Sumitomo Mitsui Trust Holdings Inc. lifted its stake in  360 DigiTech, Inc. (NASDAQ:QFIN – Get Rating) by 11.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor  owned 220,414 shares of the company's stock after purchasing an additional 21,801 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned about 0.14% of 360 DigiTech worth $2,826,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Legal & General Group Plc boosted its position in shares of  360 DigiTech by 0.6% in the 2nd quarter. Legal & General Group Plc now owns 840,880 shares of the company's stock worth $14,547,000 after purchasing an additional 5,068 shares in the last quarter.  TT International Asset Management LTD lifted its position in  360 DigiTech by 1.0% in the 2nd quarter. TT International Asset Management LTD now owns 9,911,772 shares of the company's stock valued at $171,473,000 after acquiring an additional 101,813 shares in the last quarter.  Point72 Hong Kong Ltd bought a new position in  360 DigiTech in the 2nd quarter valued at approximately $343,000.  Cubist Systematic Strategies LLC bought a new position in  360 DigiTech in the 2nd quarter valued at approximately $84,000.  Finally, Sei Investments Co. lifted its position in  360 DigiTech by 45.5% in the 2nd quarter. Sei Investments Co. now owns 21,193 shares of the company's stock valued at $367,000 after acquiring an additional 6,628 shares in the last quarter. 55.07% of the stock is owned by institutional investors.

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Analyst Upgrades and Downgrades

Separately, China Renaissance  reaffirmed a "buy" rating and issued a $20.80 price objective on shares of 360 DigiTech in a research report on Thursday, September 29th.

360 DigiTech Trading Down 0.2 %

                    Shares of QFIN opened at $23.00 on Friday. The firm has a market cap of $3.57 billion, a PE ratio of 5.42 and a beta of 0.31. The firm has a fifty day simple moving average of $16.42 and a two-hundred day simple moving average of $15.12. 360 DigiTech, Inc. has a 1-year low of $9.47 and a 1-year high of $23.37.  

360 DigiTech (NASDAQ:QFIN – Get Rating) last announced its earnings results on Sunday, November 13th. The company reported $0.86 earnings per share for the quarter, missing analysts' consensus estimates of $0.92 by ($0.06). The company had revenue of $582.57 million for the quarter, compared to analysts' expectations of $643.15 million. 360 DigiTech had a net margin of 26.31% and a return on equity of 27.15%.  As a group, research analysts forecast that  360 DigiTech, Inc. will post 3.73 EPS for the current fiscal year.

360 DigiTech Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 18th. Shareholders of record on Monday, December 12th will be paid a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, December 9th. This represents a $0.64 dividend on an annualized basis and a yield of 2.78%. 360 DigiTech's dividend payout ratio  is presently 14.15%.

360 DigiTech Company Profile

(Get Rating)

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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