Pictet Asset Management Holding SA Cuts Stake in Qifu Technology, Inc. (NASDAQ:QFIN)

Pictet Asset Management Holding SA trimmed its position in Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) by 64.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 141,500 shares of the company's stock after selling 258,229 shares during the quarter. Pictet Asset Management Holding SA owned approximately 0.09% of Qifu Technology worth $5,431,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of QFIN. Jones Financial Companies Lllp purchased a new stake in Qifu Technology in the 4th quarter worth approximately $29,000. Wilmington Savings Fund Society FSB bought 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 in the fourth quarter worth $41,000. Global Retirement Partners LLC raised its position in shares of Qifu Technology by 80.2% in the fourth quarter. Global Retirement Partners LLC now owns 1,164 shares of the company's stock worth $45,000 after buying an additional 518 shares in the last quarter. Finally, BOCHK Asset Management Ltd bought a new stake in Qifu Technology during the fourth quarter valued at $46,000. 74.81% of the stock is currently owned by institutional investors.

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 research note on Wednesday, March 26th.

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Qifu Technology Price Performance

QFIN stock traded down $0.22 during midday trading on Tuesday, reaching $35.86. The company had a trading volume of 3,117,481 shares, compared to its average volume of 1,466,216. The firm has a 50-day moving average price of $42.38 and a 200-day moving average price of $37.63. The company has a market capitalization of $5.65 billion, a P/E ratio of 7.26, a P/E/G ratio of 0.32 and a beta of 0.53. Qifu Technology, Inc. has a 1 year low of $17.76 and a 1 year high of $48.94.

Qifu Technology (NASDAQ:QFIN - Get Free Report) last announced its earnings results on Sunday, March 16th. The company reported $1.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.68 by $0.14. Qifu Technology had a net margin of 31.82% and a return on equity of 24.39%. The company had revenue of $613.89 million during the quarter, compared to analyst estimates of $581.67 million. On average, equities analysts predict that Qifu Technology, Inc. will post 5.71 EPS for the current year.

Qifu Technology Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Monday, June 2nd. Stockholders 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 dividend yield of 2.5%. Qifu Technology's dividend payout ratio is 23.79%.

Qifu Technology 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.