ExodusPoint Capital Management LP Buys Shares of 52,832 Qifu Technology, Inc. (NASDAQ:QFIN)

ExodusPoint Capital Management LP purchased a new position in Qifu Technology, Inc. (NASDAQ:QFIN) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 52,832 shares of the company’s stock, valued at approximately $2,028,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Charles Schwab Investment Management Inc. increased its holdings in Qifu Technology by 5.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 136,368 shares of the company’s stock worth $4,065,000 after buying an additional 7,196 shares in the last quarter. Point72 DIFC Ltd bought a new stake in shares of Qifu Technology in the third quarter worth approximately $43,000. Quantinno Capital Management LP grew its stake in shares of Qifu Technology by 9.2% in the third quarter. Quantinno Capital Management LP now owns 16,456 shares of the company’s stock worth $491,000 after acquiring an additional 1,380 shares during the period. State Street Corp raised its holdings in shares of Qifu Technology by 5.8% during the third quarter. State Street Corp now owns 2,324,831 shares of the company’s stock valued at $70,637,000 after purchasing an additional 128,381 shares during the last quarter. Finally, Wolverine Trading LLC bought a new position in Qifu Technology during the third quarter valued at approximately $253,000. 74.81% of the stock is owned by institutional investors.

Qifu Technology Stock Performance

QFIN stock opened at $35.86 on Wednesday. The company has a market cap of $5.65 billion, a price-to-earnings ratio of 7.26, a P/E/G ratio of 0.32 and a beta of 0.53. The business’s 50-day moving average is $42.38 and its two-hundred day moving average is $37.63. 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 firm had revenue of $613.89 million for the quarter, compared to analysts’ expectations of $581.67 million. Qifu Technology had a net margin of 31.82% and a return on equity of 24.39%. Equities analysts predict that Qifu Technology, Inc. will post 5.71 earnings per share for the current year.

Qifu Technology Increases Dividend

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

Analysts Set New Price Targets

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