Geode Capital Management LLC Sells 32,834 Shares of Qifu Technology, Inc. (NASDAQ:QFIN)

Geode Capital Management LLC cut its holdings in Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) by 2.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,276,801 shares of the company's stock after selling 32,834 shares during the quarter. Geode Capital Management LLC owned about 0.81% of Qifu Technology worth $48,827,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Wrapmanager Inc. grew its holdings in shares of Qifu Technology by 4.1% during the fourth quarter. Wrapmanager Inc. now owns 7,554 shares of the company's stock worth $290,000 after buying an additional 296 shares in the last quarter. Global Retirement Partners LLC lifted its stake in Qifu Technology by 80.2% in the 4th quarter. Global Retirement Partners LLC now owns 1,164 shares of the company's stock valued at $45,000 after acquiring an additional 518 shares in the last quarter. DGS Capital Management LLC boosted its position in Qifu Technology by 5.9% during the 4th quarter. DGS Capital Management LLC now owns 11,413 shares of the company's stock worth $438,000 after acquiring an additional 631 shares during the last quarter. Jones Financial Companies Lllp bought a new position in shares of Qifu Technology during the 4th quarter worth approximately $29,000. Finally, Lester Murray Antman dba SimplyRich raised its holdings in shares of Qifu Technology by 5.7% in the fourth quarter. Lester Murray Antman dba SimplyRich now owns 14,288 shares of the company's stock valued at $548,000 after purchasing an additional 768 shares during the last quarter. 74.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Bank of America increased their price objective on shares of 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 Down 2.5 %

Shares of Qifu Technology stock traded down $0.92 on Friday, reaching $35.62. 1,392,952 shares of the company were exchanged, compared to its average volume of 1,539,631. Qifu Technology, Inc. has a one year low of $17.95 and a one year high of $48.94. The company has a 50-day moving average of $41.55 and a 200 day moving average of $38.07. The company has a market capitalization of $5.61 billion, a price-to-earnings ratio of 7.21, a PEG ratio of 0.32 and a beta of 0.53.

Qifu Technology (NASDAQ:QFIN - Get Free Report) last issued its quarterly earnings data on Sunday, March 16th. The company reported $1.82 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.68 by $0.14. The company had revenue of $613.89 million during 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 predict that Qifu Technology, Inc. will post 5.71 earnings per share for the current year.

Qifu Technology Increases Dividend

The company also recently announced a semi-annual dividend, which will be paid on Monday, June 2nd. Stockholders of record on Wednesday, April 23rd will be issued a dividend of $0.70 per share. The ex-dividend date is Wednesday, April 23rd. This represents a dividend yield of 2.5%. This is an increase from Qifu Technology's previous semi-annual dividend of $0.60. Qifu Technology's dividend payout ratio (DPR) is currently 23.79%.

About Qifu Technology

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.