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

Lazard Asset Management LLC lowered its stake in Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) by 8.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 806,746 shares of the company's stock after selling 74,199 shares during the period. Lazard Asset Management LLC owned approximately 0.51% of Qifu Technology worth $30,962,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in QFIN. GeoWealth Management LLC bought a new position in shares of Qifu Technology in the fourth quarter worth about $26,000. Jones Financial Companies Lllp bought a new position in shares of Qifu Technology in the fourth quarter worth about $29,000. Wilmington Savings Fund Society FSB bought a new position in Qifu Technology during the third quarter valued at about $30,000. Advisors Preferred LLC bought a new position in Qifu Technology during the fourth quarter valued at about $41,000. Finally, Global Retirement Partners LLC increased its stake in Qifu Technology by 80.2% during the fourth 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 during the period. 74.81% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Bank of America upped their price objective on Qifu Technology from $50.66 to $52.70 and gave the company a "buy" rating in a research note on Wednesday, March 26th.

Qifu Technology Stock Performance

QFIN traded up $0.06 during mid-day trading on Friday, reaching $44.27. The stock had a trading volume of 1,406,244 shares, compared to its average volume of 1,563,469. The firm's fifty day simple moving average is $41.62 and its two-hundred day simple moving average is $39.36. The stock has a market capitalization of $6.98 billion, a P/E ratio of 8.96, 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 issued its quarterly earnings data on Sunday, March 16th. The company reported $1.82 EPS for the quarter, topping the consensus estimate of $1.68 by $0.14. The business had revenue of $613.89 million for 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%. As a group, analysts expect that Qifu Technology, Inc. will post 5.71 EPS for the current fiscal year.

Qifu Technology Increases Dividend

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

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.