BNP Paribas Financial Markets Trims Position in Qifu Technology, Inc. (NASDAQ:QFIN)

BNP Paribas Financial Markets cut its stake in shares of Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) by 16.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 309,984 shares of the company's stock after selling 60,483 shares during the period. BNP Paribas Financial Markets owned about 0.20% of Qifu Technology worth $11,897,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of QFIN. Wrapmanager Inc. raised its stake in shares of Qifu Technology by 4.1% during the 4th quarter. Wrapmanager Inc. now owns 7,554 shares of the company's stock worth $290,000 after purchasing an additional 296 shares during the period. Global Retirement Partners LLC raised its stake in shares of Qifu Technology by 80.2% during the 4th quarter. Global Retirement Partners LLC now owns 1,164 shares of the company's stock worth $45,000 after purchasing an additional 518 shares during the period. DGS Capital Management LLC raised its stake in shares of Qifu Technology by 5.9% during the 4th quarter. DGS Capital Management LLC now owns 11,413 shares of the company's stock worth $438,000 after purchasing an additional 631 shares during the period. GeoWealth Management LLC bought a new stake in shares of Qifu Technology during the 4th quarter worth $26,000. Finally, Jones Financial Companies Lllp bought a new stake in shares of Qifu Technology during the 4th quarter worth $29,000. 74.81% of the stock is currently owned by institutional investors.

Qifu Technology Stock Down 0.3%

QFIN traded down $0.13 during trading hours on Friday, hitting $44.09. The stock had a trading volume of 694,155 shares, compared to its average volume of 1,557,758. The company's fifty day simple moving average is $41.55 and its 200 day simple moving average is $39.20. Qifu Technology, Inc. has a 1 year low of $18.13 and a 1 year high of $48.94. The stock has a market cap of $6.95 billion, a PE ratio of 8.93, a price-to-earnings-growth ratio of 0.32 and a beta of 0.53.

Qifu Technology (NASDAQ:QFIN - Get Free Report) last announced its quarterly earnings data 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. 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 analyst estimates of $581.67 million. As a group, equities analysts expect that Qifu Technology, Inc. will post 5.71 EPS for the current year.

Qifu Technology Increases Dividend

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

Analyst Upgrades and Downgrades

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

Qifu Technology 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.