Qifu Technology, Inc. (NASDAQ:QFIN) Shares Sold by FIL Ltd

FIL Ltd reduced its stake in shares of Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) by 42.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 337,343 shares of the company's stock after selling 253,023 shares during the quarter. FIL Ltd owned 0.21% of Qifu Technology worth $12,947,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. increased its holdings in shares of Qifu Technology by 5.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 136,368 shares of the company's stock valued at $4,065,000 after purchasing an additional 7,196 shares in the last quarter. Quantinno Capital Management LP raised its position in shares of Qifu Technology by 9.2% in the third quarter. Quantinno Capital Management LP now owns 16,456 shares of the company's stock worth $491,000 after acquiring an additional 1,380 shares during the period. State Street Corp boosted its stake in shares of Qifu Technology by 5.8% during the 3rd quarter. State Street Corp now owns 2,324,831 shares of the company's stock worth $70,637,000 after acquiring an additional 128,381 shares in the last quarter. Wolverine Trading LLC acquired a new stake in shares of Qifu Technology during the 3rd quarter valued at about $253,000. Finally, Wellington Management Group LLP increased its stake in shares of Qifu Technology by 238.8% in the 3rd quarter. Wellington Management Group LLP now owns 229,908 shares of the company's stock valued at $6,854,000 after purchasing an additional 162,043 shares in the last quarter. 74.81% of the stock is owned by institutional investors and hedge funds.

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Qifu Technology Trading Up 0.4 %

QFIN traded up $0.14 during midday trading on Tuesday, hitting $38.77. 2,949,771 shares of the company traded hands, compared to its average volume of 1,522,242. The business 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 52-week low of $17.76 and a 52-week high of $48.94. The company has a market capitalization of $6.11 billion, a price-to-earnings ratio of 7.85, a PEG ratio of 0.32 and a beta of 0.53.

Qifu Technology (NASDAQ:QFIN - Get Free Report) last posted its quarterly earnings data on Sunday, March 16th. The company reported $1.82 EPS for the quarter, beating the consensus estimate of $1.68 by $0.14. Qifu Technology had a return on equity of 24.39% and a net margin of 31.82%. The firm had revenue of $613.89 million during the quarter, compared to the consensus estimate of $581.67 million. Equities research analysts anticipate that Qifu Technology, Inc. will post 5.71 earnings per share for the current year.

Qifu Technology Increases Dividend

The firm also recently declared 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 is a positive change from Qifu Technology's previous semi-annual dividend of $0.60. This represents a yield of 2.5%. Qifu Technology's payout ratio is presently 23.79%.

Analyst Ratings Changes

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

About Qifu Technology

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.