Axa S.A. Makes New Investment in Qifu Technology, Inc. (NASDAQ:QFIN)

Axa S.A. acquired a new stake in shares of Qifu Technology, Inc. (NASDAQ:QFIN) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 67,271 shares of the company’s stock, valued at approximately $1,327,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Acadian Asset Management LLC boosted its holdings in Qifu Technology by 1,789.1% in the second quarter. Acadian Asset Management LLC now owns 1,240,489 shares of the company’s stock valued at $24,450,000 after acquiring an additional 1,174,824 shares during the last quarter. Principal Financial Group Inc. purchased a new position in shares of Qifu Technology in the 1st quarter worth about $19,995,000. Prudential PLC lifted its stake in shares of Qifu Technology by 634.1% in the 2nd quarter. Prudential PLC now owns 956,998 shares of the company’s stock valued at $18,882,000 after purchasing an additional 826,631 shares in the last quarter. Marshall Wace LLP grew its holdings in shares of Qifu Technology by 557.5% during the 2nd quarter. Marshall Wace LLP now owns 776,457 shares of the company’s stock worth $15,319,000 after purchasing an additional 658,366 shares during the period. Finally, Panagora Asset Management Inc. acquired a new stake in Qifu Technology during the 2nd quarter worth approximately $8,639,000. Institutional investors and hedge funds own 74.81% of the company’s stock.

Qifu Technology Stock Performance

NASDAQ QFIN opened at $30.86 on Wednesday. The firm has a market capitalization of $4.98 billion, a price-to-earnings ratio of 7.99, a PEG ratio of 0.47 and a beta of 0.61. Qifu Technology, Inc. has a one year low of $13.68 and a one year high of $31.82. The company’s 50 day moving average price is $23.76 and its 200 day moving average price is $21.03.

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

Qifu Technology Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, September 27th will be paid a dividend of $0.60 per share. This represents a dividend yield of 4.7%. The ex-dividend date of this dividend is Friday, September 27th. This is a boost from Qifu Technology’s previous semi-annual dividend of $0.57. Qifu Technology’s payout ratio is currently 29.53%.

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.