Serenity Capital Management PTE. LTD. Sells 465,504 Shares of Qifu Technology, Inc. (NASDAQ:QFIN)

Serenity Capital Management PTE. LTD. lowered its stake in Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) by 17.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,136,812 shares of the company's stock after selling 465,504 shares during the period. Qifu Technology makes up 32.4% of Serenity Capital Management PTE. LTD.'s holdings, making the stock its 2nd biggest holding. Serenity Capital Management PTE. LTD. owned 1.32% of Qifu Technology worth $63,698,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of QFIN. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Qifu Technology by 88.2% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 102,000 shares of the company's stock worth $1,880,000 after purchasing an additional 47,800 shares during the last quarter. Quantbot Technologies LP acquired a new stake in Qifu Technology in the first quarter valued at about $634,000. Banque Cantonale Vaudoise boosted its stake in Qifu Technology by 94.3% in the first quarter. Banque Cantonale Vaudoise now owns 206,000 shares of the company's stock valued at $3,797,000 after buying an additional 100,000 shares in the last quarter. AQR Capital Management LLC bought a new position in Qifu Technology in the second quarter valued at about $25,560,000. Finally, Hsbc Holdings PLC raised its stake in Qifu Technology by 9.8% during the second quarter. Hsbc Holdings PLC now owns 424,904 shares of the company's stock worth $8,377,000 after acquiring an additional 37,948 shares in the last quarter. Institutional investors and hedge funds own 74.81% of the company's stock.

Qifu Technology Stock Performance

Shares of QFIN traded up $1.34 during mid-day trading on Friday, reaching $33.37. The company had a trading volume of 1,556,188 shares, compared to its average volume of 1,298,639. The company has a market capitalization of $5.39 billion, a price-to-earnings ratio of 8.02, a P/E/G ratio of 0.45 and a beta of 0.62. The company's 50 day simple moving average is $27.05 and its 200 day simple moving average is $22.21. Qifu Technology, Inc. has a 1-year low of $13.68 and a 1-year high of $34.92.

Qifu Technology (NASDAQ:QFIN - Get Free Report) last issued its earnings results on Tuesday, August 13th. The company reported $1.22 earnings per share for the quarter, beating analysts' consensus estimates of $0.99 by $0.23. The firm had revenue of $572.44 million for the quarter, compared to analyst estimates of $582.69 million. Qifu Technology had a net margin of 28.06% and a return on equity of 21.82%. As a group, equities analysts forecast that Qifu Technology, Inc. will post 5.08 earnings per share for the current fiscal year.

Qifu Technology Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Friday, November 1st. Investors of record on Friday, September 27th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a yield of 4.7%. This is a positive change from Qifu Technology's previous semi-annual dividend of $0.57. Qifu Technology's payout ratio is currently 28.37%.

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.