Lazard Asset Management LLC Sells 74,199 Shares of Qifu Technology, Inc. (NASDAQ:QFIN)

Lazard Asset Management LLC cut its holdings in Qifu Technology, Inc. (NASDAQ:QFIN) by 8.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 806,746 shares of the company’s stock after selling 74,199 shares during the period. Lazard Asset Management LLC owned 0.51% of Qifu Technology worth $30,962,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of QFIN. Alliancebernstein L.P. bought a new position in Qifu Technology in the 4th quarter worth approximately $92,150,000. Norges Bank bought a new position in Qifu Technology in the 4th quarter worth approximately $46,579,000. Candriam S.C.A. bought a new position in Qifu Technology in the 4th quarter worth approximately $27,185,000. Aspex Management HK Ltd boosted its holdings in Qifu Technology by 11.3% in the 4th quarter. Aspex Management HK Ltd now owns 6,371,808 shares of the company’s stock worth $244,550,000 after buying an additional 648,088 shares during the period. Finally, Marshall Wace LLP boosted its holdings in Qifu Technology by 67.5% in the 4th quarter. Marshall Wace LLP now owns 1,351,277 shares of the company’s stock worth $51,862,000 after buying an additional 544,666 shares during the period. 74.81% of the stock is owned by institutional investors.

Qifu Technology Price Performance

NASDAQ QFIN opened at $45.45 on Tuesday. Qifu Technology, Inc. has a 1 year low of $18.13 and a 1 year high of $48.94. The stock has a market capitalization of $7.16 billion, a PE ratio of 9.20, a P/E/G ratio of 0.32 and a beta of 0.53. The company’s 50 day simple moving average is $41.25 and its two-hundred day simple moving average is $39.05.

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

Qifu Technology Increases Dividend

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

Wall Street Analysts Forecast Growth

Separately, Bank of America raised their price objective 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.

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.