Wellington Management Group LLP Trims Stake in Qifu Technology, Inc. (NASDAQ:QFIN)

Wellington Management Group LLP reduced its stake in Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) by 33.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 153,459 shares of the company's stock after selling 76,449 shares during the period. Wellington Management Group LLP owned about 0.10% of Qifu Technology worth $5,890,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. grew its stake in shares of Qifu Technology by 5.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 136,368 shares of the company's stock worth $4,065,000 after purchasing an additional 7,196 shares during the last quarter. Quantinno Capital Management LP increased its position in Qifu Technology by 9.2% during the 3rd quarter. Quantinno Capital Management LP now owns 16,456 shares of the company's stock valued at $491,000 after purchasing an additional 1,380 shares during the period. State Street Corp raised its holdings in Qifu Technology by 5.8% during the 3rd quarter. State Street Corp now owns 2,324,831 shares of the company's stock worth $70,637,000 after purchasing an additional 128,381 shares during the last quarter. Wolverine Trading LLC acquired a new position in shares of Qifu Technology in the 3rd quarter worth approximately $253,000. Finally, National Bank of Canada FI boosted its stake in shares of Qifu Technology by 20.9% in the 3rd quarter. National Bank of Canada FI now owns 214,910 shares of the company's stock valued at $6,406,000 after purchasing an additional 37,110 shares during the last quarter. 74.81% of the stock is currently owned by institutional investors and hedge funds.

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Qifu Technology Stock Performance

Shares of NASDAQ QFIN traded down $0.72 during midday trading on Wednesday, hitting $38.05. 950,996 shares of the stock traded hands, compared to its average volume of 1,521,024. Qifu Technology, Inc. has a one year low of $17.76 and a one year high of $48.94. The business has a 50 day moving average price of $41.95 and a two-hundred day moving average price of $37.97. The company has a market cap of $6.00 billion, a PE ratio of 7.71, a P/E/G ratio of 0.32 and a beta of 0.53.

Qifu Technology (NASDAQ:QFIN - Get Free Report) last announced its earnings results on Sunday, March 16th. The company reported $1.82 EPS for the quarter, beating 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 the consensus estimate of $581.67 million. As a group, equities research analysts forecast that Qifu Technology, Inc. will post 5.71 EPS for the current fiscal year.

Qifu Technology Increases Dividend

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

Wall Street Analyst Weigh In

Separately, Bank of America lifted their price objective on 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 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.