Sompo Asset Management Co. Ltd. Purchases 7,080 Shares of Qifu Technology, Inc. (NASDAQ:QFIN)

Sompo Asset Management Co. Ltd. grew its holdings in Qifu Technology, Inc. (NASDAQ:QFIN) by 25.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 34,470 shares of the company’s stock after purchasing an additional 7,080 shares during the quarter. Sompo Asset Management Co. Ltd.’s holdings in Qifu Technology were worth $680,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. E Fund Management Hong Kong Co. Ltd. increased its position in Qifu Technology by 1.1% in the 2nd quarter. E Fund Management Hong Kong Co. Ltd. now owns 97,036 shares of the company’s stock worth $1,915,000 after buying an additional 1,012 shares during the period. Parallel Advisors LLC raised its stake in Qifu Technology by 83.9% during the 4th quarter. Parallel Advisors LLC now owns 2,426 shares of the company’s stock valued at $38,000 after purchasing an additional 1,107 shares during the last quarter. Handelsinvest Investeringsforvaltning boosted its holdings in Qifu Technology by 14.3% in the 1st quarter. Handelsinvest Investeringsforvaltning now owns 10,828 shares of the company’s stock valued at $200,000 after purchasing an additional 1,353 shares during the period. Janiczek Wealth Management LLC grew its position in Qifu Technology by 131.4% in the 1st quarter. Janiczek Wealth Management LLC now owns 2,386 shares of the company’s stock worth $44,000 after purchasing an additional 1,355 shares during the last quarter. Finally, Blue Trust Inc. increased its holdings in shares of Qifu Technology by 598.4% during the 2nd quarter. Blue Trust Inc. now owns 1,732 shares of the company’s stock worth $32,000 after purchasing an additional 1,484 shares during the period. Institutional investors and hedge funds own 74.81% of the company’s stock.

Qifu Technology Stock Performance

Shares of QFIN opened at $25.76 on Friday. The company has a 50-day simple moving average of $22.74 and a 200-day simple moving average of $20.47. Qifu Technology, Inc. has a 52 week low of $13.68 and a 52 week high of $26.50. The firm has a market capitalization of $4.16 billion, a P/E ratio of 6.67, a P/E/G ratio of 0.43 and a beta of 0.61.

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

Qifu Technology Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, September 27th will be given a dividend of $0.60 per share. This is a positive change from Qifu Technology’s previous semi-annual dividend of $0.57. This represents a dividend yield of 4.7%. The ex-dividend date is Friday, September 27th. Qifu Technology’s payout ratio is 29.53%.

About Qifu Technology

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.