Federated Hermes Inc. Has $11.48 Million Position in Qifu Technology, Inc. (NASDAQ:QFIN)

Federated Hermes Inc. trimmed its holdings in shares of Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) by 12.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 299,055 shares of the company's stock after selling 43,389 shares during the quarter. Federated Hermes Inc. owned 0.19% of Qifu Technology worth $11,478,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in QFIN. Geode Capital Management LLC boosted its stake in shares of Qifu Technology by 3.2% in the third quarter. Geode Capital Management LLC now owns 1,309,635 shares of the company's stock valued at $38,866,000 after purchasing an additional 41,139 shares during the period. Asset Management One Co. Ltd. raised its stake in shares of Qifu Technology by 66.8% in the fourth quarter. Asset Management One Co. Ltd. now owns 32,873 shares of the company's stock valued at $1,255,000 after acquiring an additional 13,170 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in Qifu Technology during the 3rd quarter worth $1,061,000. Raymond James Financial Inc. purchased a new stake in Qifu Technology during the 4th quarter worth about $298,000. Finally, KBC Group NV raised its position in Qifu Technology by 279.6% in the 4th quarter. KBC Group NV now owns 35,381 shares of the company's stock valued at $1,358,000 after purchasing an additional 26,061 shares in the last quarter. Hedge funds and other institutional investors own 74.81% of the company's stock.

Wall Street Analyst Weigh In

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

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Qifu Technology Trading Up 0.8 %

Shares of Qifu Technology stock traded up $0.31 during trading hours on Tuesday, reaching $38.94. The stock had a trading volume of 866,990 shares, compared to its average volume of 1,785,611. The firm has a market capitalization of $6.14 billion, a price-to-earnings ratio of 7.88, a P/E/G ratio of 0.32 and a beta of 0.53. The firm has a 50 day simple moving average of $42.02 and a two-hundred day simple moving average of $37.96. Qifu Technology, Inc. has a 1 year low of $17.76 and a 1 year high of $48.94.

Qifu Technology (NASDAQ:QFIN - Get Free Report) last released its 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 company had revenue of $613.89 million during the quarter, compared to the consensus estimate of $581.67 million. Sell-side analysts forecast that Qifu Technology, Inc. will post 5.71 EPS for the current year.

Qifu Technology Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Monday, June 2nd. Investors of record on Wednesday, April 23rd will be given a dividend of $0.70 per share. The ex-dividend date is Wednesday, April 23rd. This represents a yield of 2.5%. This is a positive change from Qifu Technology's previous semi-annual dividend of $0.60. Qifu Technology's payout ratio 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.