Invesco Ltd. Sells 13,774 Shares of Qifu Technology, Inc. (NASDAQ:QFIN)

Invesco Ltd. cut its holdings in shares of Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) by 6.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 199,668 shares of the company's stock after selling 13,774 shares during the quarter. Invesco Ltd. owned 0.13% of Qifu Technology worth $7,663,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Jones Financial Companies Lllp purchased a new stake in Qifu Technology during the 4th quarter valued at approximately $29,000. Wilmington Savings Fund Society FSB acquired a new position in Qifu Technology during the third quarter worth about $30,000. Advisors Preferred LLC purchased a new stake in shares of Qifu Technology in the fourth quarter valued at $41,000. Global Retirement Partners LLC boosted its position in 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 last quarter. Finally, BOCHK Asset Management Ltd acquired a new position in Qifu Technology in the fourth quarter valued at $46,000. 74.81% of the stock is currently owned by hedge funds and other institutional investors.

Qifu Technology Stock Performance

Shares of Qifu Technology stock traded up $0.49 on Wednesday, reaching $41.03. 1,116,230 shares of the company were exchanged, compared to its average volume of 1,549,442. The company's 50-day moving average is $40.92 and its two-hundred day moving average is $38.41. The firm has a market cap of $6.47 billion, a price-to-earnings ratio of 8.31, a P/E/G ratio of 0.32 and a beta of 0.53. Qifu Technology, Inc. has a 1-year low of $18.13 and a 1-year high of $48.94.

Qifu Technology (NASDAQ:QFIN - Get Free Report) last announced its earnings results on Sunday, March 16th. The company reported $1.82 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.68 by $0.14. The firm had revenue of $613.89 million during the quarter, compared to analyst estimates of $581.67 million. Qifu Technology had a net margin of 31.82% and a return on equity of 24.39%. As a group, sell-side analysts forecast that Qifu Technology, Inc. will post 5.71 earnings per share for the current year.

Qifu Technology Increases Dividend

The business also recently declared a semi-annual dividend, which will be paid on Monday, June 2nd. Stockholders 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 23.79%.

Analysts Set New Price Targets

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 report on Wednesday, March 26th.

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.