DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main Cuts Stock Holdings in Qifu Technology, Inc. (NASDAQ:QFIN)

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lowered its holdings in Qifu Technology, Inc. (NASDAQ:QFIN) by 68.6% in the 4th quarter, HoldingsChannel reports. The firm owned 101,568 shares of the company’s stock after selling 222,173 shares during the quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main’s holdings in Qifu Technology were worth $3,898,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of QFIN. GeoWealth Management LLC purchased a new stake in shares of Qifu Technology during the fourth quarter valued at about $26,000. Jones Financial Companies Lllp purchased a new stake in Qifu Technology during the fourth quarter valued at approximately $29,000. Wilmington Savings Fund Society FSB acquired a new stake in Qifu Technology in the third quarter valued at approximately $30,000. Advisors Preferred LLC acquired a new stake in Qifu Technology in the fourth quarter valued at approximately $41,000. Finally, Global Retirement Partners LLC grew its holdings in Qifu Technology by 80.2% in the fourth quarter. Global Retirement Partners LLC now owns 1,164 shares of the company’s stock worth $45,000 after purchasing an additional 518 shares during the last quarter. Hedge funds and other institutional investors own 74.81% of the company’s stock.

Qifu Technology Stock Down 1.0 %

QFIN opened at $42.56 on Friday. The company has a market cap of $6.71 billion, a P/E ratio of 8.62, a price-to-earnings-growth ratio of 0.32 and a beta of 0.53. The firm’s 50-day moving average price is $41.21 and its 200-day moving average price is $38.94. Qifu Technology, Inc. has a 52-week low of $18.13 and a 52-week high of $48.94.

Qifu Technology (NASDAQ:QFIN) last issued its quarterly earnings results on Sunday, March 16th. The company reported $1.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $581.67 million. On average, research analysts anticipate that Qifu Technology, Inc. will post 5.71 EPS for the current fiscal year.

Qifu Technology Increases Dividend

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

Analyst Upgrades and Downgrades

Separately, Bank of America increased their price objective 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 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.