Qifu Technology, Inc. (NASDAQ:QFIN) Shares Sold by Korea Investment CORP

Korea Investment CORP lowered its holdings in Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) by 10.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 136,100 shares of the company's stock after selling 16,000 shares during the quarter. Korea Investment CORP owned approximately 0.09% of Qifu Technology worth $5,224,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Geode Capital Management LLC lifted its position in shares of Qifu Technology by 3.2% during the third quarter. Geode Capital Management LLC now owns 1,309,635 shares of the company's stock valued at $38,866,000 after buying an additional 41,139 shares during the last quarter. Asset Management One Co. Ltd. lifted its position in Qifu Technology by 66.8% during the fourth quarter. Asset Management One Co. Ltd. now owns 32,873 shares of the company's stock valued at $1,255,000 after acquiring an additional 13,170 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in Qifu Technology during the third quarter valued at approximately $1,061,000. KBC Group NV boosted its stake in Qifu Technology by 279.6% in the fourth quarter. KBC Group NV now owns 35,381 shares of the company's stock valued at $1,358,000 after acquiring an additional 26,061 shares in the last quarter. Finally, Dorsey Wright & Associates grew its holdings in Qifu Technology by 13.4% in the third quarter. Dorsey Wright & Associates now owns 131,812 shares of the company's stock worth $3,929,000 after purchasing an additional 15,585 shares during the last quarter. Hedge funds and other institutional investors own 74.81% of the company's stock.

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Analysts Set New Price Targets

Separately, Bank of America upped their price target 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 Trading Down 12.0 %

Shares of QFIN stock traded down $5.23 during trading hours on Friday, reaching $38.25. 3,218,351 shares of the company's stock were exchanged, compared to its average volume of 1,449,685. Qifu Technology, Inc. has a 1 year low of $17.76 and a 1 year high of $48.94. The stock has a market cap of $6.03 billion, a PE ratio of 7.74, a PEG ratio of 0.32 and a beta of 0.53. The stock's fifty day moving average price is $42.69 and its two-hundred day moving average price is $37.42.

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

Qifu Technology Increases Dividend

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

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.