DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main Sells 222,173 Shares of Qifu Technology, Inc. (NASDAQ:QFIN)

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main decreased its position in shares of Qifu Technology, Inc. (NASDAQ:QFIN) by 68.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 101,568 shares of the company’s stock after selling 222,173 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main owned approximately 0.06% of Qifu Technology worth $3,898,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in QFIN. GeoWealth Management LLC purchased a new position in shares of Qifu Technology in the 4th quarter worth $26,000. Jones Financial Companies Lllp purchased a new position in Qifu Technology in the fourth quarter worth about $29,000. Wilmington Savings Fund Society FSB bought a new stake in Qifu Technology during the third quarter worth approximately $30,000. Advisors Preferred LLC purchased a new stake in Qifu Technology during the fourth quarter valued at approximately $41,000. Finally, Global Retirement Partners LLC lifted its stake in shares of Qifu Technology by 80.2% in the 4th quarter. Global Retirement Partners LLC now owns 1,164 shares of the company’s stock valued at $45,000 after purchasing an additional 518 shares during the last quarter. 74.81% of the stock is owned by institutional investors.

Qifu Technology Trading Down 1.0 %

Qifu Technology stock opened at $42.56 on Friday. The firm has a market capitalization of $6.71 billion, a PE ratio of 8.62, a price-to-earnings-growth ratio of 0.32 and a beta of 0.53. Qifu Technology, Inc. has a 12-month low of $18.13 and a 12-month high of $48.94. The firm has a 50-day moving average price of $41.21 and a 200-day moving average price of $38.94.

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

Qifu Technology Increases Dividend

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

Analyst Upgrades and Downgrades

Separately, Bank of America boosted their target price 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 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.