Arrowstreet Capital Limited Partnership Grows Stock Position in FinVolution Group (NYSE:FINV)

Arrowstreet Capital Limited Partnership lifted its stake in FinVolution Group (NYSE:FINV - Free Report) by 20.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,217,497 shares of the company's stock after buying an additional 379,025 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 0.84% of FinVolution Group worth $15,057,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FINV. Norges Bank acquired a new stake in FinVolution Group during the fourth quarter valued at $6,360,000. JPMorgan Chase & Co. acquired a new stake in shares of FinVolution Group during the 4th quarter valued at about $688,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of FinVolution Group by 21.2% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 23,722 shares of the company's stock valued at $164,000 after purchasing an additional 4,146 shares in the last quarter. Leading Securities Co Ltd acquired a new position in FinVolution Group in the 4th quarter worth about $14,091,000. Finally, Vanguard Group Inc. boosted its position in FinVolution Group by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 5,250,278 shares of the company's stock worth $35,649,000 after purchasing an additional 41,759 shares in the last quarter. 31.15% of the stock is owned by institutional investors and hedge funds.

FinVolution Group Price Performance

FINV stock traded down $0.12 during trading on Wednesday, hitting $7.98. The stock had a trading volume of 2,294,285 shares, compared to its average volume of 758,421. FinVolution Group has a twelve month low of $4.63 and a twelve month high of $11.08. The company's 50-day moving average price is $8.72 and its two-hundred day moving average price is $7.32. The stock has a market capitalization of $2.12 billion, a P/E ratio of 6.88 and a beta of 0.32.

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 (EPS) for the quarter. FinVolution Group had a return on equity of 16.66% and a net margin of 17.36%. The firm had revenue of $473.57 million for the quarter.

FinVolution Group Increases Dividend

The firm also recently disclosed an annual dividend, which will be paid on Wednesday, May 7th. Shareholders of record on Wednesday, April 16th will be issued a $0.277 dividend. This is an increase from FinVolution Group's previous annual dividend of $0.24. The ex-dividend date of this dividend is Wednesday, April 16th. This represents a yield of 2%. FinVolution Group's dividend payout ratio is presently 16.80%.

FinVolution Group announced that its board has initiated a share repurchase 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 stock through open market purchases. Stock repurchase plans are typically a sign that the company's board of directors believes its shares are undervalued.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. UBS Group restated a "neutral" rating and issued a $11.80 price objective (up from $7.80) on shares of FinVolution Group in a research report on Thursday, March 20th. Citigroup raised shares of 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 report on Tuesday, March 18th.

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.