Northern Trust Corp Has $27.50 Million Stock Position in Qifu Technology, Inc. (NASDAQ:QFIN)

Northern Trust Corp raised its holdings in Qifu Technology, Inc. (NASDAQ:QFIN) by 116.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 716,467 shares of the company’s stock after acquiring an additional 384,948 shares during the period. Northern Trust Corp’s holdings in Qifu Technology were worth $27,498,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Asset Management One Co. Ltd. grew 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 valued at $1,255,000 after buying an additional 13,170 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Qifu Technology in the 4th quarter valued at approximately $298,000. KBC Group NV grew its holdings in Qifu Technology by 279.6% in the 4th quarter. KBC Group NV now owns 35,381 shares of the company’s stock valued at $1,358,000 after buying an additional 26,061 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in Qifu Technology by 4,272.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 7,302 shares of the company’s stock valued at $280,000 after buying an additional 7,135 shares during the last quarter. Finally, New York State Common Retirement Fund grew its holdings in Qifu Technology by 30.8% in the 4th quarter. New York State Common Retirement Fund now owns 396,570 shares of the company’s stock valued at $15,220,000 after buying an additional 93,409 shares during the last quarter. Institutional investors and hedge funds own 74.81% of the company’s stock.

Qifu Technology Trading Down 1.0%

Shares of QFIN stock opened at $42.56 on Monday. The stock has a 50 day moving average of $41.21 and a two-hundred day moving average of $38.98. Qifu Technology, Inc. has a 12 month low of $18.13 and a 12 month high of $48.94. The company has a market capitalization of $6.71 billion, a P/E ratio of 8.62, a P/E/G 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 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.14. Qifu Technology had a return on equity of 24.39% and a net margin of 31.82%. The company had revenue of $613.89 million during the quarter, compared to the consensus estimate of $581.67 million. Sell-side analysts predict that Qifu Technology, Inc. will post 5.71 earnings per share for the current fiscal year.

Qifu Technology Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Monday, June 2nd. Investors of record on Wednesday, April 23rd will be given 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 an increase from Qifu Technology’s previous semi-annual dividend of $0.60. Qifu Technology’s dividend payout ratio (DPR) is 23.79%.

Analysts Set New Price Targets

Separately, Bank of America raised their price objective on 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.