Qifu Technology, Inc. (NASDAQ:QFIN) Stake Trimmed by OLP CAPITAL MANAGEMENT Ltd

OLP CAPITAL MANAGEMENT Ltd cut its holdings in Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) by 0.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,577,023 shares of the company's stock after selling 14,745 shares during the period. Qifu Technology comprises about 36.8% of OLP CAPITAL MANAGEMENT Ltd's holdings, making the stock its largest position. OLP CAPITAL MANAGEMENT Ltd owned about 4.81% of Qifu Technology worth $290,806,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in QFIN. GeoWealth Management LLC purchased a new position in Qifu Technology in the fourth quarter valued at approximately $26,000. Jones Financial Companies Lllp acquired a new stake in shares of Qifu Technology during the fourth quarter worth approximately $29,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Qifu Technology during the third quarter worth approximately $30,000. Advisors Preferred LLC acquired a new stake in shares of Qifu Technology during the fourth quarter worth approximately $41,000. Finally, Global Retirement Partners LLC boosted its holdings in Qifu Technology by 80.2% in the fourth quarter. Global Retirement Partners LLC now owns 1,164 shares of the company's stock worth $45,000 after purchasing an additional 518 shares during the period. 74.81% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Bank of America lifted 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 Up 0.1%

QFIN stock traded up $0.06 during mid-day trading on Friday, reaching $44.27. The company had a trading volume of 1,406,244 shares, compared to its average volume of 1,563,469. 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 one year low of $18.13 and a one year high of $48.94. The stock's 50-day simple moving average is $41.62 and its two-hundred day simple moving average is $39.31.

Qifu Technology (NASDAQ:QFIN - Get Free Report) last issued its quarterly earnings data on Sunday, March 16th. The company reported $1.82 earnings per share for the quarter, beating analysts' consensus estimates of $1.68 by $0.14. Qifu Technology had a net margin of 31.82% and a return on equity of 24.39%. The business had revenue of $613.89 million for the quarter, compared to analysts' expectations of $581.67 million. On average, research analysts forecast that Qifu Technology, Inc. will post 5.71 EPS for the current fiscal year.

Qifu Technology Increases Dividend

The company also recently announced 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 a positive change 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 payout ratio is presently 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.