Qifu Technology (NASDAQ:QFIN) Hits New 12-Month High at $32.35

Qifu Technology, Inc. (NASDAQ:QFIN)’s share price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $32.35 and last traded at $32.35, with a volume of 30181 shares. The stock had previously closed at $30.86.

Qifu Technology Stock Up 5.3 %

The business’s fifty day moving average price is $24.00 and its 200 day moving average price is $21.11. The firm has a market capitalization of $5.24 billion, a PE ratio of 7.99, a P/E/G ratio of 0.51 and a beta of 0.62.

Qifu Technology (NASDAQ:QFIN) last released its earnings results on Tuesday, August 13th. The company reported $1.22 EPS for the quarter, topping the consensus estimate of $0.99 by $0.23. Qifu Technology had a net margin of 28.06% and a return on equity of 21.82%. The firm had revenue of $572.44 million during the quarter, compared to analysts’ expectations of $582.69 million. As a group, sell-side analysts forecast that Qifu Technology, Inc. will post 4.94 earnings per share for the current fiscal year.

Qifu Technology Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Friday, November 1st. Investors of record on Friday, September 27th will be paid a $0.60 dividend. This is a positive change from Qifu Technology’s previous semi-annual dividend of $0.57. This represents a yield of 4.7%. The ex-dividend date is Friday, September 27th. Qifu Technology’s dividend payout ratio is presently 30.57%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in Qifu Technology by 0.7% during the first quarter. Vanguard Group Inc. now owns 4,651,879 shares of the company’s stock worth $85,734,000 after purchasing an additional 30,522 shares during the last quarter. Tiger Pacific Capital LP increased its holdings in shares of Qifu Technology by 10.0% during the 4th quarter. Tiger Pacific Capital LP now owns 2,870,710 shares of the company’s stock worth $45,415,000 after buying an additional 260,306 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Qifu Technology by 5.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,193,893 shares of the company’s stock worth $43,262,000 after buying an additional 109,809 shares during the last quarter. AQR Capital Management LLC purchased a new position in shares of Qifu Technology in the 2nd quarter worth $25,560,000. Finally, Acadian Asset Management LLC boosted its holdings in Qifu Technology by 1,789.1% in the second quarter. Acadian Asset Management LLC now owns 1,240,489 shares of the company’s stock valued at $24,450,000 after acquiring an additional 1,174,824 shares during the last quarter. 74.81% of the stock is currently owned by hedge funds and other institutional investors.

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.