Legal & General Group Plc Trims Stake in Qifu Technology, Inc. (NASDAQ:QFIN)

Legal & General Group Plc decreased its stake in shares of Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) by 31.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 778,326 shares of the company's stock after selling 349,449 shares during the quarter. Legal & General Group Plc owned about 0.49% of Qifu Technology worth $29,872,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Jones Financial Companies Lllp purchased a new position in Qifu Technology in the 4th quarter worth approximately $29,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Qifu Technology in the third quarter worth $30,000. Advisors Preferred LLC bought a new position in shares of Qifu Technology during the fourth quarter valued at $41,000. Global Retirement Partners LLC boosted its position in shares of Qifu Technology by 80.2% during 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 during the last quarter. Finally, BOCHK Asset Management Ltd bought a new stake in Qifu Technology in the 4th quarter worth about $46,000. 74.81% of the stock is owned by institutional investors.

Qifu Technology Trading Down 2.5 %

NASDAQ:QFIN traded down $0.92 during trading hours on Friday, reaching $35.62. The company had a trading volume of 1,392,952 shares, compared to its average volume of 1,535,131. The firm's 50 day moving average price is $41.67 and its 200-day moving average price is $38.00. The firm has a market cap of $5.61 billion, a price-to-earnings ratio of 7.21, a PEG ratio of 0.32 and a beta of 0.53. Qifu Technology, Inc. has a 52 week low of $17.95 and a 52 week high of $48.94.

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 analysts' consensus estimates of $1.68 by $0.14. The company had revenue of $613.89 million during the quarter, compared to analysts' expectations of $581.67 million. Qifu Technology had a return on equity of 24.39% and a net margin of 31.82%. On average, analysts forecast that Qifu Technology, Inc. will post 5.71 earnings per share for the current fiscal year.

Qifu Technology Increases Dividend

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

Wall Street Analysts Forecast Growth

Separately, Bank of America upped their target price on shares of Qifu Technology from $50.66 to $52.70 and gave the company a "buy" rating in a research note 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.