Jump Financial LLC acquired a new stake in shares of FinVolution Group (NYSE:FINV - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 111,200 shares of the company's stock, valued at approximately $755,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. purchased a new position in FinVolution Group during the 4th quarter valued at $28,000. Aigen Investment Management LP bought a new stake in shares of FinVolution Group during the fourth quarter worth $75,000. SYM FINANCIAL Corp boosted its stake in shares of FinVolution Group by 14.4% during the fourth quarter. SYM FINANCIAL Corp now owns 13,543 shares of the company's stock valued at $92,000 after purchasing an additional 1,706 shares during the period. SVB Wealth LLC bought a new position in shares of FinVolution Group in the fourth quarter worth about $96,000. Finally, Raymond James Financial Inc. purchased a new position in FinVolution Group in the 4th quarter worth about $118,000. Hedge funds and other institutional investors own 31.15% of the company's stock.
Analysts Set New Price Targets
FINV has been the subject of several research reports. Citigroup raised shares of FinVolution Group from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $6.00 to $11.00 in a research report on Tuesday, March 18th. UBS Group reiterated a "neutral" rating and issued a $11.80 price target (up previously from $7.80) on shares of FinVolution Group in a report on Thursday, March 20th.
Get Our Latest Stock Report on FinVolution Group
FinVolution Group Stock Performance
NYSE FINV opened at $7.37 on Wednesday. The company's 50-day simple moving average is $8.63 and its two-hundred day simple moving average is $7.39. FinVolution Group has a one year low of $4.63 and a one year high of $11.08. The company has a market capitalization of $1.95 billion, a price-to-earnings ratio of 6.35 and a beta of 0.32.
FinVolution Group (NYSE:FINV - Get Free Report) last issued its quarterly earnings data on Monday, March 17th. The company reported $0.38 EPS for the quarter. The company had revenue of $473.57 million during the quarter. FinVolution Group had a net margin of 17.36% and a return on equity of 16.66%.
FinVolution Group announced that its board has approved a stock buyback plan on Monday, March 17th that permits the company to buyback $150.00 million in shares. This buyback authorization permits the company to purchase up to 6.2% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's board believes its stock is undervalued.
FinVolution Group Increases Dividend
The business also recently disclosed an annual dividend, which will be paid on Wednesday, May 7th. Investors of record on Wednesday, April 16th will be given a dividend of $0.277 per share. The ex-dividend date of this dividend is Wednesday, April 16th. This represents a yield of 2%. This is an increase from FinVolution Group's previous annual dividend of $0.24. FinVolution Group's dividend payout ratio (DPR) is presently 16.80%.
FinVolution Group Profile
(
Free Report)
FinVolution Group operates in the online consumer finance industry. The company operates a fintech platform that is empowered by borrowers with financial institutions. It operates in China and internationally. The company was formerly known as PPDAI Group Inc and changed its name to FinVolution Group in November 2019.
Further Reading
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