggest holding. Polymer Capital Management HK LTD owned about 0.25% of Qifu Technology worth $14,848,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in QFIN. Russell Investments Group Ltd. grew its holdings in Qifu Technology by 14.0% during the 4th quarter. Russell Investments Group Ltd. now owns 956,705 shares of the company’s stock worth $36,286,000 after acquiring an additional 117,256 shares in the last quarter. Aviva PLC raised its stake in Qifu Technology by 2.3% during the fourth quarter. Aviva PLC now owns 80,000 shares of the company’s stock valued at $3,070,000 after buying an additional 1,800 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in Qifu Technology by 1,392.0% during the 4th quarter. Wells Fargo & Company MN now owns 5,595 shares of the company’s stock worth $215,000 after buying an additional 5,220 shares during the last quarter. Resona Asset Management Co. Ltd. acquired a new position in shares of Qifu Technology in the 4th quarter worth approximately $954,000. Finally, ExodusPoint Capital Management LP bought a new stake in shares of Qifu Technology in the 4th quarter valued at approximately $2,028,000. Institutional investors and hedge funds own 74.81% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Bank of America raised their price objective on Qifu Technology from $50.66 to $52.70 and gave the stock a “buy” rating in a research note on Wednesday, March 26th.

Qifu Technology Stock Down 12.0 %

Shares of NASDAQ:QFIN opened at $38.25 on Friday. The company has a market cap of $6.03 billion, a PE ratio of 7.74, a P/E/G ratio of 0.32 and a beta of 0.53. Qifu Technology, Inc. has a fifty-two week low of $17.76 and a fifty-two week high of $48.94. The firm has a 50-day simple moving average of $42.69 and a 200 day simple moving average of $37.42.

Qifu Technology (NASDAQ:QFIN) last posted its 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 company had revenue of $613.89 million during the quarter, compared to analyst estimates of $581.67 million. Qifu Technology had a return on equity of 24.39% and a net margin of 31.82%. As a group, research analysts forecast that Qifu Technology, Inc. will post 5.71 EPS for the current fiscal year.

Qifu Technology Increases Dividend

The company also recently declared a semi-annual dividend, which will be paid on Monday, June 2nd. Stockholders of record on Wednesday, April 23rd will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Wednesday, April 23rd. This represents a dividend yield of 2.5%. This is a positive change from Qifu Technology’s previous semi-annual dividend of $0.60. Qifu Technology’s dividend payout ratio is currently 23.79%.

Qifu Technology Company 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.