Qifu Technology (NASDAQ:QFIN) Stock Price Down 2.5%

Shares of Qifu Technology, Inc. (NASDAQ:QFIN - Get Free Report) traded down 2.5% during trading on Tuesday . The stock traded as low as $20.45 and last traded at $20.46. 51,827 shares changed hands during trading, a decline of 95% from the average session volume of 1,089,533 shares. The stock had previously closed at $20.98.

Analysts Set New Price Targets

Separately, Citigroup lifted their price target on Qifu Technology from $23.54 to $23.80 and gave the company a "buy" rating in a report on Thursday, March 14th.

Qifu Technology Stock Performance

The stock has a market cap of $3.34 billion, a P/E ratio of 5.63, a PEG ratio of 0.49 and a beta of 0.57. The firm's 50-day moving average is $18.59 and its two-hundred day moving average is $16.34.

Qifu Technology (NASDAQ:QFIN - Get Free Report) last issued its quarterly earnings results on Tuesday, March 12th. The company reported $0.96 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.96. The business had revenue of $633.18 million for the quarter, compared to analyst estimates of $597.09 million. Qifu Technology had a return on equity of 20.44% and a net margin of 26.29%. As a group, research analysts forecast that Qifu Technology, Inc. will post 4.31 EPS for the current year.

Qifu Technology Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Friday, May 24th. Stockholders of record on Monday, April 15th will be given a dividend of $0.57 per share. This is a boost from Qifu Technology's previous semi-annual dividend of $0.50. The ex-dividend date is Friday, April 12th. This represents a dividend yield of 5.7%. Qifu Technology's payout ratio is currently 31.15%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Sompo Asset Management Co. Ltd. lifted its holdings in Qifu Technology by 2.4% during the fourth quarter. Sompo Asset Management Co. Ltd. now owns 38,500 shares of the company's stock worth $609,000 after acquiring an additional 890 shares in the last quarter. Parallel Advisors LLC lifted its holdings in shares of Qifu Technology by 83.9% during the 4th quarter. Parallel Advisors LLC now owns 2,426 shares of the company's stock valued at $38,000 after purchasing an additional 1,107 shares in the last quarter. Handelsinvest Investeringsforvaltning grew its position in shares of Qifu Technology by 14.3% in the 1st quarter. Handelsinvest Investeringsforvaltning now owns 10,828 shares of the company's stock valued at $200,000 after purchasing an additional 1,353 shares during the period. Janiczek Wealth Management LLC increased its stake in Qifu Technology by 131.4% during the 1st quarter. Janiczek Wealth Management LLC now owns 2,386 shares of the company's stock worth $44,000 after purchasing an additional 1,355 shares in the last quarter. Finally, abrdn plc raised its holdings in Qifu Technology by 1.8% during the 3rd quarter. abrdn plc now owns 86,850 shares of the company's stock worth $1,334,000 after buying an additional 1,519 shares during the period. Institutional investors and hedge funds own 74.81% of the company's stock.

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.