Qifu Technology, Inc. (NASDAQ:QFIN) Shares Sold by First Beijing Investment Ltd

First Beijing Investment Ltd reduced its holdings in shares of Qifu Technology, Inc. (NASDAQ:QFIN) by 72.1% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 763,509 shares of the company’s stock after selling 1,972,771 shares during the quarter. Qifu Technology makes up approximately 1.7% of First Beijing Investment Ltd’s holdings, making the stock its 11th largest holding. First Beijing Investment Ltd’s holdings in Qifu Technology were worth $22,760,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in QFIN. AQR Capital Management LLC purchased a new position in shares of Qifu Technology in the 2nd quarter valued at approximately $25,560,000. Acadian Asset Management LLC raised its holdings in shares of Qifu Technology by 1,789.1% in the second quarter. Acadian Asset Management LLC now owns 1,240,489 shares of the company’s stock worth $24,450,000 after buying an additional 1,174,824 shares during the last quarter. Prudential PLC lifted its stake in shares of Qifu Technology by 634.1% during the second quarter. Prudential PLC now owns 956,998 shares of the company’s stock worth $18,882,000 after buying an additional 826,631 shares during the period. Marshall Wace LLP grew its holdings in shares of Qifu Technology by 557.5% during the second quarter. Marshall Wace LLP now owns 776,457 shares of the company’s stock valued at $15,319,000 after buying an additional 658,366 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its position in shares of Qifu Technology by 66.9% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,369,278 shares of the company’s stock valued at $40,818,000 after acquiring an additional 548,678 shares during the period. 74.81% of the stock is currently owned by hedge funds and other institutional investors.

Qifu Technology Price Performance

QFIN traded down $1.58 on Wednesday, reaching $32.06. 304,018 shares of the stock were exchanged, compared to its average volume of 1,293,010. The company’s 50-day moving average price is $29.61 and its 200 day moving average price is $23.61. The firm has a market capitalization of $5.17 billion, a PE ratio of 7.79, a PEG ratio of 0.45 and a beta of 0.61. Qifu Technology, Inc. has a fifty-two week low of $13.71 and a fifty-two week high of $35.23.

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

Qifu Technology Increases Dividend

The firm also recently announced a semi-annual dividend, which was paid on Friday, November 1st. Investors of record on Friday, September 27th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, September 27th. This is an increase from Qifu Technology’s previous semi-annual dividend of $0.57. This represents a yield of 4.7%. Qifu Technology’s payout ratio is currently 28.37%.

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.