Qifu Technology, Inc. (NASDAQ:QFIN) is Krane Funds Advisors LLC’s 7th Largest Position

Krane Funds Advisors LLC cut its position in Qifu Technology, Inc. (NASDAQ:QFIN) by 4.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 5,651,303 shares of the company’s stock after selling 246,098 shares during the quarter. Qifu Technology accounts for about 8.9% of Krane Funds Advisors LLC’s holdings, making the stock its 7th largest holding. Krane Funds Advisors LLC’s holdings in Qifu Technology were worth $216,897,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Polymer Capital Management HK LTD raised its holdings in shares of Qifu Technology by 167.7% in the 4th quarter. Polymer Capital Management HK LTD now owns 386,863 shares of the company’s stock valued at $14,848,000 after acquiring an additional 242,352 shares in the last quarter. Russell Investments Group Ltd. lifted its position in Qifu Technology by 14.0% during the fourth quarter. Russell Investments Group Ltd. now owns 956,705 shares of the company’s stock valued at $36,286,000 after purchasing an additional 117,256 shares during the last quarter. Aviva PLC grew its stake in Qifu Technology by 2.3% in the 4th quarter. Aviva PLC now owns 80,000 shares of the company’s stock worth $3,070,000 after buying an additional 1,800 shares in the last quarter. Wells Fargo & Company MN increased its holdings in shares of Qifu Technology by 1,392.0% in 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. Finally, Resona Asset Management Co. Ltd. purchased a new stake in shares of Qifu Technology during the 4th quarter valued at $954,000. 74.81% of the stock is owned by institutional investors.

Qifu Technology Price Performance

NASDAQ:QFIN opened at $38.25 on Monday. Qifu Technology, Inc. has a 1-year low of $17.76 and a 1-year high of $48.94. The business has a 50 day moving average of $42.69 and a 200 day moving average of $37.51. The company has a market capitalization of $6.03 billion, a price-to-earnings ratio of 7.74, a PEG ratio of 0.32 and a beta of 0.53.

Qifu Technology (NASDAQ:QFIN) last announced its quarterly earnings data on Sunday, March 16th. The company reported $1.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.68 by $0.14. Qifu Technology had a net margin of 31.82% and a return on equity of 24.39%. The company had revenue of $613.89 million during the quarter, compared to analysts’ expectations of $581.67 million. As a group, sell-side analysts anticipate that Qifu Technology, Inc. will post 5.71 EPS for the current year.

Qifu Technology Increases Dividend

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

Wall Street Analysts Forecast Growth

Separately, Bank of America increased their target price 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 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.