Qifu Technology, Inc. (NASDAQ:QFIN) Shares Sold by Two Sigma Investments LP

Two Sigma Investments LP reduced its position in Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) by 43.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 185,539 shares of the company's stock after selling 142,836 shares during the quarter. Two Sigma Investments LP owned about 0.12% of Qifu Technology worth $7,121,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of QFIN. GeoWealth Management LLC purchased a new position in Qifu Technology in the 4th quarter valued at $26,000. Jones Financial Companies Lllp purchased a new stake in shares of Qifu Technology in the fourth quarter valued at about $29,000. Advisors Preferred LLC acquired a new position in shares of Qifu Technology during the fourth quarter worth about $41,000. Global Retirement Partners LLC increased its stake in shares of Qifu Technology by 80.2% during the fourth quarter. Global Retirement Partners LLC now owns 1,164 shares of the company's stock worth $45,000 after acquiring an additional 518 shares during the period. Finally, BOCHK Asset Management Ltd purchased a new position in Qifu Technology during the fourth quarter worth about $46,000. 74.81% of the stock is owned by institutional investors and hedge funds.

Qifu Technology Stock Performance

Shares of QFIN stock traded down $1.21 on Friday, hitting $41.23. The stock had a trading volume of 294,657 shares, compared to its average volume of 1,571,376. The stock's 50 day moving average is $41.33 and its 200-day moving average is $39.90. The firm has a market capitalization of $6.50 billion, a price-to-earnings ratio of 8.36, a P/E/G 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 released its quarterly earnings results on Monday, May 19th. The company reported $1.74 EPS for the quarter, topping the consensus estimate of $1.72 by $0.02. The business had revenue of $646.19 million for the quarter, compared to analysts' expectations of $4.61 billion. Qifu Technology had a return on equity of 24.39% and a net margin of 31.82%. Equities analysts expect that Qifu Technology, Inc. will post 5.71 earnings per share for the current year.

Qifu Technology Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Monday, June 2nd. Shareholders of record on Wednesday, April 23rd will be given a $0.70 dividend. This represents a dividend yield of 2.5%. This is a positive change 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 is presently 21.17%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Wall Street Zen raised Qifu Technology from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 24th. Bank of America boosted their target price on Qifu Technology from $50.66 to $52.70 and gave the stock a "buy" rating in a research report on Wednesday, March 26th.

Qifu Technology Company 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.