abrdn plc Has $1.30 Million Stock Holdings in Qifu Technology, Inc. (NASDAQ:QFIN)

abrdn plc lowered its stake in Qifu Technology, Inc. (NASDAQ:QFIN) by 5.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 82,083 shares of the company’s stock after selling 4,767 shares during the quarter. abrdn plc owned about 0.05% of Qifu Technology worth $1,299,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in QFIN. Employees Retirement System of Texas acquired a new position in Qifu Technology in the third quarter valued at about $51,000. Clear Street Markets LLC acquired a new stake in shares of Qifu Technology in the 3rd quarter valued at approximately $58,000. Quantbot Technologies LP boosted its stake in Qifu Technology by 60.0% during the 3rd quarter. Quantbot Technologies LP now owns 7,437 shares of the company’s stock worth $114,000 after acquiring an additional 2,789 shares during the last quarter. Handelsinvest Investeringsforvaltning acquired a new position in Qifu Technology during the fourth quarter valued at approximately $150,000. Finally, Fox Run Management L.L.C. bought a new stake in Qifu Technology in the third quarter valued at approximately $218,000. 74.81% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Citigroup boosted their price target on shares of Qifu Technology from $23.54 to $23.80 and gave the company a “buy” rating in a report on Thursday, March 14th.

Qifu Technology Stock Performance

Shares of QFIN opened at $18.56 on Tuesday. The firm has a market capitalization of $3.00 billion, a PE ratio of 5.07, a P/E/G ratio of 0.43 and a beta of 0.62. The stock has a 50 day simple moving average of $17.73 and a 200 day simple moving average of $16.00. Qifu Technology, Inc. has a 52-week low of $13.12 and a 52-week high of $20.61.

Qifu Technology (NASDAQ:QFIN) last issued its quarterly earnings data on Tuesday, March 12th. The company reported $0.96 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.96. The company had revenue of $633.18 million during the quarter, compared to the consensus estimate of $597.09 million. Qifu Technology had a net margin of 26.29% and a return on equity of 20.44%. Equities research analysts predict that Qifu Technology, Inc. will post 4.31 EPS for the current fiscal year.

Qifu Technology Increases Dividend

The company also recently declared a semi-annual dividend, which will be paid on Friday, May 24th. Shareholders of record on Monday, April 15th will be paid a $0.57 dividend. This is an increase from Qifu Technology’s previous semi-annual dividend of $0.50. The ex-dividend date of this dividend is Friday, April 12th. This represents a dividend yield of 5.7%. Qifu Technology’s dividend payout ratio (DPR) is currently 31.15%.

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.