Qifu Technology, Inc. (NASDAQ:QFIN) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System reduced its position in shares of Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) by 6.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 211,731 shares of the company's stock after selling 14,571 shares during the quarter. California Public Employees Retirement System owned 0.13% of Qifu Technology worth $8,126,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Jones Financial Companies Lllp acquired a new position in Qifu Technology during the fourth quarter worth $29,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Qifu Technology during the third quarter worth about $30,000. Advisors Preferred LLC acquired a new position in shares of Qifu Technology during the 4th quarter worth about $41,000. Global Retirement Partners LLC lifted its stake in Qifu Technology by 80.2% in the 4th quarter. Global Retirement Partners LLC now owns 1,164 shares of the company's stock valued at $45,000 after buying an additional 518 shares in the last quarter. Finally, BOCHK Asset Management Ltd acquired a new stake in Qifu Technology in the 4th quarter worth about $46,000. 74.81% of the stock is currently owned by institutional investors and hedge funds.

Qifu Technology Trading Down 1.0 %

QFIN stock traded down $0.36 during midday trading on Friday, reaching $36.37. The stock had a trading volume of 3,872,213 shares, compared to its average volume of 1,502,127. Qifu Technology, Inc. has a 52-week low of $17.76 and a 52-week high of $48.94. The company's fifty day simple moving average is $42.05 and its 200 day simple moving average is $37.83. The company has a market cap of $5.73 billion, a price-to-earnings ratio of 7.36, a price-to-earnings-growth ratio of 0.32 and a beta of 0.53.

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Qifu Technology (NASDAQ:QFIN - Get Free Report) last posted its quarterly earnings results on Sunday, March 16th. The company reported $1.82 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.14. Qifu Technology had a net margin of 31.82% and a return on equity of 24.39%. The firm had revenue of $613.89 million for the quarter, compared to the consensus estimate of $581.67 million. Sell-side analysts predict that Qifu Technology, Inc. will post 5.71 EPS for the current 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 dividend of $0.70 per share. This is a boost from Qifu Technology's previous semi-annual dividend of $0.60. This represents a dividend yield of 2.5%. The ex-dividend date is Wednesday, April 23rd. Qifu Technology's payout ratio is currently 23.79%.

Analysts Set New Price Targets

Separately, Bank of America increased their target price on Qifu Technology from $50.66 to $52.70 and gave the company a "buy" rating in a report on Wednesday, March 26th.

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.