Acadian Asset Management LLC Sells 172,956 Shares of 360 DigiTech, Inc. (NASDAQ:QFIN)

Acadian Asset Management LLC lessened its position in 360 DigiTech, Inc. (NASDAQ:QFINGet Rating) by 44.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 212,087 shares of the company’s stock after selling 172,956 shares during the quarter. Acadian Asset Management LLC owned 0.14% of 360 DigiTech worth $3,259,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in QFIN. Shell Asset Management Co. increased its stake in 360 DigiTech by 50.0% in the first quarter. Shell Asset Management Co. now owns 8,400 shares of the company’s stock valued at $129,000 after acquiring an additional 2,800 shares during the last quarter. abrdn plc boosted its position in 360 DigiTech by 31.2% during the first quarter. abrdn plc now owns 15,970 shares of the company’s stock valued at $246,000 after buying an additional 3,799 shares during the period. Asset Management One Co. Ltd. boosted its position in 360 DigiTech by 64.6% during the fourth quarter. Asset Management One Co. Ltd. now owns 12,485 shares of the company’s stock valued at $251,000 after buying an additional 4,899 shares during the period. Raymond James & Associates boosted its position in 360 DigiTech by 5.1% during the first quarter. Raymond James & Associates now owns 17,840 shares of the company’s stock valued at $275,000 after buying an additional 865 shares during the period. Finally, GSA Capital Partners LLP purchased a new stake in 360 DigiTech during the fourth quarter valued at about $282,000. Institutional investors own 58.73% of the company’s stock.

360 DigiTech Trading Down 4.7 %

360 DigiTech stock opened at $14.12 on Monday. The firm has a 50-day moving average of $15.23 and a 200-day moving average of $15.55. The firm has a market cap of $2.15 billion, a P/E ratio of 2.88 and a beta of 0.29. 360 DigiTech, Inc. has a 1-year low of $11.15 and a 1-year high of $28.49.

360 DigiTech (NASDAQ:QFINGet Rating) last posted its earnings results on Thursday, August 18th. The company reported $6.42 earnings per share for the quarter, missing analysts’ consensus estimates of $6.63 by ($0.21). 360 DigiTech had a return on equity of 32.37% and a net margin of 28.82%. During the same quarter in the previous year, the business earned $1.48 EPS. Research analysts forecast that 360 DigiTech, Inc. will post 3.9 earnings per share for the current fiscal year.

360 DigiTech Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 28th. Stockholders of record on Friday, September 16th will be issued a dividend of $0.18 per share. The ex-dividend date is Thursday, September 15th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 5.10%. 360 DigiTech’s dividend payout ratio is currently 17.96%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Citigroup cut their price target on shares of 360 DigiTech from $26.78 to $25.39 and set a “buy” rating for the company in a research report on Thursday, May 26th. Daiwa Capital Markets initiated coverage on shares of 360 DigiTech in a research report on Monday, July 11th. They set a “buy” rating for the company.

About 360 DigiTech

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360 DigiTech, Inc, through its subsidiaries, operates financial technology platform under the 360 Jietiao brand in the People's Republic of China. The company provides credit-driven services that matches borrowers with financial institution partners enabling financial institution partners to conduct customer acquisition, initial credit screening, advanced risk assessment, collection, 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.

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Institutional Ownership by Quarter for 360 DigiTech (NASDAQ:QFIN)

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