Federated Hermes Inc. Purchases Shares of 374,023 Qifu Technology, Inc. (NASDAQ:QFIN)

Federated Hermes Inc. purchased a new stake in Qifu Technology, Inc. (NASDAQ:QFIN) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 374,023 shares of the company’s stock, valued at approximately $7,379,000. Federated Hermes Inc. owned 0.23% of Qifu Technology as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. DekaBank Deutsche Girozentrale increased its position in Qifu Technology by 104.6% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 20,015 shares of the company’s stock valued at $395,000 after acquiring an additional 10,231 shares during the period. American Century Companies Inc. increased its position in Qifu Technology by 5.0% in the 2nd quarter. American Century Companies Inc. now owns 499,507 shares of the company’s stock valued at $9,855,000 after acquiring an additional 23,565 shares during the period. Prudential PLC increased its position in shares of Qifu Technology by 634.1% during the second quarter. Prudential PLC now owns 956,998 shares of the company’s stock worth $18,882,000 after buying an additional 826,631 shares during the period. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Qifu Technology during the second quarter worth $31,000. Finally, Acadian Asset Management LLC increased its position in shares of Qifu Technology by 1,789.1% during the second quarter. Acadian Asset Management LLC now owns 1,240,489 shares of the company’s stock worth $24,450,000 after buying an additional 1,174,824 shares during the period. 74.81% of the stock is currently owned by institutional investors and hedge funds.

Qifu Technology Stock Up 0.9 %

QFIN opened at $25.15 on Wednesday. Qifu Technology, Inc. has a twelve month low of $13.68 and a twelve month high of $26.50. The company has a fifty day moving average of $22.41 and a 200-day moving average of $20.32. The stock has a market cap of $4.06 billion, a PE ratio of 6.52, a price-to-earnings-growth ratio of 0.43 and a beta of 0.61.

Qifu Technology (NASDAQ:QFIN) last posted its quarterly earnings data on Tuesday, August 13th. The company reported $1.22 earnings per share for the quarter, topping 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 company had revenue of $572.44 million during the quarter, compared to analysts’ expectations of $582.69 million. Sell-side analysts anticipate that Qifu Technology, Inc. will post 4.94 EPS 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. Shareholders of record on Friday, September 27th will be issued a $0.60 dividend. This represents a yield of 4.7%. This is a boost from Qifu Technology’s previous semi-annual dividend of $0.57. The ex-dividend date of this dividend is Friday, September 27th. Qifu Technology’s dividend payout ratio (DPR) is presently 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.