Vanguard Group Inc. Has $174.32 Million Position in Qifu Technology, Inc. (NASDAQ:QFIN)

Vanguard Group Inc. decreased its stake in Qifu Technology, Inc. (NASDAQ:QFIN) by 2.5% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 4,541,830 shares of the company’s stock after selling 118,746 shares during the period. Vanguard Group Inc.’s holdings in Qifu Technology were worth $174,315,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in QFIN. State Street Corp increased its position in shares of Qifu Technology by 5.8% during the third quarter. State Street Corp now owns 2,324,831 shares of the company’s stock worth $70,637,000 after buying an additional 128,381 shares during the period. Geode Capital Management LLC boosted its position in Qifu Technology by 3.2% during the third quarter. Geode Capital Management LLC now owns 1,309,635 shares of the company’s stock valued at $38,866,000 after acquiring an additional 41,139 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in Qifu Technology by 12.1% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 919,967 shares of the company’s stock valued at $35,308,000 after acquiring an additional 99,624 shares during the last quarter. Swedbank AB grew its holdings in Qifu Technology by 18.7% during the 4th quarter. Swedbank AB now owns 895,300 shares of the company’s stock worth $34,362,000 after acquiring an additional 141,000 shares during the period. Finally, Candriam S.C.A. bought a new position in shares of Qifu Technology in the 4th quarter worth about $27,185,000. 74.81% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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 Trading Down 12.0 %

Shares of NASDAQ QFIN opened at $38.25 on Monday. The firm has a market capitalization of $6.03 billion, a P/E ratio of 7.74, a P/E/G ratio of 0.32 and a beta of 0.53. The firm’s 50-day moving average price is $42.69 and its 200-day moving average price is $37.51. Qifu Technology, Inc. has a 1-year low of $17.76 and a 1-year high of $48.94.

Qifu Technology (NASDAQ:QFIN) last announced its quarterly earnings results on Sunday, March 16th. The company reported $1.82 EPS 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 during the quarter, compared to analyst estimates of $581.67 million. Equities research analysts forecast that Qifu Technology, Inc. will post 5.71 EPS 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. The ex-dividend date of this dividend is Wednesday, April 23rd. This is a boost from Qifu Technology’s previous semi-annual dividend of $0.60. This represents a yield of 2.5%. Qifu Technology’s payout ratio is 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.