Qifu Technology, Inc. (NASDAQ:QFIN) Position Reduced by SG Americas Securities LLC

SG Americas Securities LLC trimmed its stake in shares of Qifu Technology, Inc. (NASDAQ:QFIN) by 54.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,282 shares of the company’s stock after selling 35,292 shares during the quarter. SG Americas Securities LLC’s holdings in Qifu Technology were worth $1,315,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Yousif Capital Management LLC acquired a new stake in shares of Qifu Technology during the first quarter worth $209,000. Myriad Asset Management US LP acquired a new stake in shares of Qifu Technology during the first quarter worth $2,314,000. Mackenzie Financial Corp raised its holdings in shares of Qifu Technology by 48.6% during the fourth quarter. Mackenzie Financial Corp now owns 483,387 shares of the company’s stock worth $18,552,000 after purchasing an additional 158,013 shares during the period. GF Fund Management CO. LTD. acquired a new stake in shares of Qifu Technology during the fourth quarter worth $8,736,000. Finally, Public Employees Retirement System of Ohio raised its holdings in shares of Qifu Technology by 43.3% during the fourth quarter. Public Employees Retirement System of Ohio now owns 407,993 shares of the company’s stock worth $15,659,000 after purchasing an additional 123,292 shares during the period. 74.81% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on QFIN shares. Wall Street Zen cut shares of Qifu Technology from a “strong-buy” rating to a “buy” rating in a report on Sunday, June 1st. Bank of America increased their target price on shares of Qifu Technology from $50.66 to $52.70 and gave the stock a “buy” rating in a report on Wednesday, March 26th.

Qifu Technology Stock Up 2.3%

Shares of NASDAQ:QFIN opened at $42.66 on Tuesday. The company’s 50-day moving average price is $41.21 and its 200 day moving average price is $40.66. The company has a market cap of $6.72 billion, a PE ratio of 8.64, a P/E/G ratio of 0.32 and a beta of 0.49. Qifu Technology, Inc. has a fifty-two week low of $18.13 and a fifty-two week high of $48.94.

Qifu Technology (NASDAQ:QFIN) last announced its quarterly earnings results on Monday, May 19th. The company reported $1.74 EPS for the quarter, beating the consensus estimate of $1.72 by $0.02. Qifu Technology had a net margin of 31.82% and a return on equity of 24.39%. The company had revenue of $646.19 million for the quarter, compared to analyst estimates of $4.61 billion. As a group, equities analysts anticipate that Qifu Technology, Inc. will post 5.71 EPS for the current year.

Qifu Technology Increases Dividend

The company also recently declared a semi-annual dividend, which was paid on Monday, June 2nd. Shareholders of record on Wednesday, April 23rd were paid a $0.70 dividend. The ex-dividend date was Wednesday, April 23rd. This represents a dividend 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 presently 21.17%.

About Qifu Technology

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.