Qifu Technology, Inc. (NASDAQ:QFIN) Position Lowered by Prudential PLC

Prudential PLC trimmed its stake in Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) by 24.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 972,224 shares of the company's stock after selling 316,336 shares during the quarter. Prudential PLC owned approximately 0.62% of Qifu Technology worth $37,314,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Wrapmanager Inc. boosted its position in shares of Qifu Technology by 4.1% in the fourth quarter. Wrapmanager Inc. now owns 7,554 shares of the company's stock worth $290,000 after acquiring an additional 296 shares during the last quarter. Global Retirement Partners LLC increased its stake in Qifu Technology by 80.2% during the fourth quarter. Global Retirement Partners LLC now owns 1,164 shares of the company's stock worth $45,000 after acquiring an additional 518 shares during the last quarter. DGS Capital Management LLC raised its holdings in shares of Qifu Technology by 5.9% in the 4th quarter. DGS Capital Management LLC now owns 11,413 shares of the company's stock worth $438,000 after purchasing an additional 631 shares during the period. Jones Financial Companies Lllp acquired a new position in shares of Qifu Technology in the 4th quarter valued at about $29,000. Finally, Lester Murray Antman dba SimplyRich grew its holdings in shares of Qifu Technology by 5.7% during the 4th quarter. Lester Murray Antman dba SimplyRich now owns 14,288 shares of the company's stock worth $548,000 after purchasing an additional 768 shares during the period. 74.81% of the stock is currently owned by hedge funds and other institutional investors.

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Qifu Technology Stock Down 3.7 %

Shares of QFIN traded down $1.33 during mid-day trading on Wednesday, reaching $34.53. 1,670,388 shares of the stock traded hands, compared to its average volume of 1,467,627. The firm has a market cap of $5.44 billion, a price-to-earnings ratio of 7.01, a P/E/G ratio of 0.32 and a beta of 0.53. The stock has a fifty day simple moving average of $42.38 and a 200 day simple moving average of $37.63. Qifu Technology, Inc. has a 12-month low of $17.76 and a 12-month 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 for the quarter, beating the consensus estimate of $1.68 by $0.14. Qifu Technology had a return on equity of 24.39% and a net margin of 31.82%. The company had revenue of $613.89 million during the quarter, compared to the consensus estimate of $581.67 million. On average, equities research analysts expect that Qifu Technology, Inc. will post 5.71 earnings per share for the current fiscal year.

Qifu Technology Increases Dividend

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

Analyst Upgrades and Downgrades

Separately, Bank of America increased their price objective on shares of Qifu Technology from $50.66 to $52.70 and gave the stock a "buy" rating in a research report on Wednesday, March 26th.

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.