Qifu Technology, Inc. (NASDAQ:QFIN) Shares Acquired by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of Qifu Technology, Inc. (NASDAQ:QFIN) by 13.9% in the 4th quarter, HoldingsChannel reports. The firm owned 243,125 shares of the company’s stock after purchasing an additional 29,618 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Qifu Technology were worth $9,331,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of QFIN. Jones Financial Companies Lllp purchased a new position in shares of Qifu Technology in the 4th quarter valued at about $29,000. Wilmington Savings Fund Society FSB purchased a new position in Qifu Technology in the third quarter worth approximately $30,000. Advisors Preferred LLC purchased a new position in Qifu Technology in the fourth quarter worth approximately $41,000. Point72 DIFC Ltd acquired a new position in Qifu Technology during the 3rd quarter worth approximately $43,000. Finally, Global Retirement Partners LLC increased its position in shares of Qifu Technology by 80.2% in the 4th 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 last quarter. 74.81% of the stock is owned by institutional investors and hedge funds.

Qifu Technology Stock Down 5.6 %

QFIN stock opened at $45.43 on Friday. The business has a 50 day moving average price of $42.25 and a 200 day moving average price of $36.78. The stock has a market cap of $7.16 billion, a price-to-earnings ratio of 9.20, a PEG ratio of 0.32 and a beta of 0.59. Qifu Technology, Inc. has a fifty-two week low of $17.76 and a fifty-two week high of $48.94.

Qifu Technology (NASDAQ:QFIN) last issued its quarterly earnings data on Sunday, March 16th. The company reported $1.82 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.14. The business had revenue of $613.89 million during the quarter, compared to the consensus estimate of $581.67 million. Qifu Technology had a net margin of 31.82% and a return on equity of 24.39%. 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 disclosed a semi-annual dividend, which will be paid on Monday, June 2nd. Shareholders of record on Wednesday, April 23rd will be issued a dividend of $0.70 per share. This is a positive change 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 presently 23.79%.

Analyst Upgrades and Downgrades

Separately, Bank of America lifted their price objective on shares of Qifu Technology from $50.66 to $52.70 and gave the stock a “buy” rating in a research report on Wednesday.

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.