American Century Companies Inc. Grows Stock Position in Qifu Technology, Inc. (NASDAQ:QFIN)

American Century Companies Inc. raised its position in Qifu Technology, Inc. (NASDAQ:QFIN) by 12.8% in the 4th quarter, Holdings Channel reports. The fund owned 553,797 shares of the company’s stock after purchasing an additional 62,837 shares during the period. American Century Companies Inc.’s holdings in Qifu Technology were worth $21,255,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Jones Financial Companies Lllp purchased a new position in shares of Qifu Technology in the fourth quarter valued at $29,000. Wilmington Savings Fund Society FSB acquired a new position in Qifu Technology in the 3rd quarter worth $30,000. Advisors Preferred LLC purchased a new position in Qifu Technology in the 4th quarter valued at about $41,000. Global Retirement Partners LLC grew its stake in shares of Qifu Technology by 80.2% during the fourth quarter. Global Retirement Partners LLC now owns 1,164 shares of the company’s stock valued at $45,000 after acquiring an additional 518 shares in the last quarter. Finally, BOCHK Asset Management Ltd purchased a new stake in shares of Qifu Technology during the fourth quarter worth about $46,000. Hedge funds and other institutional investors own 74.81% of the company’s stock.

Qifu Technology Price Performance

NASDAQ QFIN opened at $45.43 on Monday. The company’s fifty day moving average price is $42.25 and its two-hundred day moving average price is $36.86. The company has a market capitalization of $7.16 billion, a price-to-earnings ratio of 9.20, a price-to-earnings-growth ratio of 0.32 and a beta of 0.59. Qifu Technology, Inc. has a 12 month low of $17.76 and a 12 month high of $48.94.

Qifu Technology (NASDAQ:QFIN) last posted its quarterly earnings results 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 business had revenue of $613.89 million during the quarter, compared to the consensus estimate of $581.67 million. As a group, 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. Investors of record on Wednesday, April 23rd will be paid a dividend of $0.70 per share. The ex-dividend date is Wednesday, April 23rd. This is a boost from Qifu Technology’s previous semi-annual dividend of $0.60. This represents a yield of 2.5%. Qifu Technology’s dividend payout ratio (DPR) is 23.79%.

Analyst Upgrades and Downgrades

Separately, Bank of America increased their price target on Qifu Technology from $50.66 to $52.70 and gave the company a “buy” rating in a 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.