Vanguard Group Inc. Sells 118,746 Shares of Qifu Technology, Inc. (NASDAQ:QFIN)

Vanguard Group Inc. reduced its position in Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) by 2.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 4,541,830 shares of the company's stock after selling 118,746 shares during the period. Vanguard Group Inc. owned 2.88% of Qifu Technology worth $174,315,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in QFIN. LPL Financial LLC boosted its holdings in Qifu Technology by 90.7% in the fourth quarter. LPL Financial LLC now owns 24,179 shares of the company's stock valued at $928,000 after acquiring an additional 11,502 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in Qifu Technology during the 4th quarter valued at about $1,105,000. Sei Investments Co. boosted its stake in shares of Qifu Technology by 100.8% in the 4th quarter. Sei Investments Co. now owns 675,813 shares of the company's stock valued at $25,938,000 after purchasing an additional 339,234 shares during the last quarter. American Century Companies Inc. grew its position in shares of Qifu Technology by 12.8% during the 4th quarter. American Century Companies Inc. now owns 553,797 shares of the company's stock worth $21,255,000 after buying an additional 62,837 shares during the period. Finally, iA Global Asset Management Inc. bought a new stake in shares of Qifu Technology during the fourth quarter worth approximately $93,000. Institutional investors own 74.81% of the company's stock.

Analysts Set New Price Targets

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

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Qifu Technology Stock Performance

NASDAQ:QFIN traded down $0.36 during mid-day trading on Friday, hitting $36.37. The company had a trading volume of 3,872,213 shares, compared to its average volume of 1,502,127. Qifu Technology, Inc. has a fifty-two week low of $17.76 and a fifty-two week high of $48.94. The business's fifty day moving average is $42.05 and its two-hundred day moving average is $37.83. The firm has a market cap of $5.73 billion, a P/E ratio of 7.36, a P/E/G ratio of 0.32 and a beta of 0.53.

Qifu Technology (NASDAQ:QFIN - Get Free Report) last announced its quarterly earnings results on Sunday, March 16th. The company reported $1.82 EPS for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $581.67 million. Equities analysts forecast that Qifu Technology, Inc. will post 5.71 earnings per share for the current 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 paid a $0.70 dividend. This represents a yield of 2.5%. The ex-dividend date is Wednesday, April 23rd. This is an increase from Qifu Technology's previous semi-annual dividend of $0.60. Qifu Technology's dividend payout ratio is presently 23.79%.

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.