Van ECK Associates Corp trimmed its holdings in shares of 360 DigiTech, Inc. (NASDAQ:QFIN – Get Rating) by 52.0% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,503 shares of the company’s stock after selling 3,799 shares during the quarter. Van ECK Associates Corp’s holdings in 360 DigiTech were worth $45,000 as of its most recent filing with the SEC.
Other large investors have also bought and sold shares of the company. Ronald Blue Trust Inc. increased its stake in 360 DigiTech by 147.9% during the 3rd quarter. Ronald Blue Trust Inc. now owns 1,512 shares of the company’s stock worth $26,000 after purchasing an additional 902 shares in the last quarter. Cubist Systematic Strategies LLC bought a new stake in 360 DigiTech during the 2nd quarter worth approximately $84,000. Altfest L J & Co. Inc. bought a new stake in 360 DigiTech during the 2nd quarter worth approximately $176,000. Employees Retirement System of Texas increased its stake in 360 DigiTech by 1,096.1% during the 1st quarter. Employees Retirement System of Texas now owns 13,121 shares of the company’s stock worth $202,000 after purchasing an additional 12,024 shares in the last quarter. Finally, Sei Investments Co. bought a new stake in 360 DigiTech during the 1st quarter worth approximately $224,000. 55.07% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Separately, China Renaissance reissued a “buy” rating and set a $20.80 target price on shares of 360 DigiTech in a research note on Thursday, September 29th.
360 DigiTech Stock Up 4.1 %
360 DigiTech (NASDAQ:QFIN – Get Rating) last issued its quarterly earnings results on Sunday, November 13th. The company reported $0.86 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.06). The business had revenue of $582.57 million for the quarter, compared to the consensus estimate of $643.15 million. 360 DigiTech had a return on equity of 27.15% and a net margin of 26.31%. On average, sell-side analysts anticipate that 360 DigiTech, Inc. will post 3.73 earnings per share for the current fiscal year.
360 DigiTech Cuts Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 18th. Stockholders of record on Monday, December 12th were paid a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, December 9th. This represents a $0.64 annualized dividend and a dividend yield of 2.85%. 360 DigiTech’s dividend payout ratio is currently 14.15%.
About 360 DigiTech
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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