KBC Group NV Increases Stake in Qifu Technology, Inc.

KBC Group NV has significantly increased its investment in Qifu Technology, Inc. (NASDAQ:QFIN) by 279.6% during the fourth quarter, as disclosed in its latest 13F filing with the Securities and Exchange Commission. Following this acquisition, the fund now holds 35,381 shares of Qifu Technology after purchasing an additional 26,061 shares during the quarter. The value of KBC Group NV's holdings in the company stands at approximately $1.36 million based on the most recent data available from the SEC.

In addition to KBC Group NV, several other large investors have also made adjustments to their positions in Qifu Technology stock. For instance, State Street Corp increased its stake by 5.8% in the third quarter, bringing its total ownership to 2,324,831 shares, valued at $70.64 million, after adding 128,381 shares in the last quarter. Similarly, Robeco Institutional Asset Management B.V. raised its holdings by 66.9%, now owning 1,369,278 shares valued at $40.82 million after acquiring an additional 548,678 shares.

Geode Capital Management LLC expanded its shares by 3.2%, totaling 1,309,635 shares worth $38.87 million, following a purchase of 41,139 shares. Furthermore, Connor Clark & Lunn Investment Management Ltd. significantly increased its stake by 148.2%, owning 820,343 shares valued at $24.45 million after adding 489,865 shares. Swedbank AB also grew its investment by 156.0%, owning 754,300 shares worth $22.49 million after acquiring 459,700 shares during the same time frame. Overall, institutional investors and hedge funds now control 74.81% of Qifu Technology's stock.

Analysts Update Stock Ratings

In related news, analysts at Citigroup recently raised their price target for Qifu Technology, increasing it from $31.44 to $37.50. They have assigned the company a “buy” rating, reflecting their positive outlook on the stock's performance.

Qifu Technology Stock Overview

As of the most recent trading day, QFIN stock opened at $39.90. The company's fifty-day moving average is $38.01, while the two-hundred-day moving average sits at $31.06. Over the past year, Qifu Technology's stock has experienced a low of $13.71 and a high of $43.20. The stock currently has a market capitalization of $6.29 billion, a price-to-earnings ratio of 8.08, a price-to-earnings-growth ratio of 0.31, and a beta of 0.64.

About Qifu Technology

Qifu Technology, Inc., through its subsidiaries, operates the 360 Jietiao brand in the People's Republic of China. The company provides a credit technology platform that connects borrowers with financial institutions. Their offerings include customer acquisition, credit screening, risk assessment, and loan facilitation services to financial institutions.

KBC, Qifu, Investors