abrdn plc trimmed its holdings in Qifu Technology, Inc. (NASDAQ:QFIN – Free Report) by 5.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 82,083 shares of the company’s stock after selling 4,767 shares during the quarter. abrdn plc’s holdings in Qifu Technology were worth $1,299,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Employees Retirement System of Texas bought a new position in Qifu Technology in the 3rd quarter valued at about $51,000. Clear Street Markets LLC purchased a new stake in shares of Qifu Technology in the third quarter worth approximately $58,000. Quantbot Technologies LP boosted its position in shares of Qifu Technology by 60.0% during the third quarter. Quantbot Technologies LP now owns 7,437 shares of the company’s stock valued at $114,000 after buying an additional 2,789 shares during the last quarter. Handelsinvest Investeringsforvaltning bought a new stake in Qifu Technology during the fourth quarter worth $150,000. Finally, Fox Run Management L.L.C. purchased a new stake in Qifu Technology in the 3rd quarter valued at $218,000. 74.81% of the stock is currently owned by institutional investors and hedge funds.
Qifu Technology Stock Up 0.2 %
Shares of NASDAQ QFIN opened at $18.56 on Tuesday. The company has a market capitalization of $3.00 billion, a PE ratio of 5.07, a PEG ratio of 0.43 and a beta of 0.62. The stock’s 50 day moving average price is $17.73 and its 200-day moving average price is $16.00. Qifu Technology, Inc. has a twelve month low of $13.12 and a twelve month high of $20.61.
Qifu Technology Increases Dividend
The business also recently declared a semi-annual dividend, which will be paid on Friday, May 24th. Investors of record on Monday, April 15th will be issued a $0.57 dividend. This is an increase from Qifu Technology’s previous semi-annual dividend of $0.50. This represents a dividend yield of 5.7%. The ex-dividend date of this dividend is Friday, April 12th. Qifu Technology’s payout ratio is 31.15%.
Analyst Upgrades and Downgrades
Separately, Citigroup lifted their price objective on shares of Qifu Technology from $23.54 to $23.80 and gave the stock a “buy” rating in a report on Thursday, March 14th.
Check Out Our Latest Stock Analysis on QFIN
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.
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