Walleye Capital LLC boosted its holdings in FinVolution Group (NYSE:FINV - Free Report) by 31.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 627,899 shares of the company's stock after acquiring an additional 151,605 shares during the quarter. Walleye Capital LLC owned about 0.24% of FinVolution Group worth $4,263,000 as of its most recent filing with the SEC.
Other institutional investors also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. purchased a new position in FinVolution Group in the 4th quarter valued at about $28,000. Aigen Investment Management LP acquired a new stake in FinVolution Group during the fourth quarter worth approximately $75,000. SYM FINANCIAL Corp lifted its stake 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 period. SVB Wealth LLC acquired a new stake in shares of FinVolution Group during the fourth quarter worth $96,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of FinVolution Group in the fourth quarter valued at $118,000. 31.15% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several brokerages recently commented on FINV. UBS Group reaffirmed a "neutral" rating and set a $11.80 price target (up previously 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 upped their price target for the stock from $6.00 to $11.00 in a research report on Tuesday, March 18th.
Get Our Latest Research Report on FINV
FinVolution Group Stock Performance
Shares of NYSE FINV traded up $0.24 during midday trading on Tuesday, hitting $7.27. The company's stock had a trading volume of 157,904 shares, compared to its average volume of 794,668. The firm has a market cap of $1.93 billion, a P/E ratio of 6.26 and a beta of 0.32. FinVolution Group has a 1-year low of $4.63 and a 1-year high of $11.08. The firm's fifty day moving average price is $8.65 and its 200-day moving average price is $7.39.
FinVolution Group (NYSE:FINV - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $473.57 million for the quarter.
FinVolution Group declared that its Board of Directors has authorized a stock repurchase program on Monday, March 17th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 6.2% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's board of directors believes its stock is undervalued.
FinVolution Group Increases Dividend
The firm also recently announced an annual dividend, which will be paid on Wednesday, May 7th. Shareholders of record on Wednesday, April 16th will be paid a dividend of $0.277 per share. This represents a yield of 2%. The ex-dividend date is Wednesday, April 16th. This is a boost from FinVolution Group's previous annual dividend of $0.24. FinVolution Group's payout ratio is 16.80%.
FinVolution Group Company 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.
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