Diversify Advisory Services LLC Makes New $241,000 Investment in Qifu Technology, Inc. (NASDAQ:QFIN)

Diversify Advisory Services LLC acquired a new stake in shares of Qifu Technology, Inc. (NASDAQ:QFIN) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 8,073 shares of the company’s stock, valued at approximately $241,000.

Several other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of Qifu Technology by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 4,651,879 shares of the company’s stock worth $85,734,000 after acquiring an additional 30,522 shares during the period. Dimensional Fund Advisors LP lifted its position in Qifu Technology by 5.3% in the second quarter. Dimensional Fund Advisors LP now owns 2,193,893 shares of the company’s stock worth $43,262,000 after purchasing an additional 109,809 shares during the period. AQR Capital Management LLC acquired a new stake in Qifu Technology during the second quarter worth $25,560,000. Acadian Asset Management LLC increased its holdings in Qifu Technology by 1,789.1% in the 2nd quarter. Acadian Asset Management LLC now owns 1,240,489 shares of the company’s stock valued at $24,450,000 after buying an additional 1,174,824 shares during the period. Finally, Millennium Management LLC increased its holdings in Qifu Technology by 35.5% in the 2nd quarter. Millennium Management LLC now owns 1,198,882 shares of the company’s stock valued at $23,654,000 after buying an additional 314,323 shares during the period. Institutional investors own 74.81% of the company’s stock.

Qifu Technology Stock Performance

NASDAQ:QFIN opened at $32.58 on Friday. The company has a 50-day moving average of $29.16 and a 200-day moving average of $23.21. Qifu Technology, Inc. has a 52 week low of $13.71 and a 52 week high of $35.23. The company has a market capitalization of $5.26 billion, a price-to-earnings ratio of 7.83, a PEG ratio of 0.46 and a beta of 0.62.

Qifu Technology (NASDAQ:QFIN) last announced its quarterly earnings results on Tuesday, August 13th. The company reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.23. Qifu Technology had a net margin of 28.06% and a return on equity of 21.82%. The firm had revenue of $572.44 million during the quarter, compared to analysts’ expectations of $582.69 million. Sell-side analysts forecast that Qifu Technology, Inc. will post 5.08 EPS for the current year.

Qifu Technology Increases Dividend

The business also recently declared a semi-annual dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, September 27th were given 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 was Friday, September 27th. Qifu Technology’s dividend payout ratio is 28.37%.

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.