Royal London Asset Management Ltd. Invests $3.91 Million in Qifu Technology, Inc. (NASDAQ:QFIN)

Royal London Asset Management Ltd. bought a new stake in shares of Qifu Technology, Inc. (NASDAQ:QFIN) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 101,900 shares of the company’s stock, valued at approximately $3,911,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its position in shares of Qifu Technology by 3.2% in the third quarter. Geode Capital Management LLC now owns 1,309,635 shares of the company’s stock valued at $38,866,000 after purchasing an additional 41,139 shares during the period. Natixis Advisors LLC purchased a new position in Qifu Technology in the 3rd quarter valued at about $654,000. Asset Management One Co. Ltd. boosted its holdings in Qifu Technology by 66.8% in the 4th quarter. Asset Management One Co. Ltd. now owns 32,873 shares of the company’s stock worth $1,255,000 after buying an additional 13,170 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in Qifu Technology during the 3rd quarter worth approximately $1,061,000. Finally, Point72 Hong Kong Ltd raised its holdings in shares of Qifu Technology by 443.0% during the third quarter. Point72 Hong Kong Ltd now owns 535,498 shares of the company’s stock valued at $15,963,000 after acquiring an additional 436,882 shares during the last quarter. Institutional investors and hedge funds own 74.81% of the company’s stock.

Qifu Technology Stock Performance

Shares of QFIN stock opened at $44.45 on Tuesday. Qifu Technology, Inc. has a fifty-two week low of $17.76 and a fifty-two week high of $48.81. The stock’s fifty day moving average is $41.54 and its two-hundred day moving average is $36.26. The firm has a market capitalization of $7.01 billion, a P/E ratio of 9.00, a PEG ratio of 0.32 and a beta of 0.59.

Qifu Technology (NASDAQ:QFIN) last issued its earnings results on Sunday, March 16th. The company reported $1.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 return on equity of 24.39% and a net margin of 31.82%. On average, equities analysts forecast 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 $0.70 dividend. This represents a dividend yield of 2.5%. The ex-dividend date of this dividend is Wednesday, April 23rd. This is a positive change from Qifu Technology’s previous semi-annual dividend of $0.60. Qifu Technology’s dividend payout ratio is 23.79%.

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.