Dimensional Fund Advisors LP Sells 51,696 Shares of Qifu Technology, Inc. (NASDAQ:QFIN)

Dimensional Fund Advisors LP cut its holdings in shares of Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) by 2.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,022,921 shares of the company's stock after selling 51,696 shares during the quarter. Dimensional Fund Advisors LP owned approximately 1.28% of Qifu Technology worth $77,594,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in QFIN. Alliancebernstein L.P. purchased a new stake in Qifu Technology in the 4th quarter worth about $92,150,000. Norges Bank purchased a new position in shares of Qifu Technology in the fourth quarter worth about $46,579,000. Candriam S.C.A. bought a new stake in shares of Qifu Technology in the fourth quarter valued at approximately $27,185,000. Marshall Wace LLP lifted its stake in shares of Qifu Technology by 67.5% during the 4th quarter. Marshall Wace LLP now owns 1,351,277 shares of the company's stock valued at $51,862,000 after buying an additional 544,666 shares in the last quarter. Finally, NS Partners Ltd bought a new position in Qifu Technology in the 4th quarter worth approximately $17,177,000. 74.81% of the stock is currently owned by institutional investors.

Qifu Technology Trading Down 2.1 %

Shares of QFIN traded down $0.92 during trading hours on Monday, reaching $42.11. 220,884 shares of the company's stock traded hands, compared to its average volume of 1,544,246. Qifu Technology, Inc. has a 12 month low of $18.13 and a 12 month high of $48.94. The stock has a market cap of $6.64 billion, a PE ratio of 8.53, a price-to-earnings-growth ratio of 0.32 and a beta of 0.53. The firm's 50 day simple moving average is $40.96 and its 200-day simple moving average is $38.65.

Qifu Technology (NASDAQ:QFIN - Get Free Report) last issued its quarterly earnings results on Sunday, March 16th. The company reported $1.82 EPS for the quarter, topping 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 analyst estimates of $581.67 million. As a group, analysts expect that Qifu Technology, Inc. will post 5.71 earnings per share for the current fiscal 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 dividend of $0.70 per share. This represents a dividend yield of 2.5%. This is a boost from Qifu Technology's previous semi-annual dividend of $0.60. The ex-dividend date of this dividend is Wednesday, April 23rd. Qifu Technology's dividend payout ratio (DPR) is currently 23.79%.

Analyst Ratings Changes

Separately, Bank of America raised 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.

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.