Qtron Investments LLC Sells 6,932 Shares of Qifu Technology, Inc. (NASDAQ:QFIN)

Qtron Investments LLC decreased its holdings in Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) by 49.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 6,969 shares of the company's stock after selling 6,932 shares during the period. Qtron Investments LLC's holdings in Qifu Technology were worth $267,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Alliancebernstein L.P. acquired a new position in Qifu Technology in the 4th quarter valued at approximately $92,150,000. Norges Bank bought a new stake in shares of Qifu Technology in the fourth quarter worth $46,579,000. Candriam S.C.A. acquired a new stake in Qifu Technology in the fourth quarter valued at $27,185,000. NS Partners Ltd bought a new position in Qifu Technology during the 4th quarter worth $17,177,000. Finally, National Bank of Canada FI raised its position in Qifu Technology by 184.0% during the 4th quarter. National Bank of Canada FI now owns 610,359 shares of the company's stock worth $23,426,000 after purchasing an additional 395,449 shares during the last quarter. Institutional investors and hedge funds own 74.81% of the company's stock.

Qifu Technology Stock Performance

Shares of NASDAQ:QFIN traded down $0.92 during trading on Friday, reaching $35.62. The stock had a trading volume of 1,392,952 shares, compared to its average volume of 1,537,312. Qifu Technology, Inc. has a 52 week low of $17.95 and a 52 week high of $48.94. The firm's fifty day moving average is $41.55 and its 200 day moving average is $38.03. The stock has a market cap of $5.61 billion, a price-to-earnings ratio of 7.21, a P/E/G ratio of 0.32 and a beta of 0.53.

Qifu Technology (NASDAQ:QFIN - Get Free Report) last issued its quarterly earnings results on Sunday, March 16th. The company reported $1.82 earnings per share for the quarter, topping analysts' consensus estimates of $1.68 by $0.14. The firm had revenue of $613.89 million during 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%. On average, research analysts forecast that Qifu Technology, Inc. will post 5.71 earnings per share for the current fiscal year.

Qifu Technology Increases Dividend

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

Analyst Ratings Changes

Separately, Bank of America increased 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 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.