DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main decreased its stake in Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) by 68.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 101,568 shares of the company's stock after selling 222,173 shares during the quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main owned 0.06% of Qifu Technology worth $3,898,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also modified their holdings of the company. Caxton Associates LP purchased a new stake in Qifu Technology in the 4th quarter worth about $1,340,000. Ameriprise Financial Inc. lifted its stake in Qifu Technology by 36.4% in the 4th quarter. Ameriprise Financial Inc. now owns 24,365 shares of the company's stock worth $935,000 after acquiring an additional 6,505 shares in the last quarter. Aspex Management HK Ltd lifted its stake in Qifu Technology by 11.3% in the 4th quarter. Aspex Management HK Ltd now owns 6,371,808 shares of the company's stock worth $244,550,000 after acquiring an additional 648,088 shares in the last quarter. Schonfeld Strategic Advisors LLC purchased a new stake in Qifu Technology in the 4th quarter worth about $3,892,000. Finally, AQR Capital Management LLC lifted its stake in Qifu Technology by 11.9% in the 4th quarter. AQR Capital Management LLC now owns 2,432,131 shares of the company's stock worth $93,345,000 after acquiring an additional 258,586 shares in the last quarter. Institutional investors and hedge funds own 74.81% of the company's stock.
Qifu Technology Price Performance
Qifu Technology stock traded down $0.00 during mid-day trading on Friday, hitting $44.21. The company's stock had a trading volume of 757,647 shares, compared to its average volume of 1,558,066. The firm's 50 day moving average is $41.55 and its 200 day moving average is $39.20. The company has a market cap of $6.97 billion, a PE ratio of 8.96, a price-to-earnings-growth ratio of 0.32 and a beta of 0.53. Qifu Technology, Inc. has a 52-week low of $18.13 and a 52-week high of $48.94.
Qifu Technology (NASDAQ:QFIN - Get Free Report) last posted its quarterly earnings results on Sunday, March 16th. The company reported $1.82 earnings per share for the quarter, topping 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 the consensus estimate of $581.67 million. As a group, analysts forecast that Qifu Technology, Inc. will post 5.71 EPS for the current year.
Qifu Technology Increases Dividend
The company also recently declared a semi-annual dividend, which will be paid on Monday, June 2nd. Stockholders of record on Wednesday, April 23rd will be paid a dividend of $0.70 per share. The ex-dividend date is Wednesday, April 23rd. This is an increase from Qifu Technology's previous semi-annual dividend of $0.60. This represents a dividend yield of 2.5%. Qifu Technology's dividend payout ratio (DPR) is 23.79%.
Analyst Upgrades and Downgrades
Separately, Bank of America increased their price objective on Qifu Technology from $50.66 to $52.70 and gave the stock a "buy" rating in a research note on Wednesday, March 26th.
View Our Latest Stock Analysis on Qifu Technology
Qifu Technology Company Profile
(
Free Report)
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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