The Manufacturers Life Insurance Company Trims Stock Position in Qifu Technology, Inc. (NASDAQ:QFIN)

The Manufacturers Life Insurance Company lowered its position in shares of Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) by 96.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,833 shares of the company's stock after selling 405,745 shares during the period. The Manufacturers Life Insurance Company's holdings in Qifu Technology were worth $472,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Daiwa Securities Group Inc. grew its stake in shares of Qifu Technology by 18.6% during the third quarter. Daiwa Securities Group Inc. now owns 12,100 shares of the company's stock worth $361,000 after purchasing an additional 1,900 shares in the last quarter. Swedbank AB grew its stake in shares of Qifu Technology by 156.0% during the third quarter. Swedbank AB now owns 754,300 shares of the company's stock worth $22,486,000 after purchasing an additional 459,700 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Qifu Technology by 5.6% during 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 in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Qifu Technology by 148.2% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 820,343 shares of the company's stock worth $24,454,000 after purchasing an additional 489,865 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Qifu Technology during the third quarter worth $473,000. Institutional investors and hedge funds own 74.81% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Citigroup boosted their target price on shares of Qifu Technology from $31.44 to $37.50 and gave the stock a "buy" rating in a research note on Thursday, November 21st.

Qifu Technology Stock Up 3.4 %

QFIN traded up $1.26 on Friday, reaching $38.85. The company had a trading volume of 1,640,810 shares, compared to its average volume of 1,551,863. Qifu Technology, Inc. has a 1 year low of $13.71 and a 1 year high of $40.31. The stock has a market capitalization of $6.27 billion, a PE ratio of 7.86, a P/E/G ratio of 0.33 and a beta of 0.64. The stock has a 50-day moving average price of $34.08 and a 200-day moving average price of $26.57.

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.