Qifu Technology, Inc. (NASDAQ:QFIN) Shares Sold by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC lessened its position in shares of Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) by 50.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 210,394 shares of the company's stock after selling 217,945 shares during the quarter. Cubist Systematic Strategies LLC owned about 0.13% of Qifu Technology worth $8,075,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in QFIN. GeoWealth Management LLC purchased a new stake in Qifu Technology during the 4th quarter valued at approximately $26,000. Jones Financial Companies Lllp acquired a new stake in shares of Qifu Technology during the fourth quarter worth $29,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Qifu Technology during the third quarter worth $30,000. Advisors Preferred LLC purchased a new position in Qifu Technology in the 4th quarter valued at $41,000. Finally, Global Retirement Partners LLC grew its position in Qifu Technology by 80.2% in the 4th quarter. Global Retirement Partners LLC now owns 1,164 shares of the company's stock valued at $45,000 after buying an additional 518 shares during the last quarter. Institutional investors and hedge funds own 74.81% of the company's stock.

Qifu Technology Price Performance

Shares of QFIN stock traded up $1.13 during midday trading on Tuesday, reaching $46.58. 480,665 shares of the company traded hands, compared to its average volume of 1,545,591. The firm has a market cap of $7.34 billion, a PE ratio of 9.43, a price-to-earnings-growth ratio of 0.32 and a beta of 0.53. Qifu Technology, Inc. has a 1-year low of $18.13 and a 1-year high of $48.94. The firm's 50 day simple moving average is $41.25 and its two-hundred day simple moving average is $39.05.

Qifu Technology (NASDAQ:QFIN - Get Free Report) last issued its quarterly earnings data 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 net margin of 31.82% and a return on equity of 24.39%. The firm had revenue of $613.89 million for the quarter, compared to analysts' expectations of $581.67 million. As a group, research analysts anticipate that Qifu Technology, Inc. will post 5.71 earnings per share for the current fiscal year.

Qifu Technology Increases Dividend

The business 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. 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 yield of 2.5%. Qifu Technology's dividend payout ratio (DPR) is presently 23.79%.

Wall Street Analyst Weigh In

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

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.