LMR Partners LLP Sells 23,289 Shares of Qifu Technology, Inc. (NASDAQ:QFIN)

LMR Partners LLP trimmed its stake in Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) by 75.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,527 shares of the company's stock after selling 23,289 shares during the period. LMR Partners LLP's holdings in Qifu Technology were worth $289,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of QFIN. Franklin Resources Inc. grew its position in Qifu Technology by 12.9% in the 3rd quarter. Franklin Resources Inc. now owns 61,616 shares of the company's stock worth $2,031,000 after purchasing an additional 7,033 shares during the last quarter. HB Wealth Management LLC bought a new position in shares of Qifu Technology during the 4th quarter worth about $230,000. Artemis Investment Management LLP bought a new position in shares of Qifu Technology during the 4th quarter worth about $12,493,000. Diversify Wealth Management LLC lifted its holdings in shares of Qifu Technology by 19.6% during the 4th quarter. Diversify Wealth Management LLC now owns 33,941 shares of the company's stock worth $1,225,000 after acquiring an additional 5,552 shares during the period. Finally, Atomi Financial Group Inc. bought a new position in shares of Qifu Technology during the 4th quarter worth about $202,000. 74.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Bank of America raised their price objective 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 Stock Performance

Shares of NASDAQ:QFIN traded down $1.33 during midday trading on Tuesday, reaching $42.62. 796,118 shares of the company's stock were exchanged, compared to its average volume of 1,562,078. The company's 50 day simple moving average is $41.69 and its two-hundred day simple moving average is $39.44. The firm has a market capitalization of $6.72 billion, a PE ratio of 8.65, 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 announced 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. Qifu Technology had a net margin of 31.82% and a return on equity of 24.39%. The firm had revenue of $613.89 million during the quarter, compared to the consensus estimate of $581.67 million. On average, research analysts anticipate that Qifu Technology, Inc. will post 5.71 earnings per share for the current year.

Qifu Technology Increases Dividend

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

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.