Point72 Asset Management L.P. Trims Holdings in Qifu Technology, Inc. (NASDAQ:QFIN)

Point72 Asset Management L.P. trimmed its position in Qifu Technology, Inc. (NASDAQ:QFIN) by 89.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,300 shares of the company’s stock after selling 147,800 shares during the quarter. Point72 Asset Management L.P.’s holdings in Qifu Technology were worth $664,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Point72 Hong Kong Ltd raised its stake in shares of Qifu Technology by 12.3% in the fourth quarter. Point72 Hong Kong Ltd now owns 601,579 shares of the company’s stock worth $23,089,000 after purchasing an additional 66,081 shares during the last quarter. Quantinno Capital Management LP lifted its holdings in Qifu Technology by 8.5% in the fourth quarter. Quantinno Capital Management LP now owns 17,848 shares of the company’s stock valued at $685,000 after acquiring an additional 1,392 shares during the period. MY.Alpha Management HK Advisors Ltd acquired a new position in Qifu Technology in the fourth quarter valued at approximately $17,793,000. Man Group plc lifted its holdings in Qifu Technology by 10.4% in the fourth quarter. Man Group plc now owns 1,529,897 shares of the company’s stock valued at $58,717,000 after acquiring an additional 144,328 shares during the period. Finally, Nuveen Asset Management LLC lifted its holdings in Qifu Technology by 0.5% in the fourth quarter. Nuveen Asset Management LLC now owns 242,000 shares of the company’s stock valued at $9,288,000 after acquiring an additional 1,100 shares during the period. 74.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Qifu Technology Trading Up 1.1%

Shares of NASDAQ:QFIN opened at $42.96 on Friday. Qifu Technology, Inc. has a 12-month low of $18.13 and a 12-month high of $48.94. The company has a market capitalization of $6.77 billion, a PE ratio of 8.70, a PEG ratio of 0.32 and a beta of 0.53. The business has a 50 day moving average of $41.67 and a two-hundred day moving average of $39.56.

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

Qifu Technology Increases Dividend

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