Dorsey Wright & Associates Trims Holdings in Qifu Technology, Inc. (NASDAQ:QFIN)

Dorsey Wright & Associates trimmed its holdings in shares of Qifu Technology, Inc. (NASDAQ:QFIN) by 21.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 102,906 shares of the company’s stock after selling 28,906 shares during the quarter. Dorsey Wright & Associates’ holdings in Qifu Technology were worth $3,950,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Norges Bank bought a new position in Qifu Technology in the 4th quarter worth about $46,579,000. Candriam S.C.A. bought a new position in Qifu Technology in the fourth quarter worth approximately $27,185,000. NS Partners Ltd purchased a new position in Qifu Technology during the 4th quarter worth $17,177,000. Point72 Hong Kong Ltd raised its position in Qifu Technology by 443.0% during the 3rd quarter. Point72 Hong Kong Ltd now owns 535,498 shares of the company’s stock valued at $15,963,000 after purchasing an additional 436,882 shares in the last quarter. Finally, Sei Investments Co. lifted its holdings in shares of Qifu Technology by 100.8% in the 4th quarter. Sei Investments Co. now owns 675,813 shares of the company’s stock worth $25,938,000 after buying an additional 339,234 shares during the period. 74.81% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Bank of America raised 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.

Qifu Technology Stock Performance

Shares of QFIN opened at $45.43 on Friday. The company has a 50 day moving average price of $42.25 and a 200-day moving average price of $36.78. Qifu Technology, Inc. has a fifty-two week low of $17.76 and a fifty-two week high of $48.94. The stock has a market capitalization of $7.16 billion, a PE ratio of 9.20, a PEG ratio of 0.32 and a beta of 0.59.

Qifu Technology (NASDAQ:QFIN) last posted its 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. Qifu Technology had a return on equity of 24.39% and a net margin of 31.82%. The company 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 business also recently announced a semi-annual dividend, which will be paid on Monday, June 2nd. Shareholders of record on Wednesday, April 23rd will be paid a $0.70 dividend. This represents a yield of 2.5%. The ex-dividend date is Wednesday, April 23rd. This is a positive change from Qifu Technology’s previous semi-annual dividend of $0.60. 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.