Qifu Technology, Inc. (NASDAQ:QFIN) Holdings Decreased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. decreased its holdings in shares of Qifu Technology, Inc. (NASDAQ:QFIN) by 7.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,306 shares of the company’s stock after selling 4,046 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Qifu Technology were worth $1,892,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Alliancebernstein L.P. purchased a new position in shares of Qifu Technology during the fourth quarter valued at $92,150,000. Arrowstreet Capital Limited Partnership grew its holdings in shares of Qifu Technology by 10.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,478,319 shares of the company’s stock valued at $56,738,000 after buying an additional 134,326 shares in the last quarter. Norges Bank acquired a new stake in Qifu Technology during the fourth quarter valued at $46,579,000. Connor Clark & Lunn Investment Management Ltd. boosted its position in Qifu Technology by 12.1% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 919,967 shares of the company’s stock valued at $35,308,000 after purchasing an additional 99,624 shares during the last quarter. Finally, Swedbank AB boosted its position in Qifu Technology by 18.7% during the fourth quarter. Swedbank AB now owns 895,300 shares of the company’s stock valued at $34,362,000 after purchasing an additional 141,000 shares during the last quarter. Hedge funds and other institutional investors own 74.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Bank of America lifted their price objective on Qifu Technology from $50.66 to $52.70 and gave the company a “buy” rating in a research report on Wednesday, March 26th.

Qifu Technology Price Performance

Shares of NASDAQ:QFIN opened at $40.93 on Monday. Qifu Technology, Inc. has a fifty-two week low of $18.13 and a fifty-two week high of $48.94. The business has a 50-day moving average of $41.03 and a two-hundred day moving average of $38.35. The stock has a market capitalization of $6.45 billion, a P/E ratio of 8.29, a P/E/G ratio of 0.32 and a beta of 0.53.

Qifu Technology (NASDAQ:QFIN) last announced its quarterly earnings results on Sunday, March 16th. The company reported $1.82 earnings per share for the quarter, topping analysts’ consensus estimates of $1.68 by $0.14. Qifu Technology had a return on equity of 24.39% and a net margin of 31.82%. The company had revenue of $613.89 million during the quarter, compared to analysts’ expectations of $581.67 million. As a group, research analysts expect that Qifu Technology, Inc. will post 5.71 EPS for the current fiscal year.

Qifu Technology Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Monday, June 2nd. Shareholders of record on Wednesday, April 23rd will be issued a $0.70 dividend. The ex-dividend date of this dividend is Wednesday, April 23rd. This represents a yield of 2.5%. This is a positive change from Qifu Technology’s previous semi-annual dividend of $0.60. Qifu Technology’s dividend payout ratio (DPR) is 23.79%.

Qifu Technology Company 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.