abrdn plc Acquires 2,221 Shares of 360 DigiTech, Inc. (NASDAQ:QFIN)

abrdn plc lifted its holdings in shares of 360 DigiTech, Inc. (NASDAQ:QFINGet Rating) by 13.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 18,191 shares of the company’s stock after purchasing an additional 2,221 shares during the period. abrdn plc’s holdings in 360 DigiTech were worth $315,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Shell Asset Management Co. boosted its holdings 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. Altfest L J & Co. Inc. bought a new position in 360 DigiTech in the second quarter valued at about $176,000. Employees Retirement System of Texas boosted its holdings in 360 DigiTech by 1,096.1% in the first quarter. Employees Retirement System of Texas now owns 13,121 shares of the company’s stock valued at $202,000 after acquiring an additional 12,024 shares during the last quarter. Sei Investments Co. bought a new position in 360 DigiTech in the first quarter valued at about $224,000. Finally, Caisse DE Depot ET Placement DU Quebec boosted its holdings in 360 DigiTech by 6.5% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 15,870 shares of the company’s stock valued at $244,000 after acquiring an additional 970 shares during the last quarter. Institutional investors own 58.73% of the company’s stock.

360 DigiTech Trading Up 9.9 %

NASDAQ:QFIN opened at $13.60 on Friday. 360 DigiTech, Inc. has a 1-year low of $9.47 and a 1-year high of $28.49. The business’s 50-day moving average price is $13.08 and its two-hundred day moving average price is $14.30. The firm has a market capitalization of $2.07 billion, a price-to-earnings ratio of 2.78 and a beta of 0.30.

360 DigiTech (NASDAQ:QFINGet Rating) last released its earnings results on Thursday, August 18th. The company reported $0.92 earnings per share for the quarter, missing the consensus estimate of $0.99 by ($0.07). 360 DigiTech had a net margin of 28.82% and a return on equity of 32.37%. The company had revenue of $624.54 million during the quarter, compared to analyst estimates of $659.49 million. During the same period in the previous year, the company posted $1.48 EPS. Sell-side analysts predict that 360 DigiTech, Inc. will post 3.9 earnings per share for the current year.

360 DigiTech Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 28th. Shareholders of record on Friday, September 16th were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 5.29%. The ex-dividend date of this dividend was Thursday, September 15th. 360 DigiTech’s payout ratio is 13.88%.

Analyst Upgrades and Downgrades

Separately, China Renaissance reiterated a “buy” rating and issued a $20.80 price target on shares of 360 DigiTech in a report on Thursday, September 29th.

360 DigiTech Profile

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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.

See Also

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

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