E Fund Management Co. Ltd. Has $14.57 Million Stake in Qifu Technology, Inc. (NASDAQ:QFIN)

E Fund Management Co. Ltd. grew its position in Qifu Technology, Inc. (NASDAQ:QFIN) by 1.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 920,787 shares of the company’s stock after buying an additional 15,427 shares during the quarter. Qifu Technology accounts for about 0.9% of E Fund Management Co. Ltd.’s portfolio, making the stock its 17th largest holding. E Fund Management Co. Ltd.’s holdings in Qifu Technology were worth $14,567,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. abrdn plc raised its position in Qifu Technology by 1.8% during the third quarter. abrdn plc now owns 86,850 shares of the company’s stock valued at $1,334,000 after purchasing an additional 1,519 shares in the last quarter. Shell Asset Management Co. lifted its position in shares of Qifu Technology by 9.2% during the 3rd quarter. Shell Asset Management Co. now owns 27,686 shares of the company’s stock worth $425,000 after buying an additional 2,323 shares during the last quarter. Quantbot Technologies LP boosted its stake in Qifu Technology by 60.0% in the third quarter. Quantbot Technologies LP now owns 7,437 shares of the company’s stock valued at $114,000 after buying an additional 2,789 shares in the last quarter. Altfest L J & Co. Inc. raised its stake in Qifu Technology by 16.0% during the fourth quarter. Altfest L J & Co. Inc. now owns 22,960 shares of the company’s stock worth $363,000 after acquiring an additional 3,171 shares in the last quarter. Finally, Employees Retirement System of Texas bought a new position in shares of Qifu Technology in the third quarter worth about $51,000. Institutional investors and hedge funds own 74.81% of the company’s stock.

Analysts Set New Price Targets

Separately, Citigroup lifted their price target on shares of Qifu Technology from $23.54 to $23.80 and gave the company a “buy” rating in a report on Thursday, March 14th.

Qifu Technology Price Performance

QFIN stock traded up $0.99 during midday trading on Thursday, reaching $20.90. 946,468 shares of the stock were exchanged, compared to its average volume of 1,108,666. The company has a fifty day moving average price of $18.28 and a 200 day moving average price of $16.20. Qifu Technology, Inc. has a 52 week low of $13.12 and a 52 week high of $20.99. The stock has a market capitalization of $3.37 billion, a PE ratio of 5.68, a P/E/G ratio of 0.45 and a beta of 0.57.

Qifu Technology (NASDAQ:QFIN) last issued its quarterly earnings data on Tuesday, March 12th. The company reported $0.96 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.96. Qifu Technology had a net margin of 26.29% and a return on equity of 20.44%. The business had revenue of $633.18 million during the quarter, compared to analyst estimates of $597.09 million. As a group, analysts anticipate that Qifu Technology, Inc. will post 4.31 earnings per share for the current fiscal year.

Qifu Technology Increases Dividend

The business also recently disclosed 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 yield of 5.7%. This is an increase from Qifu Technology’s previous semi-annual dividend of $0.50. The ex-dividend date of this dividend is Friday, April 12th. Qifu Technology’s dividend payout ratio is presently 31.15%.

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.