Krane Funds Advisors LLC Sells 319,524 Shares of Qifu Technology, Inc. (NASDAQ:QFIN)

Krane Funds Advisors LLC trimmed its stake in Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) by 5.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,897,401 shares of the company's stock after selling 319,524 shares during the period. Qifu Technology accounts for 6.3% of Krane Funds Advisors LLC's portfolio, making the stock its 10th largest position. Krane Funds Advisors LLC owned 3.65% of Qifu Technology worth $175,802,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. USA Financial Formulas acquired a new stake in Qifu Technology in the third quarter valued at approximately $41,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Qifu Technology in the 2nd quarter worth $31,000. Blue Trust Inc. grew its stake in Qifu Technology by 598.4% during the 2nd quarter. Blue Trust Inc. now owns 1,732 shares of the company's stock worth $32,000 after buying an additional 1,484 shares during the last quarter. Janiczek Wealth Management LLC increased its position in Qifu Technology by 131.4% during the 1st quarter. Janiczek Wealth Management LLC now owns 2,386 shares of the company's stock valued at $44,000 after buying an additional 1,355 shares in the last quarter. Finally, Signaturefd LLC raised its stake in Qifu Technology by 67.3% in the second quarter. Signaturefd LLC now owns 7,283 shares of the company's stock valued at $144,000 after buying an additional 2,931 shares during the last quarter. 74.81% of the stock is currently owned by hedge funds and other institutional investors.

Qifu Technology Trading Up 3.0 %

Shares of QFIN stock traded up $1.01 during trading hours on Tuesday, reaching $34.31. 2,620,790 shares of the company's stock were exchanged, compared to its average volume of 1,304,459. Qifu Technology, Inc. has a 1 year low of $13.71 and a 1 year high of $34.92. The stock has a market cap of $5.54 billion, a PE ratio of 8.00, a PEG ratio of 0.45 and a beta of 0.62. The stock's fifty day moving average price is $27.57 and its two-hundred day moving average price is $22.45.

Qifu Technology (NASDAQ:QFIN - Get Free Report) last released its earnings results on Tuesday, August 13th. The company reported $1.22 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.23. The company had revenue of $572.44 million for the quarter, compared to the consensus estimate of $582.69 million. Qifu Technology had a net margin of 28.06% and a return on equity of 21.82%. On average, equities analysts expect that Qifu Technology, Inc. will post 5.08 EPS for the current fiscal year.

Qifu Technology Increases Dividend

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

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.