Principal Financial Group Inc. Lowers Position in Qifu Technology, Inc. (NASDAQ:QFIN)

Principal Financial Group Inc. decreased its holdings in shares of Qifu Technology, Inc. (NASDAQ:QFIN) by 96.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,900 shares of the company’s stock after selling 1,061,706 shares during the quarter. Principal Financial Group Inc.’s holdings in Qifu Technology were worth $1,309,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of QFIN. State Street Corp grew its stake in Qifu Technology by 5.8% in the 3rd quarter. State Street Corp now owns 2,324,831 shares of the company’s stock worth $70,637,000 after buying an additional 128,381 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Qifu Technology by 5.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,193,893 shares of the company’s stock worth $43,262,000 after acquiring an additional 109,809 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings 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 worth $40,818,000 after purchasing an additional 548,678 shares in the last quarter. AQR Capital Management LLC purchased a new stake in Qifu Technology in the second quarter worth approximately $25,560,000. Finally, Geode Capital Management LLC boosted its stake in shares of Qifu Technology by 3.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,309,635 shares of the company’s stock valued at $38,866,000 after purchasing an additional 41,139 shares in the last quarter. Hedge funds and other institutional investors own 74.81% of the company’s stock.

Qifu Technology Trading Down 0.1 %

QFIN opened at $38.67 on Friday. The stock has a fifty day simple moving average of $35.71 and a two-hundred day simple moving average of $28.40. The company has a market cap of $6.24 billion, a price-to-earnings ratio of 7.83, a price-to-earnings-growth ratio of 0.33 and a beta of 0.64. Qifu Technology, Inc. has a 12-month low of $13.71 and a 12-month high of $40.31.

Analyst Ratings Changes

Separately, Citigroup raised their target price on shares of Qifu Technology from $31.44 to $37.50 and gave the stock a “buy” rating in a report on Thursday, November 21st.

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.