Robeco Institutional Asset Management B.V. Sells 42,359 Shares of Qifu Technology, Inc. (NASDAQ:QFIN)

Robeco Institutional Asset Management B.V. trimmed its holdings in shares of Qifu Technology, Inc. (NASDAQ:QFIN) by 15.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 224,177 shares of the company’s stock after selling 42,359 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Qifu Technology were worth $3,546,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Employees Retirement System of Texas acquired a new position in Qifu Technology in the third quarter valued at $51,000. Clear Street Markets LLC bought a new position in shares of Qifu Technology in the 3rd quarter worth about $58,000. Quantbot Technologies LP raised its position in shares of Qifu Technology by 60.0% in 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 in the last quarter. Handelsinvest Investeringsforvaltning acquired a new position in shares of Qifu Technology in the 4th quarter valued at about $150,000. Finally, Fox Run Management L.L.C. bought a new stake in shares of Qifu Technology during the 3rd quarter valued at about $218,000. 74.81% of the stock is currently owned by institutional investors and hedge funds.

Qifu Technology Price Performance

Shares of NASDAQ QFIN opened at $20.51 on Wednesday. The firm has a market cap of $3.31 billion, a PE ratio of 5.31, a P/E/G ratio of 0.12 and a beta of 0.57. The company’s fifty day simple moving average is $19.16 and its 200 day simple moving average is $16.55. Qifu Technology, Inc. has a 12-month low of $13.12 and a 12-month high of $21.57.

Qifu Technology (NASDAQ:QFIN) last released its quarterly earnings data on Tuesday, March 12th. The company reported $0.96 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.96. Qifu Technology had a net margin of 26.80% and a return on equity of 21.15%. The company had revenue of $633.18 million for the quarter, compared to analysts’ expectations of $597.09 million. On average, equities analysts predict that Qifu Technology, Inc. will post 17.19 earnings per share for the current year.

Qifu Technology Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Friday, May 24th. Stockholders of record on Monday, April 15th will be issued a dividend of $0.57 per share. 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 payout ratio is currently 29.53%.

Wall Street Analysts Forecast Growth

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

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.