Swedbank AB Raises Position in Qifu Technology, Inc. (NASDAQ:QFIN)

Swedbank AB grew its holdings in shares of Qifu Technology, Inc. (NASDAQ:QFIN) by 156.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 754,300 shares of the company’s stock after purchasing an additional 459,700 shares during the quarter. Swedbank AB’s holdings in Qifu Technology were worth $22,486,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Qifu Technology during the 2nd quarter worth $31,000. Blue Trust Inc. boosted its position in Qifu Technology by 598.4% in the 2nd quarter. Blue Trust Inc. now owns 1,732 shares of the company’s stock valued at $32,000 after buying an additional 1,484 shares during the last quarter. USA Financial Formulas purchased a new position in Qifu Technology in the 3rd quarter valued at about $41,000. Janiczek Wealth Management LLC boosted 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 valued at $44,000 after buying an additional 1,355 shares during the last quarter. Finally, Signaturefd LLC lifted its position in shares of Qifu Technology by 67.3% during the second quarter. Signaturefd LLC now owns 7,283 shares of the company’s stock worth $144,000 after purchasing an additional 2,931 shares during the last quarter. Hedge funds and other institutional investors own 74.81% of the company’s stock.

Qifu Technology Stock Performance

Shares of QFIN stock opened at $32.50 on Thursday. Qifu Technology, Inc. has a one year low of $13.68 and a one year high of $33.72. The company’s 50-day simple moving average is $26.81 and its 200-day simple moving average is $22.14. The stock has a market capitalization of $5.25 billion, a price-to-earnings ratio of 8.42, a PEG ratio of 0.43 and a beta of 0.62.

Qifu Technology (NASDAQ:QFIN) last issued its earnings results on Tuesday, August 13th. The company reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $582.69 million. As a group, research analysts forecast that Qifu Technology, Inc. will post 5.08 EPS for the current year.

Qifu Technology Increases Dividend

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

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.