E Fund Management Co. Ltd. Lowers Holdings in Qifu Technology, Inc. (NASDAQ:QFIN)

E Fund Management Co. Ltd. decreased its stake in Qifu Technology, Inc. (NASDAQ:QFIN) by 4.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 882,112 shares of the company’s stock after selling 42,416 shares during the quarter. Qifu Technology makes up 1.0% of E Fund Management Co. Ltd.’s holdings, making the stock its 19th largest position. E Fund Management Co. Ltd. owned about 0.55% of Qifu Technology worth $17,404,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of QFIN. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Qifu Technology in the second quarter worth about $31,000. Blue Trust Inc. boosted its stake in shares of Qifu Technology by 598.4% in the second quarter. Blue Trust Inc. now owns 1,732 shares of the company’s stock worth $32,000 after buying an additional 1,484 shares during the last quarter. Parallel Advisors LLC boosted its stake in shares of Qifu Technology by 83.9% in the fourth quarter. Parallel Advisors LLC now owns 2,426 shares of the company’s stock worth $38,000 after buying an additional 1,107 shares during the last quarter. Janiczek Wealth Management LLC boosted its stake in shares of Qifu Technology by 131.4% in the first quarter. Janiczek Wealth Management LLC now owns 2,386 shares of the company’s stock worth $44,000 after buying an additional 1,355 shares during the last quarter. Finally, BOCHK Asset Management Ltd purchased a new stake in shares of Qifu Technology in the fourth quarter worth about $95,000. Hedge funds and other institutional investors own 74.81% of the company’s stock.

Qifu Technology Trading Up 0.9 %

Shares of QFIN stock opened at $25.15 on Wednesday. The company has a market capitalization of $4.06 billion, a P/E ratio of 6.52, a P/E/G ratio of 0.43 and a beta of 0.61. The business’s 50 day moving average is $22.41 and its two-hundred day moving average is $20.32. Qifu Technology, Inc. has a 12-month low of $13.68 and a 12-month high of $26.50.

Qifu Technology (NASDAQ:QFIN) last issued 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. The company had revenue of $572.44 million for the quarter, compared to the consensus estimate of $582.69 million. Qifu Technology had a return on equity of 21.82% and a net margin of 28.06%. On average, research analysts predict that Qifu Technology, Inc. will post 4.94 earnings per share for the current fiscal year.

Qifu Technology Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, September 27th will be given a dividend of $0.60 per share. The ex-dividend date is Friday, September 27th. This represents a yield of 4.7%. This is an increase from Qifu Technology’s previous semi-annual dividend of $0.57. Qifu Technology’s dividend payout ratio is currently 29.53%.

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.