Healthcare of Ontario Pension Plan Trust Fund Makes New Investment in 360 DigiTech, Inc. (NASDAQ:QFIN)

Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of 360 DigiTech, Inc. (NASDAQ:QFINGet Rating) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 73,608 shares of the company’s stock, valued at approximately $1,273,000.

Several other hedge funds have also recently made changes to their positions in QFIN. E Fund Management Hong Kong Co. Ltd. raised its position in shares of 360 DigiTech by 135.4% during the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 49,954 shares of the company’s stock valued at $698,000 after buying an additional 28,733 shares in the last quarter. abrdn plc raised its position in shares of 360 DigiTech by 31.2% during the 1st quarter. abrdn plc now owns 15,970 shares of the company’s stock valued at $246,000 after buying an additional 3,799 shares in the last quarter. Shell Asset Management Co. raised its position in shares of 360 DigiTech by 50.0% during the 1st quarter. Shell Asset Management Co. now owns 8,400 shares of the company’s stock valued at $129,000 after buying an additional 2,800 shares in the last quarter. Envestnet Asset Management Inc. raised its position in shares of 360 DigiTech by 55.8% during the 1st quarter. Envestnet Asset Management Inc. now owns 38,978 shares of the company’s stock valued at $600,000 after buying an additional 13,957 shares in the last quarter. Finally, Aspex Management HK Ltd raised its position in shares of 360 DigiTech by 20.6% during the 1st quarter. Aspex Management HK Ltd now owns 10,956,676 shares of the company’s stock valued at $168,623,000 after buying an additional 1,871,646 shares in the last quarter. 58.73% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

360 DigiTech Trading Up 4.1 %

Shares of NASDAQ:QFIN opened at $13.68 on Friday. The company has a market capitalization of $2.08 billion, a price-to-earnings ratio of 3.23 and a beta of 0.30. 360 DigiTech, Inc. has a 12 month low of $9.47 and a 12 month high of $25.50. The firm’s 50-day moving average is $13.12 and its 200 day moving average is $14.32.

360 DigiTech Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 18th. Investors of record on Monday, December 12th will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, December 9th. This represents a $0.64 annualized dividend and a yield of 4.68%. 360 DigiTech’s payout ratio is 16.04%.

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.

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

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