Qifu Technology, Inc. (NASDAQ:QFIN) Shares Sold by Dorsey Wright & Associates

Dorsey Wright & Associates trimmed its holdings in Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) by 21.9% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 102,906 shares of the company's stock after selling 28,906 shares during the period. Dorsey Wright & Associates owned 0.07% of Qifu Technology worth $3,950,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Jones Financial Companies Lllp purchased a new stake in shares of Qifu Technology in the fourth quarter valued at approximately $29,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Qifu Technology in the third quarter valued at about $30,000. Advisors Preferred LLC purchased a new stake in Qifu Technology during the fourth quarter worth about $41,000. Point72 DIFC Ltd acquired a new position in Qifu Technology during the third quarter worth about $43,000. Finally, Global Retirement Partners LLC lifted its position in shares of Qifu Technology by 80.2% during the 4th quarter. Global Retirement Partners LLC now owns 1,164 shares of the company's stock valued at $45,000 after acquiring an additional 518 shares during the period. Institutional investors and hedge funds own 74.81% of the company's stock.

Qifu Technology Price Performance

Qifu Technology stock traded down $1.81 during mid-day trading on Thursday, hitting $44.06. 830,258 shares of the company were exchanged, compared to its average volume of 1,434,937. Qifu Technology, Inc. has a 12-month low of $17.76 and a 12-month high of $48.94. The business's 50 day simple moving average is $42.62 and its two-hundred day simple moving average is $37.20. The company has a market capitalization of $6.94 billion, a P/E ratio of 8.92, a PEG ratio of 0.32 and a beta of 0.59.

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Qifu Technology (NASDAQ:QFIN - Get Free Report) last announced 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. 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 analyst estimates of $581.67 million. Equities research analysts predict that Qifu Technology, Inc. will post 5.71 earnings per share for the current year.

Qifu Technology Increases Dividend

The business also recently declared a semi-annual dividend, which will be paid on Monday, June 2nd. Shareholders of record on Wednesday, April 23rd will be paid a dividend of $0.70 per share. The ex-dividend date is Wednesday, April 23rd. This represents a yield of 2.5%. This is an increase from Qifu Technology's previous semi-annual dividend of $0.60. Qifu Technology's dividend payout ratio (DPR) is currently 23.79%.

Analysts Set New Price Targets

Separately, Bank of America lifted 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 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.