American Century Companies Inc. grew its stake in FinVolution Group (NYSE:FINV - Free Report) by 6.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 880,235 shares of the company's stock after acquiring an additional 50,427 shares during the quarter. American Century Companies Inc. owned 0.33% of FinVolution Group worth $5,977,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of FinVolution Group in the 4th quarter valued at $28,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of FinVolution Group in the third quarter worth $58,000. Aigen Investment Management LP acquired a new position in shares of FinVolution Group during the 4th quarter worth about $75,000. SYM FINANCIAL Corp increased its position in shares of FinVolution Group by 14.4% during the 4th quarter. SYM FINANCIAL Corp now owns 13,543 shares of the company's stock worth $92,000 after purchasing an additional 1,706 shares during the last quarter. Finally, Quadrature Capital Ltd bought a new stake in FinVolution Group during the third quarter worth $94,000. 31.15% of the stock is currently owned by institutional investors and hedge funds.
FinVolution Group Stock Down 1.5 %
Shares of FINV stock traded down $0.12 during trading hours on Wednesday, reaching $7.98. The company's stock had a trading volume of 2,294,285 shares, compared to its average volume of 757,925. The firm's 50 day simple moving average is $8.72 and its 200-day simple moving average is $7.32. The company has a market capitalization of $2.12 billion, a price-to-earnings ratio of 6.88 and a beta of 0.32. FinVolution Group has a fifty-two week low of $4.63 and a fifty-two week high of $11.08.
FinVolution Group (NYSE:FINV - Get Free Report) last posted its earnings results on Monday, March 17th. The company reported $0.38 earnings per share for the quarter. FinVolution Group had a net margin of 17.36% and a return on equity of 16.66%. The firm had revenue of $473.57 million for the quarter.
FinVolution Group Increases Dividend
The firm 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 $0.277 dividend. This is a boost 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 is 16.80%.
FinVolution Group announced that its Board of Directors has authorized a stock repurchase plan on Monday, March 17th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the company to buy up to 6.2% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's management believes its stock is undervalued.
Wall Street Analyst Weigh In
Several brokerages have recently commented on FINV. UBS Group reiterated a "neutral" rating and set a $11.80 target price (up from $7.80) on shares of FinVolution Group in a research note on Thursday, March 20th. Citigroup raised shares of FinVolution Group from a "neutral" rating to a "buy" rating and raised their target price for the stock from $6.00 to $11.00 in a report on Tuesday, March 18th.
View Our Latest Analysis on FINV
About FinVolution Group
(
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.
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