Alliancebernstein L.P. Cuts Holdings in FinVolution Group (NYSE:FINV)

Alliancebernstein L.P. lessened its stake in shares of FinVolution Group (NYSE:FINV - Free Report) by 24.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 352,850 shares of the company's stock after selling 112,200 shares during the quarter. Alliancebernstein L.P. owned approximately 0.13% of FinVolution Group worth $2,396,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. SYM FINANCIAL Corp boosted its stake in FinVolution Group by 14.4% in the fourth quarter. SYM FINANCIAL Corp now owns 13,543 shares of the company's stock valued at $92,000 after acquiring an additional 1,706 shares in the last quarter. LPL Financial LLC boosted its position in shares of FinVolution Group by 5.3% in the 4th quarter. LPL Financial LLC now owns 44,870 shares of the company's stock worth $305,000 after purchasing an additional 2,257 shares in the last quarter. Geode Capital Management LLC grew its stake in FinVolution Group by 4.4% during the 3rd quarter. Geode Capital Management LLC now owns 74,723 shares of the company's stock worth $462,000 after buying an additional 3,164 shares during the last quarter. Lester Murray Antman dba SimplyRich grew its stake in FinVolution Group by 8.0% during the 4th quarter. Lester Murray Antman dba SimplyRich now owns 45,307 shares of the company's stock worth $307,000 after buying an additional 3,348 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in FinVolution Group during the 4th quarter valued at about $28,000. 31.15% of the stock is currently owned by hedge funds and other institutional investors.

FinVolution Group Trading Up 4.8 %

Shares of FINV stock traded up $0.34 during mid-day trading on Tuesday, reaching $7.37. The stock had a trading volume of 958,500 shares, compared to its average volume of 798,414. FinVolution Group has a 1-year low of $4.63 and a 1-year high of $11.08. The firm has a market cap of $1.95 billion, a price-to-earnings ratio of 6.35 and a beta of 0.32. The business's fifty day moving average is $8.63 and its 200-day moving average is $7.39.

FinVolution Group (NYSE:FINV - Get Free Report) last issued its quarterly earnings results on Monday, March 17th. The company reported $0.38 earnings per share for the quarter. The company had revenue of $473.57 million for the quarter. FinVolution Group had a net margin of 17.36% and a return on equity of 16.66%.

FinVolution Group declared that its Board of Directors has initiated a share buyback plan on Monday, March 17th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the company to purchase up to 6.2% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's management believes its stock is undervalued.

FinVolution Group Increases Dividend

The business also recently declared an annual dividend, which will be paid on Wednesday, May 7th. Shareholders of record on Wednesday, April 16th will be given a dividend of $0.277 per share. This is an increase from FinVolution Group's previous annual dividend of $0.24. This represents a yield of 2%. The ex-dividend date is Wednesday, April 16th. FinVolution Group's dividend payout ratio (DPR) is currently 16.80%.

Analysts Set New Price Targets

FINV has been the topic of a number of research analyst reports. Citigroup upgraded FinVolution Group from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $6.00 to $11.00 in a research note on Tuesday, March 18th. UBS Group reissued a "neutral" rating and set a $11.80 target price (up previously from $7.80) on shares of FinVolution Group in a research report on Thursday, March 20th.

About FinVolution Group

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.