Tower Research Capital LLC TRC Sells 5,952 Shares of Qifu Technology, Inc. (NASDAQ:QFIN)

Tower Research Capital LLC TRC lessened its position in Qifu Technology, Inc. (NASDAQ:QFIN) by 70.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,443 shares of the company’s stock after selling 5,952 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Qifu Technology were worth $39,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in Qifu Technology in the 4th quarter worth $37,128,000. Dimensional Fund Advisors LP grew its position in Qifu Technology by 20.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,901,674 shares of the company’s stock worth $30,082,000 after purchasing an additional 324,618 shares during the last quarter. E Fund Management Co. Ltd. grew its position in Qifu Technology by 1.7% in the 4th quarter. E Fund Management Co. Ltd. now owns 920,787 shares of the company’s stock worth $14,567,000 after purchasing an additional 15,427 shares during the last quarter. Canada Pension Plan Investment Board grew its position in Qifu Technology by 138.5% in the 3rd quarter. Canada Pension Plan Investment Board now owns 470,910 shares of the company’s stock worth $7,233,000 after purchasing an additional 273,500 shares during the last quarter. Finally, American Century Companies Inc. grew its position in Qifu Technology by 17.2% in the 3rd quarter. American Century Companies Inc. now owns 379,186 shares of the company’s stock worth $5,824,000 after purchasing an additional 55,766 shares during the last quarter. Institutional investors own 74.81% of the company’s stock.

Wall Street Analyst Weigh In

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

Qifu Technology Price Performance

Shares of Qifu Technology stock traded up $1.31 during trading on Thursday, hitting $19.88. 1,272,219 shares of the company’s stock traded hands, compared to its average volume of 1,098,923. The firm’s fifty day moving average price is $17.86 and its 200 day moving average price is $16.03. Qifu Technology, Inc. has a twelve month low of $13.12 and a twelve month high of $20.61. The company has a market cap of $3.21 billion, a PE ratio of 5.38, a PEG ratio of 0.42 and a beta of 0.57.

Qifu Technology (NASDAQ:QFIN) last issued its earnings results on Tuesday, March 12th. The company reported $0.96 earnings per share for the quarter, meeting the consensus estimate of $0.96. Qifu Technology had a net margin of 26.29% and a return on equity of 20.44%. The business had revenue of $633.18 million for the quarter, compared to analyst estimates of $597.09 million. As a group, equities research analysts anticipate that Qifu Technology, Inc. will post 4.31 earnings per share for the current 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 given a $0.57 dividend. The ex-dividend date of this dividend is Friday, April 12th. This is a positive change from Qifu Technology’s previous semi-annual dividend of $0.50. This represents a yield of 5.7%. Qifu Technology’s payout ratio is 31.15%.

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.