E Fund Management Hong Kong Co. Ltd. Sells 11,087 Shares of Qifu Technology, Inc. (NASDAQ:QFIN)

E Fund Management Hong Kong Co. Ltd. lowered its stake in shares of Qifu Technology, Inc. (NASDAQ:QFIN) by 11.4% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 85,949 shares of the company’s stock after selling 11,087 shares during the quarter. Qifu Technology makes up approximately 1.5% of E Fund Management Hong Kong Co. Ltd.’s portfolio, making the stock its 13th largest holding. E Fund Management Hong Kong Co. Ltd. owned about 0.05% of Qifu Technology worth $2,562,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Qifu Technology by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 4,651,879 shares of the company’s stock valued at $85,734,000 after purchasing an additional 30,522 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Qifu Technology by 5.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,193,893 shares of the company’s stock worth $43,262,000 after buying an additional 109,809 shares during the period. AQR Capital Management LLC bought a new stake in shares of Qifu Technology during the second quarter valued at approximately $25,560,000. Acadian Asset Management LLC boosted its stake in Qifu Technology by 1,789.1% during the second quarter. Acadian Asset Management LLC now owns 1,240,489 shares of the company’s stock valued at $24,450,000 after buying an additional 1,174,824 shares during the last quarter. Finally, Millennium Management LLC increased its position in Qifu Technology by 35.5% in the second quarter. Millennium Management LLC now owns 1,198,882 shares of the company’s stock worth $23,654,000 after purchasing an additional 314,323 shares during the last quarter. Institutional investors own 74.81% of the company’s stock.

Qifu Technology Stock Down 1.4 %

QFIN stock opened at $33.64 on Thursday. The firm’s fifty day simple moving average is $29.00 and its two-hundred day simple moving average is $23.15. Qifu Technology, Inc. has a twelve month low of $13.71 and a twelve month high of $35.23. The stock has a market capitalization of $5.43 billion, a price-to-earnings ratio of 8.09, a price-to-earnings-growth ratio of 0.47 and a beta of 0.62.

Qifu Technology (NASDAQ:QFIN) last posted its quarterly earnings results on Tuesday, August 13th. The company reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.23. Qifu Technology had a return on equity of 21.82% and a net margin of 28.06%. The business had revenue of $572.44 million for the quarter, compared to the consensus estimate of $582.69 million. As a group, equities research analysts expect that Qifu Technology, Inc. will post 5.08 EPS for the current year.

Qifu Technology Increases Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, September 27th will be issued a $0.60 dividend. This is an increase from Qifu Technology’s previous semi-annual dividend of $0.57. This represents a dividend yield of 4.7%. The ex-dividend date is Friday, September 27th. Qifu Technology’s dividend payout ratio is 28.37%.

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.