Invesco Ltd. Sells 13,774 Shares of Qifu Technology, Inc. (NASDAQ:QFIN)

Invesco Ltd. lessened its holdings in shares of Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) by 6.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 199,668 shares of the company's stock after selling 13,774 shares during the period. Invesco Ltd. owned about 0.13% of Qifu Technology worth $7,663,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Wrapmanager Inc. boosted its position in shares of Qifu Technology by 4.1% during the 4th quarter. Wrapmanager Inc. now owns 7,554 shares of the company's stock worth $290,000 after acquiring an additional 296 shares in the last quarter. Global Retirement Partners LLC boosted its stake in Qifu Technology by 80.2% in the fourth 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. DGS Capital Management LLC grew its holdings in shares of Qifu Technology by 5.9% during the 4th quarter. DGS Capital Management LLC now owns 11,413 shares of the company's stock valued at $438,000 after purchasing an additional 631 shares during the last quarter. Jones Financial Companies Lllp acquired a new stake in Qifu Technology in the fourth quarter valued at approximately $29,000. Finally, Lester Murray Antman dba SimplyRich increased its holdings in shares of Qifu Technology by 5.7% during the fourth quarter. Lester Murray Antman dba SimplyRich now owns 14,288 shares of the company's stock worth $548,000 after buying an additional 768 shares in the last quarter. 74.81% of the stock is currently owned by institutional investors and hedge funds.

Qifu Technology Stock Up 0.1 %

Shares of QFIN stock traded up $0.03 during trading hours on Tuesday, hitting $40.52. 569,212 shares of the company's stock traded hands, compared to its average volume of 1,546,797. Qifu Technology, Inc. has a 12 month low of $18.13 and a 12 month high of $48.94. The stock has a market cap of $6.39 billion, a PE ratio of 8.20, a price-to-earnings-growth ratio of 0.32 and a beta of 0.53. The stock's 50 day simple moving average is $40.96 and its 200 day simple moving average is $38.40.

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, beating 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 business had revenue of $613.89 million during the quarter, compared to the consensus estimate of $581.67 million. As a group, equities research analysts expect that Qifu Technology, Inc. will post 5.71 EPS for the current fiscal year.

Qifu Technology Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Monday, June 2nd. Shareholders of record on Wednesday, April 23rd will be paid a $0.70 dividend. This represents a yield of 2.5%. This is a boost from Qifu Technology's previous semi-annual dividend of $0.60. The ex-dividend date of this dividend is Wednesday, April 23rd. Qifu Technology's payout ratio is presently 23.79%.

Wall Street Analysts Forecast Growth

Separately, Bank of America upped their target price on Qifu Technology from $50.66 to $52.70 and gave the stock 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.