APG Asset Management N.V. Sells 45,771 Shares of Qifu Technology, Inc. (NASDAQ:QFIN)

APG Asset Management N.V. decreased its stake in shares of Qifu Technology, Inc. (NASDAQ:QFIN) by 32.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 96,700 shares of the company’s stock after selling 45,771 shares during the period. APG Asset Management N.V. owned 0.06% of Qifu Technology worth $1,780,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Hsbc Holdings PLC lifted its position in shares of Qifu Technology by 171.6% during the fourth quarter. Hsbc Holdings PLC now owns 336,360 shares of the company’s stock worth $5,321,000 after purchasing an additional 212,496 shares in the last quarter. Parallel Advisors LLC raised its position in Qifu Technology by 83.9% in the 4th quarter. Parallel Advisors LLC now owns 2,426 shares of the company’s stock worth $38,000 after purchasing an additional 1,107 shares during the last quarter. Campbell & CO Investment Adviser LLC acquired a new position in Qifu Technology during the 4th quarter worth $794,000. Sompo Asset Management Co. Ltd. boosted its position in Qifu Technology by 2.4% in the 4th quarter. Sompo Asset Management Co. Ltd. now owns 38,500 shares of the company’s stock valued at $609,000 after buying an additional 890 shares during the last quarter. Finally, Tiger Pacific Capital LP increased its stake in shares of Qifu Technology by 10.0% in the 4th quarter. Tiger Pacific Capital LP now owns 2,870,710 shares of the company’s stock valued at $45,415,000 after buying an additional 260,306 shares during the period. Institutional investors own 74.81% of the company’s stock.

Qifu Technology Stock Up 0.8 %

Shares of QFIN opened at $29.81 on Tuesday. The stock’s fifty day simple moving average is $23.56 and its 200-day simple moving average is $20.95. The firm has a market capitalization of $4.81 billion, a PE ratio of 7.72, a price-to-earnings-growth ratio of 0.47 and a beta of 0.61. Qifu Technology, Inc. has a 12-month low of $13.68 and a 12-month high of $31.82.

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

Qifu Technology Increases Dividend

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