The Manufacturers Life Insurance Company Sells 405,745 Shares of Qifu Technology, Inc. (NASDAQ:QFIN)

The Manufacturers Life Insurance Company reduced its stake in Qifu Technology, Inc. (NASDAQ:QFIN) by 96.2% during the 3rd quarter, Holdings Channel reports. The firm owned 15,833 shares of the company’s stock after selling 405,745 shares during the period. The Manufacturers Life Insurance Company’s holdings in Qifu Technology were worth $472,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in QFIN. SG Americas Securities LLC boosted its position in shares of Qifu Technology by 3.1% in the 2nd quarter. SG Americas Securities LLC now owns 62,547 shares of the company’s stock worth $1,234,000 after purchasing an additional 1,864 shares during the last quarter. Blue Trust Inc. boosted its position in shares of Qifu Technology by 598.4% in the 2nd quarter. Blue Trust Inc. now owns 1,732 shares of the company’s stock worth $32,000 after purchasing an additional 1,484 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Qifu Technology by 29.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 124,713 shares of the company’s stock worth $2,461,000 after purchasing an additional 28,675 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Qifu Technology by 23.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 58,690 shares of the company’s stock worth $1,158,000 after purchasing an additional 11,092 shares during the last quarter. Finally, Panagora Asset Management Inc. bought a new position in shares of Qifu Technology in the 2nd quarter worth $8,639,000. 74.81% of the stock is currently owned by institutional investors.

Qifu Technology Price Performance

QFIN opened at $38.85 on Friday. The business’s 50-day moving average price is $34.08 and its two-hundred day moving average price is $26.52. Qifu Technology, Inc. has a 1 year low of $13.71 and a 1 year high of $40.31. The company has a market capitalization of $6.27 billion, a price-to-earnings ratio of 7.86, a P/E/G ratio of 0.32 and a beta of 0.64.

Analysts Set New Price Targets

Separately, Citigroup raised their price objective on Qifu Technology from $31.44 to $37.50 and gave the stock a “buy” rating in a research note 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.