APG Asset Management N.V. Buys 5,900 Shares of Qifu Technology, Inc. (NASDAQ:QFIN)

APG Asset Management N.V. increased its position in Qifu Technology, Inc. (NASDAQ:QFIN) by 52.2% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 17,200 shares of the company’s stock after buying an additional 5,900 shares during the quarter. APG Asset Management N.V.’s holdings in Qifu Technology were worth $638,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in QFIN. Jones Financial Companies Lllp purchased a new position in shares of Qifu Technology in the fourth quarter valued at $29,000. Wilmington Savings Fund Society FSB purchased a new stake in Qifu Technology in the 3rd quarter worth about $30,000. Advisors Preferred LLC bought a new stake in shares of Qifu Technology during the 4th quarter worth approximately $41,000. Global Retirement Partners LLC boosted its stake in shares of Qifu Technology by 80.2% during the fourth quarter. Global Retirement Partners LLC now owns 1,164 shares of the company’s stock valued at $45,000 after purchasing an additional 518 shares during the period. Finally, BOCHK Asset Management Ltd purchased a new stake in Qifu Technology in the 4th quarter valued at about $46,000. Hedge funds and other institutional investors own 74.81% of the company’s stock.

Qifu Technology Stock Performance

Shares of Qifu Technology stock opened at $36.37 on Friday. The company has a 50-day simple moving average of $42.05 and a two-hundred day simple moving average of $37.83. Qifu Technology, Inc. has a one year low of $17.76 and a one year high of $48.94. The company has a market capitalization of $5.73 billion, a PE ratio of 7.36, a P/E/G ratio of 0.32 and a beta of 0.53.

Qifu Technology (NASDAQ:QFIN) last announced its earnings results on Sunday, March 16th. The company reported $1.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $0.14. The company had revenue of $613.89 million for 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%. On average, equities analysts predict that Qifu Technology, Inc. will post 5.71 earnings per share 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. Shareholders 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 yield of 2.5%. This is a boost from Qifu Technology’s previous semi-annual dividend of $0.60. Qifu Technology’s payout ratio is currently 23.79%.

Wall Street Analysts Forecast Growth

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

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.