Qifu Technology, Inc. (NASDAQ:QFIN) Position Reduced by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. cut its position in shares of Qifu Technology, Inc. (NASDAQ:QFIN) by 5.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 22,640 shares of the company’s stock after selling 1,231 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Qifu Technology were worth $358,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Altfest L J & Co. Inc. lifted its position in shares of Qifu Technology by 16.0% in the fourth quarter. Altfest L J & Co. Inc. now owns 22,960 shares of the company’s stock worth $363,000 after purchasing an additional 3,171 shares in the last quarter. SG Americas Securities LLC grew its holdings in Qifu Technology by 69.5% during the fourth quarter. SG Americas Securities LLC now owns 43,718 shares of the company’s stock valued at $692,000 after purchasing an additional 17,922 shares during the last quarter. Handelsinvest Investeringsforvaltning acquired a new position in Qifu Technology during the fourth quarter valued at approximately $150,000. American Century Companies Inc. grew its holdings in Qifu Technology by 17.2% during the third quarter. American Century Companies Inc. now owns 379,186 shares of the company’s stock valued at $5,824,000 after purchasing an additional 55,766 shares during the last quarter. Finally, Employees Retirement System of Texas acquired a new position in Qifu Technology during the third quarter valued at approximately $51,000. 74.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Citigroup increased their price target on Qifu Technology from $23.54 to $23.80 and gave the company a “buy” rating in a report on Thursday, March 14th.

Qifu Technology Trading Down 1.9 %

Shares of Qifu Technology stock opened at $18.52 on Friday. The company’s fifty day simple moving average is $17.67 and its 200-day simple moving average is $15.99. The company has a market cap of $2.99 billion, a price-to-earnings ratio of 5.06, a PEG ratio of 0.44 and a beta of 0.62. Qifu Technology, Inc. has a 1 year low of $13.12 and a 1 year high of $20.61.

Qifu Technology (NASDAQ:QFIN) last announced its quarterly earnings data on Tuesday, March 12th. The company reported $0.96 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.96. The business had revenue of $633.18 million for the quarter, compared to the consensus estimate of $597.09 million. Qifu Technology had a net margin of 26.29% and a return on equity of 20.44%. As a group, research analysts forecast that Qifu Technology, Inc. will post 4.31 earnings per share for the current fiscal year.

Qifu Technology Increases Dividend

The company also recently announced a semi-annual dividend, which will be paid on Friday, May 24th. Investors of record on Monday, April 15th will be given a $0.57 dividend. This is a boost from Qifu Technology’s previous semi-annual dividend of $0.50. This represents a yield of 5.7%. The ex-dividend date of this dividend is Friday, April 12th. Qifu Technology’s dividend payout ratio (DPR) is 31.15%.

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.