Connor Clark & Lunn Investment Management Ltd. Acquires 348,276 Shares of FinVolution Group (NYSE:FINV)

Connor Clark & Lunn Investment Management Ltd. lifted its stake in FinVolution Group (NYSE:FINV - Free Report) by 496.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 418,477 shares of the company's stock after buying an additional 348,276 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.16% of FinVolution Group worth $2,841,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. GSA Capital Partners LLP bought a new stake in FinVolution Group during the 3rd quarter valued at approximately $261,000. Caprock Group LLC raised its stake in FinVolution Group by 27.1% during the 3rd quarter. Caprock Group LLC now owns 127,590 shares of the company's stock valued at $789,000 after purchasing an additional 27,183 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in FinVolution Group by 51.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 495,788 shares of the company's stock valued at $3,064,000 after purchasing an additional 169,344 shares during the period. Walleye Capital LLC grew its holdings in FinVolution Group by 134.4% during the 3rd quarter. Walleye Capital LLC now owns 476,294 shares of the company's stock valued at $2,943,000 after buying an additional 273,055 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in FinVolution Group during the 3rd quarter valued at approximately $58,000. Institutional investors own 31.15% of the company's stock.

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Analyst Upgrades and Downgrades

Several equities analysts have weighed in on FINV shares. Citigroup upgraded FinVolution Group from a "neutral" rating to a "buy" rating and raised their price target for the company from $6.00 to $11.00 in a report on Tuesday. UBS Group restated a "neutral" rating and set a $11.80 price target (up previously from $7.80) on shares of FinVolution Group in a report on Thursday.

FinVolution Group Stock Up 0.4 %

NYSE FINV traded up $0.04 during trading on Friday, hitting $10.03. 1,593,306 shares of the stock traded hands, compared to its average volume of 719,930. The company has a market capitalization of $2.66 billion, a P/E ratio of 8.64 and a beta of 0.47. The firm has a 50-day simple moving average of $8.09 and a 200-day simple moving average of $6.88. FinVolution Group has a 12-month low of $4.63 and a 12-month high of $11.08.

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

FinVolution Group Increases Dividend

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

FinVolution Group declared that its Board of Directors has approved a share buyback program on Monday, March 17th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 6.2% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's board believes its shares are undervalued.

FinVolution Group Company Profile

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.