Lazard Asset Management LLC Sells 74,199 Shares of Qifu Technology, Inc. (NASDAQ:QFIN)

Lazard Asset Management LLC decreased its position in Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) by 8.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 806,746 shares of the company's stock after selling 74,199 shares during the period. Lazard Asset Management LLC owned 0.51% of Qifu Technology worth $30,962,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Asset Management One Co. Ltd. grew its holdings in shares of Qifu Technology by 66.8% in the 4th quarter. Asset Management One Co. Ltd. now owns 32,873 shares of the company's stock valued at $1,255,000 after acquiring an additional 13,170 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Qifu Technology during the 4th quarter worth approximately $298,000. KBC Group NV raised its stake in shares of Qifu Technology by 279.6% during the 4th quarter. KBC Group NV now owns 35,381 shares of the company's stock worth $1,358,000 after purchasing an additional 26,061 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Qifu Technology by 4,272.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 7,302 shares of the company's stock valued at $280,000 after buying an additional 7,135 shares in the last quarter. Finally, New York State Common Retirement Fund increased its holdings in Qifu Technology by 30.8% during the fourth quarter. New York State Common Retirement Fund now owns 396,570 shares of the company's stock worth $15,220,000 after buying an additional 93,409 shares during the last quarter. Institutional investors own 74.81% of the company's stock.

Qifu Technology Stock Up 0.1%

Shares of NASDAQ QFIN traded up $0.06 during midday trading on Friday, hitting $44.27. 1,406,244 shares of the company's stock were exchanged, compared to its average volume of 1,562,579. The company's 50 day moving average price is $41.62 and its 200 day moving average price is $39.27. The firm has a market capitalization of $6.98 billion, a PE ratio of 8.96, a price-to-earnings-growth ratio of 0.32 and a beta of 0.53. Qifu Technology, Inc. has a 12 month low of $18.13 and a 12 month high of $48.94.

Qifu Technology (NASDAQ:QFIN - Get Free Report) last released its quarterly earnings results on Sunday, March 16th. The company reported $1.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $0.14. The business had revenue of $613.89 million during the quarter, compared to the consensus estimate of $581.67 million. Qifu Technology had a return on equity of 24.39% and a net margin of 31.82%. On average, equities research analysts anticipate that Qifu Technology, Inc. will post 5.71 EPS 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. Shareholders of record on Wednesday, April 23rd will be issued a $0.70 dividend. This represents a yield of 2.5%. The ex-dividend date of this dividend is Wednesday, April 23rd. This is a boost from Qifu Technology's previous semi-annual dividend of $0.60. Qifu Technology's dividend payout ratio is presently 23.79%.

Analyst Ratings Changes

Separately, Bank of America boosted their target price on shares of Qifu Technology from $50.66 to $52.70 and gave the stock a "buy" rating in a 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.