Qtron Investments LLC Trims Holdings in Qifu Technology, Inc. (NASDAQ:QFIN)

Qtron Investments LLC lessened its stake in shares of Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) by 49.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,969 shares of the company's stock after selling 6,932 shares during the quarter. Qtron Investments LLC's holdings in Qifu Technology were worth $267,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Alliancebernstein L.P. bought a new stake in Qifu Technology during the fourth quarter valued at approximately $92,150,000. State Street Corp grew its holdings in shares of Qifu Technology by 5.8% during the 3rd quarter. State Street Corp now owns 2,324,831 shares of the company's stock valued at $70,637,000 after purchasing an additional 128,381 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in Qifu Technology by 10.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,478,319 shares of the company's stock valued at $56,738,000 after buying an additional 134,326 shares during the period. Geode Capital Management LLC grew its stake 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. Finally, Norges Bank purchased a new position in shares of Qifu Technology in the fourth quarter worth about $46,579,000. 74.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Qifu Technology Stock Performance

NASDAQ:QFIN traded down $0.92 during midday trading on Friday, reaching $35.62. 1,392,952 shares of the stock traded hands, compared to its average volume of 1,535,131. The stock has a market capitalization of $5.61 billion, a P/E ratio of 7.21, a PEG ratio of 0.32 and a beta of 0.53. Qifu Technology, Inc. has a 12 month low of $17.95 and a 12 month high of $48.94. The company has a fifty day moving average of $41.67 and a 200 day moving average of $38.00.

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

Qifu Technology Increases Dividend

The company also recently announced 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 is an increase from Qifu Technology's previous semi-annual dividend of $0.60. The ex-dividend date is Wednesday, April 23rd. This represents a dividend yield of 2.5%. Qifu Technology's dividend payout ratio is 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.