SIH Partners LLLP Trims Stake in Qifu Technology, Inc. (NASDAQ:QFIN)

SIH Partners LLLP lessened its stake in Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) by 15.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 58,300 shares of the company's stock after selling 10,700 shares during the period. SIH Partners LLLP's holdings in Qifu Technology were worth $2,238,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. GeoWealth Management LLC acquired a new position in shares of Qifu Technology in the 4th quarter valued at $26,000. Jones Financial Companies Lllp bought a new stake in Qifu Technology during the fourth quarter worth about $29,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Qifu Technology during the 3rd quarter worth approximately $30,000. Advisors Preferred LLC bought a new position in shares of Qifu Technology during the 4th quarter worth approximately $41,000. Finally, Global Retirement Partners LLC boosted its stake in shares of Qifu Technology by 80.2% during the 4th quarter. Global Retirement Partners LLC now owns 1,164 shares of the company's stock worth $45,000 after acquiring an additional 518 shares during the period. Institutional investors own 74.81% of the company's stock.

Qifu Technology Trading Down 0.5 %

QFIN traded down $0.19 on Friday, reaching $40.93. The stock had a trading volume of 1,495,083 shares, compared to its average volume of 1,550,447. The firm has a 50-day moving average of $41.03 and a 200-day moving average of $38.35. Qifu Technology, Inc. has a fifty-two week low of $18.13 and a fifty-two week high of $48.94. The company has a market capitalization of $6.45 billion, a price-to-earnings ratio of 8.29, a price-to-earnings-growth ratio of 0.32 and a beta of 0.53.

Qifu Technology (NASDAQ:QFIN - Get Free Report) last released its quarterly earnings data on Sunday, March 16th. The company reported $1.82 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.14. The company had revenue of $613.89 million during the quarter, compared to analyst estimates of $581.67 million. Qifu Technology had a net margin of 31.82% and a return on equity of 24.39%. Sell-side analysts anticipate 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. Stockholders of record on Wednesday, April 23rd will be paid a $0.70 dividend. This is a positive change from Qifu Technology's previous semi-annual dividend of $0.60. The ex-dividend date is Wednesday, April 23rd. This represents a dividend yield of 2.5%. Qifu Technology's dividend payout ratio is presently 23.79%.

Wall Street Analyst Weigh In

Separately, Bank of America boosted their price target 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 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.