Zurcher Kantonalbank Zurich Cantonalbank Sells 114,670 Shares of Qifu Technology, Inc. (NASDAQ:QFIN)

Zurcher Kantonalbank Zurich Cantonalbank trimmed its holdings in shares of Qifu Technology, Inc. (NASDAQ:QFIN) by 59.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,596 shares of the company’s stock after selling 114,670 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Qifu Technology were worth $1,243,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. abrdn plc grew its holdings in Qifu Technology by 1.8% during the 3rd quarter. abrdn plc now owns 86,850 shares of the company’s stock worth $1,334,000 after acquiring an additional 1,519 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Qifu Technology by 17.2% during the third quarter. American Century Companies Inc. now owns 379,186 shares of the company’s stock valued at $5,824,000 after buying an additional 55,766 shares during the last quarter. Altfest L J & Co. Inc. lifted its position in shares of Qifu Technology by 16.0% during the fourth quarter. Altfest L J & Co. Inc. now owns 22,960 shares of the company’s stock valued at $363,000 after buying an additional 3,171 shares during the last quarter. QRG Capital Management Inc. purchased a new stake in shares of Qifu Technology during the third quarter valued at about $351,000. Finally, Canada Pension Plan Investment Board lifted its position in shares of Qifu Technology by 138.5% during the third 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 during the last quarter. 74.81% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Citigroup increased their price target on shares of Qifu Technology from $23.54 to $23.80 and gave the company a “buy” rating in a research report on Thursday, March 14th.

Qifu Technology Stock Performance

QFIN stock opened at $18.52 on Friday. The firm has a market cap of $2.99 billion, a price-to-earnings ratio of 5.06, a PEG ratio of 0.44 and a beta of 0.62. The firm has a 50-day simple moving average of $17.67 and a two-hundred day simple moving average of $16.00. Qifu Technology, Inc. has a one year low of $13.12 and a one year high of $20.61.

Qifu Technology (NASDAQ:QFIN) last announced its quarterly earnings data on Tuesday, March 12th. The company reported $0.96 EPS for the quarter, meeting the consensus estimate of $0.96. The firm had revenue of $633.18 million during the quarter, compared to analyst estimates of $597.09 million. Qifu Technology had a net margin of 26.29% and a return on equity of 20.44%. As a group, equities analysts predict 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. Investors of record on Monday, April 15th will be given a $0.57 dividend. This is a positive change from Qifu Technology’s previous semi-annual dividend of $0.50. This represents a dividend yield of 5.7%. The ex-dividend date is Friday, April 12th. Qifu Technology’s dividend payout ratio (DPR) is presently 31.15%.

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.