Yunqi Capital Ltd Decreases Position in Qifu Technology, Inc. (NASDAQ:QFIN)

Yunqi Capital Ltd lowered its stake in Qifu Technology, Inc. (NASDAQ:QFIN) by 33.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,678,330 shares of the company’s stock after selling 1,335,000 shares during the quarter. Qifu Technology comprises 29.7% of Yunqi Capital Ltd’s portfolio, making the stock its biggest holding. Yunqi Capital Ltd owned 1.66% of Qifu Technology worth $42,371,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Canada Pension Plan Investment Board grew its holdings in Qifu Technology by 138.5% during the 3rd quarter. Canada Pension Plan Investment Board now owns 470,910 shares of the company’s stock valued at $7,233,000 after buying an additional 273,500 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of Qifu Technology by 17.2% during the 3rd quarter. American Century Companies Inc. now owns 379,186 shares of the company’s stock worth $5,824,000 after acquiring an additional 55,766 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Qifu Technology by 96.0% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 329,454 shares of the company’s stock worth $5,060,000 after acquiring an additional 161,361 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its position in Qifu Technology by 131.7% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 266,536 shares of the company’s stock valued at $4,094,000 after purchasing an additional 151,510 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its position in Qifu Technology by 18.5% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 243,658 shares of the company’s stock valued at $3,855,000 after purchasing an additional 38,095 shares in the last quarter. Hedge funds and other institutional investors own 74.81% of the company’s stock.

Analysts Set New Price Targets

Separately, Citigroup boosted their target price on Qifu Technology from $23.54 to $23.80 and gave the stock a “buy” rating in a research note on Thursday, March 14th.

Qifu Technology Price Performance

Qifu Technology stock traded up $0.22 during trading hours on Tuesday, hitting $18.51. 1,016,337 shares of the stock traded hands, compared to its average volume of 1,090,862. The firm’s 50 day moving average price is $17.46 and its 200-day moving average price is $15.94. The stock has a market capitalization of $2.99 billion, a price-to-earnings ratio of 5.06, a P/E/G ratio of 0.42 and a beta of 0.62. Qifu Technology, Inc. has a 1 year low of $13.12 and a 1 year high of $20.61.

Qifu Technology (NASDAQ:QFIN) last issued its quarterly earnings data on Tuesday, March 12th. The company reported $0.96 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.96. The business had revenue of $633.18 million during the quarter, compared to analysts’ expectations of $597.09 million. Qifu Technology had a return on equity of 20.44% and a net margin of 26.29%. Research analysts forecast that Qifu Technology, Inc. will post 4.31 earnings per share for the current fiscal year.

Qifu Technology Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Friday, May 24th. Stockholders of record on Monday, April 15th will be issued a $0.57 dividend. This represents a dividend yield of 5.7%. The ex-dividend date is Friday, April 12th. This is a boost from Qifu Technology’s previous semi-annual dividend of $0.50. Qifu Technology’s payout ratio is 31.15%.

About Qifu Technology

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.