Point72 Hong Kong Ltd Sells 51,747 Shares of Qifu Technology, Inc. (NASDAQ:QFIN)

Point72 Hong Kong Ltd reduced its holdings in shares of Qifu Technology, Inc. (NASDAQ:QFIN) by 34.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 98,616 shares of the company’s stock after selling 51,747 shares during the quarter. Point72 Hong Kong Ltd owned approximately 0.06% of Qifu Technology worth $1,946,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Ashton Thomas Private Wealth LLC purchased a new position in shares of Qifu Technology in the 2nd quarter worth about $31,000. Blue Trust Inc. boosted its stake in Qifu Technology by 598.4% in the second quarter. Blue Trust Inc. now owns 1,732 shares of the company’s stock valued at $32,000 after acquiring an additional 1,484 shares during the last quarter. Janiczek Wealth Management LLC grew its position in shares of Qifu Technology by 131.4% during the 1st quarter. Janiczek Wealth Management LLC now owns 2,386 shares of the company’s stock valued at $44,000 after acquiring an additional 1,355 shares during the period. Parallel Advisors LLC grew its position in shares of Qifu Technology by 83.9% during the 4th quarter. Parallel Advisors LLC now owns 2,426 shares of the company’s stock valued at $38,000 after acquiring an additional 1,107 shares during the period. Finally, BOCHK Asset Management Ltd purchased a new stake in shares of Qifu Technology during the 4th quarter worth approximately $95,000. Hedge funds and other institutional investors own 74.81% of the company’s stock.

Qifu Technology Trading Down 3.2 %

Qifu Technology stock opened at $26.69 on Thursday. The business’s 50 day simple moving average is $23.16 and its 200 day simple moving average is $20.74. Qifu Technology, Inc. has a 12 month low of $13.68 and a 12 month high of $27.60. The company has a market cap of $4.31 billion, a price-to-earnings ratio of 6.91, a PEG ratio of 0.44 and a beta of 0.61.

Qifu Technology (NASDAQ:QFIN) last issued its quarterly earnings results on Tuesday, August 13th. The company reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.23. Qifu Technology had a return on equity of 21.82% and a net margin of 28.06%. The firm had revenue of $572.44 million for the quarter, compared to analysts’ expectations of $582.69 million. As a group, equities research analysts forecast that Qifu Technology, Inc. will post 4.94 earnings per share for the current fiscal year.

Qifu Technology Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, September 27th will be given a dividend of $0.60 per share. This represents a yield of 4.7%. The ex-dividend date of this dividend is Friday, September 27th. This is a positive change from Qifu Technology’s previous semi-annual dividend of $0.57. Qifu Technology’s dividend payout ratio (DPR) is currently 29.53%.

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.