Qifu Technology, Inc. (NASDAQ:QFIN) is OLP CAPITAL MANAGEMENT Ltd’s Largest Position

OLP CAPITAL MANAGEMENT Ltd reduced its position in shares of Qifu Technology, Inc. (NASDAQ:QFIN) by 0.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,577,023 shares of the company’s stock after selling 14,745 shares during the period. Qifu Technology comprises 36.8% of OLP CAPITAL MANAGEMENT Ltd’s portfolio, making the stock its largest position. OLP CAPITAL MANAGEMENT Ltd owned 4.81% of Qifu Technology worth $290,806,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in QFIN. Aspex Management HK Ltd raised its position in shares of Qifu Technology by 11.3% in the 4th quarter. Aspex Management HK Ltd now owns 6,371,808 shares of the company’s stock valued at $244,550,000 after purchasing an additional 648,088 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of Qifu Technology by 11.9% in the fourth quarter. AQR Capital Management LLC now owns 2,432,131 shares of the company’s stock worth $93,345,000 after buying an additional 258,586 shares during the last quarter. Alliancebernstein L.P. acquired a new stake in Qifu Technology in the fourth quarter valued at $92,150,000. Arrowstreet Capital Limited Partnership boosted its stake in Qifu Technology by 10.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,478,319 shares of the company’s stock valued at $56,738,000 after acquiring an additional 134,326 shares during the last quarter. Finally, Causeway Capital Management LLC grew its holdings in Qifu Technology by 0.3% during the 4th quarter. Causeway Capital Management LLC now owns 1,377,475 shares of the company’s stock worth $52,867,000 after acquiring an additional 4,137 shares in the last quarter. 74.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Bank of America upped their target price on shares of Qifu Technology from $50.66 to $52.70 and gave the company a “buy” rating in a research note on Wednesday, March 26th.

Qifu Technology Stock Performance

NASDAQ QFIN opened at $45.45 on Tuesday. Qifu Technology, Inc. has a one year low of $18.13 and a one year high of $48.94. The company has a 50-day simple moving average of $41.25 and a 200-day simple moving average of $39.05. The firm has a market capitalization of $7.16 billion, a PE ratio of 9.20, a price-to-earnings-growth ratio of 0.32 and a beta of 0.53.

Qifu Technology (NASDAQ:QFIN) last issued its earnings results on Sunday, March 16th. The company reported $1.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.68 by $0.14. The firm had revenue of $613.89 million for the quarter, compared to analysts’ expectations of $581.67 million. Qifu Technology had a net margin of 31.82% and a return on equity of 24.39%. Equities analysts forecast that Qifu Technology, Inc. will post 5.71 earnings per share for the current year.

Qifu Technology Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Monday, June 2nd. Investors of record on Wednesday, April 23rd will be given a dividend of $0.70 per share. The ex-dividend date is Wednesday, April 23rd. This represents a yield of 2.5%. This is a positive change from Qifu Technology’s previous semi-annual dividend of $0.60. Qifu Technology’s payout ratio is currently 23.79%.

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.