Wellington Management Group LLP Trims Holdings in Qifu Technology, Inc. (NASDAQ:QFIN)

Wellington Management Group LLP lessened its holdings in shares of Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) by 33.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 153,459 shares of the company's stock after selling 76,449 shares during the period. Wellington Management Group LLP owned 0.10% of Qifu Technology worth $5,890,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Mackenzie Financial Corp boosted its stake in Qifu Technology by 48.6% in the 4th quarter. Mackenzie Financial Corp now owns 483,387 shares of the company's stock worth $18,552,000 after purchasing an additional 158,013 shares in the last quarter. GF Fund Management CO. LTD. purchased a new position in Qifu Technology in the 4th quarter worth about $8,736,000. Public Employees Retirement System of Ohio raised its position in Qifu Technology by 43.3% in the 4th quarter. Public Employees Retirement System of Ohio now owns 407,993 shares of the company's stock worth $15,659,000 after buying an additional 123,292 shares during the last quarter. Vise Technologies Inc. purchased a new position in Qifu Technology in the 4th quarter worth about $239,000. Finally, Vident Advisory LLC raised its position in Qifu Technology by 9.2% in the 4th quarter. Vident Advisory LLC now owns 19,191 shares of the company's stock worth $737,000 after buying an additional 1,621 shares during the last quarter. Institutional investors own 74.81% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on QFIN shares. 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. Wall Street Zen lowered shares of Qifu Technology from a "strong-buy" rating to a "buy" rating in a research report on Sunday, June 1st.

Qifu Technology Price Performance

Shares of NASDAQ:QFIN traded down $0.68 during mid-day trading on Friday, reaching $42.29. 1,078,964 shares of the company traded hands, compared to its average volume of 1,582,123. The company's 50 day moving average price is $40.86 and its 200-day moving average price is $40.38. The firm has a market cap of $6.67 billion, a PE ratio of 8.56, a PEG 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 Monday, May 19th. The company reported $1.74 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.02. The business had revenue of $646.19 million during the quarter, compared to the consensus estimate of $4.61 billion. Qifu Technology had a return on equity of 24.39% and a net margin of 31.82%. On average, research 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 was paid on Monday, June 2nd. Investors of record on Wednesday, April 23rd were paid a dividend of $0.70 per share. This is an increase from Qifu Technology's previous semi-annual dividend of $0.60. The ex-dividend date of this dividend was Wednesday, April 23rd. This represents a yield of 2.5%. Qifu Technology's dividend payout ratio is presently 21.17%.

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.