FIL Ltd Has $12.95 Million Stock Position in Qifu Technology, Inc. (NASDAQ:QFIN)

FIL Ltd decreased its position in Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) by 42.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 337,343 shares of the company's stock after selling 253,023 shares during the period. FIL Ltd owned about 0.21% of Qifu Technology worth $12,947,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in QFIN. Geode Capital Management LLC boosted its position in Qifu Technology by 3.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,309,635 shares of the company's stock worth $38,866,000 after acquiring an additional 41,139 shares during the period. Asset Management One Co. Ltd. increased its stake in shares of Qifu Technology by 66.8% in the fourth quarter. Asset Management One Co. Ltd. now owns 32,873 shares of the company's stock worth $1,255,000 after acquiring an additional 13,170 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in Qifu Technology in the 3rd quarter worth about $1,061,000. Raymond James Financial Inc. acquired a new stake in shares of Qifu Technology during the 4th quarter valued at about $298,000. Finally, KBC Group NV grew its stake in shares of Qifu Technology by 279.6% in the 4th quarter. KBC Group NV now owns 35,381 shares of the company's stock valued at $1,358,000 after buying an additional 26,061 shares in the last quarter. 74.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Bank of America upped their price target 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 Trading Up 0.2 %

QFIN stock traded up $0.06 during trading on Thursday, hitting $36.60. 397,940 shares of the stock traded hands, compared to its average volume of 1,529,746. The company has a 50 day simple moving average of $41.82 and a 200 day simple moving average of $37.96. The stock has a market cap of $5.77 billion, a price-to-earnings ratio of 7.40, a P/E/G ratio of 0.32 and a beta of 0.53. Qifu Technology, Inc. has a one year low of $17.83 and a one year 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 (EPS) for the quarter, topping the consensus estimate of $1.68 by $0.14. The business had revenue of $613.89 million for the quarter, compared to analyst estimates of $581.67 million. Qifu Technology had a return on equity of 24.39% and a net margin of 31.82%. As a group, analysts predict that Qifu Technology, Inc. will post 5.71 earnings per share for the current fiscal year.

Qifu Technology Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Monday, June 2nd. Shareholders of record on Wednesday, April 23rd will be issued a $0.70 dividend. This is an increase from Qifu Technology's previous semi-annual dividend of $0.60. This represents a dividend yield of 2.5%. The ex-dividend date of this dividend is Wednesday, April 23rd. Qifu Technology's dividend payout ratio is 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.