Dimensional Fund Advisors LP Cuts Position in Qifu Technology, Inc. (NASDAQ:QFIN)

Dimensional Fund Advisors LP trimmed its position in shares of Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) by 2.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,022,921 shares of the company's stock after selling 51,696 shares during the period. Dimensional Fund Advisors LP owned approximately 1.28% of Qifu Technology worth $77,594,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Alliancebernstein L.P. bought a new stake in Qifu Technology in the fourth quarter worth $92,150,000. Arrowstreet Capital Limited Partnership increased its holdings in shares of Qifu Technology by 10.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,478,319 shares of the company's stock worth $56,738,000 after buying an additional 134,326 shares during the last quarter. Causeway Capital Management LLC raised its position in shares of Qifu Technology by 0.3% during the 4th quarter. Causeway Capital Management LLC now owns 1,377,475 shares of the company's stock valued at $52,867,000 after buying an additional 4,137 shares in the last quarter. Marshall Wace LLP lifted its holdings in shares of Qifu Technology by 67.5% in the 4th quarter. Marshall Wace LLP now owns 1,351,277 shares of the company's stock valued at $51,862,000 after acquiring an additional 544,666 shares during the last quarter. Finally, Norges Bank purchased a new position in Qifu Technology in the fourth quarter worth about $46,579,000. 74.81% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Bank of America increased their target price 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.

Qifu Technology Trading Up 0.1 %

Shares of Qifu Technology stock opened at $40.54 on Wednesday. Qifu Technology, Inc. has a 12 month low of $18.13 and a 12 month high of $48.94. The stock's fifty day moving average price is $40.92 and its 200-day moving average price is $38.41. The firm has a market cap of $6.39 billion, a P/E ratio of 8.21, a P/E/G ratio of 0.32 and a beta of 0.53.

Qifu Technology (NASDAQ:QFIN - Get Free Report) last announced its earnings results on Sunday, March 16th. The company reported $1.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $0.14. The business had revenue of $613.89 million for the quarter, compared to analysts' expectations of $581.67 million. Qifu Technology had a return on equity of 24.39% and a net margin of 31.82%. Analysts forecast that Qifu Technology, Inc. will post 5.71 earnings per share for the current year.

Qifu Technology Increases Dividend

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

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.

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