Nomura Asset Management Co. Ltd. Has $606,000 Stock Position in Qifu Technology, Inc. (NASDAQ:QFIN)

Nomura Asset Management Co. Ltd. cut its holdings in Qifu Technology, Inc. (NASDAQ:QFIN) by 19.0% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 15,800 shares of the company’s stock after selling 3,700 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Qifu Technology were worth $606,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of QFIN. Norges Bank bought a new stake in shares of Qifu Technology in the 4th quarter valued at $46,579,000. Candriam S.C.A. bought a new stake in Qifu Technology in the fourth quarter valued at $27,185,000. NS Partners Ltd acquired a new position in shares of Qifu Technology during the fourth quarter valued at about $17,177,000. Sei Investments Co. boosted its position in shares of Qifu Technology by 100.8% during the 4th quarter. Sei Investments Co. now owns 675,813 shares of the company’s stock worth $25,938,000 after purchasing an additional 339,234 shares in the last quarter. Finally, Artemis Investment Management LLP acquired a new stake in shares of Qifu Technology in the 4th quarter valued at about $12,493,000. 74.81% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Qifu Technology Trading Down 5.2 %

Shares of QFIN stock opened at $43.48 on Friday. The firm has a fifty day simple moving average of $42.73 and a two-hundred day simple moving average of $37.24. Qifu Technology, Inc. has a 12 month low of $17.76 and a 12 month high of $48.94. The firm has a market capitalization of $6.85 billion, a PE ratio of 8.80, a price-to-earnings-growth ratio of 0.32 and a beta of 0.53.

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

Qifu Technology Increases Dividend

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

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.