Qifu Technology (NASDAQ:QFIN) Hits New 1-Year High at $26.52

Shares of Qifu Technology, Inc. (NASDAQ:QFIN) reached a new 52-week high on Friday . The stock traded as high as $26.52 and last traded at $26.52, with a volume of 342 shares traded. The stock had previously closed at $26.14.

Qifu Technology Trading Up 1.5 %

The firm’s 50-day moving average price is $22.63 and its 200 day moving average price is $20.40. The company has a market cap of $4.28 billion, a price-to-earnings ratio of 6.77, a P/E/G ratio of 0.43 and a beta of 0.61.

Qifu Technology (NASDAQ:QFIN) last issued its 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 company had revenue of $572.44 million during the quarter, compared to the consensus estimate of $582.69 million. Analysts forecast that Qifu Technology, Inc. will post 4.94 earnings per share for the current fiscal year.

Qifu Technology Increases Dividend

The business also recently declared a semi-annual dividend, which will be paid on Friday, November 1st. Investors of record on Friday, September 27th will be given 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 of this dividend is Friday, September 27th. Qifu Technology’s dividend payout ratio is presently 29.53%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sompo Asset Management Co. Ltd. increased its position in shares of Qifu Technology by 2.4% during the 4th quarter. Sompo Asset Management Co. Ltd. now owns 38,500 shares of the company’s stock valued at $609,000 after purchasing an additional 890 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. boosted its position in shares of Qifu Technology by 1.1% in the second quarter. E Fund Management Hong Kong Co. Ltd. now owns 97,036 shares of the company’s stock valued at $1,915,000 after acquiring an additional 1,012 shares during the period. Parallel Advisors LLC grew its stake in Qifu Technology by 83.9% during the fourth quarter. Parallel Advisors LLC now owns 2,426 shares of the company’s stock valued at $38,000 after acquiring an additional 1,107 shares in the last quarter. Handelsinvest Investeringsforvaltning increased its holdings in Qifu Technology by 14.3% during the 1st quarter. Handelsinvest Investeringsforvaltning now owns 10,828 shares of the company’s stock worth $200,000 after acquiring an additional 1,353 shares during the period. Finally, Janiczek Wealth Management LLC lifted its stake 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 in the last quarter. 74.81% of the stock is currently owned by hedge funds and other institutional investors.

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.