FinVolution Group (NYSE:FINV) Shares Up 5.2% - Still a Buy?

FinVolution Group (NYSE:FINV - Get Free Report)'s stock price traded up 5.2% during trading on Thursday . The company traded as high as $10.29 and last traded at $10.33. 666,107 shares changed hands during mid-day trading, a decline of 8% from the average session volume of 722,862 shares. The stock had previously closed at $9.81.

Analyst Ratings Changes

FINV has been the topic of several research reports. Citigroup upgraded shares of FinVolution Group from a "neutral" rating to a "buy" rating and upped their price objective for the company from $6.00 to $11.00 in a report on Tuesday, March 18th. UBS Group reiterated a "neutral" rating and issued a $11.80 price target (up previously from $7.80) on shares of FinVolution Group in a report on Thursday, March 20th.

FinVolution Group Trading Down 1.3 %

The firm has a market cap of $2.56 billion, a P/E ratio of 8.31 and a beta of 0.47. The company's 50-day moving average is $8.45 and its two-hundred day moving average is $7.10.

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 return on equity of 16.66% and a net margin of 17.36%. The business had revenue of $473.57 million for the quarter.

Remove Ads

FinVolution Group Increases Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Wednesday, April 16th. This represents a dividend yield of 2%. This is a boost from FinVolution Group's previous annual dividend of $0.24. FinVolution Group's dividend payout ratio (DPR) is currently 16.80%.

FinVolution Group declared that its board has initiated a stock repurchase plan on Monday, March 17th that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the company to repurchase up to 6.2% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's leadership believes its stock is undervalued.

Institutional Trading of FinVolution Group

A number of hedge funds have recently bought and sold shares of the business. WealthCollab LLC boosted its stake in FinVolution Group by 8.5% in the fourth quarter. WealthCollab LLC now owns 18,708 shares of the company's stock valued at $127,000 after acquiring an additional 1,459 shares during the last quarter. SYM FINANCIAL Corp raised its stake in shares of 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 buying an additional 1,706 shares during the period. LPL Financial LLC raised its stake in shares of FinVolution Group by 5.3% in the fourth quarter. LPL Financial LLC now owns 44,870 shares of the company's stock valued at $305,000 after buying an additional 2,257 shares during the period. Geode Capital Management LLC grew its stake in shares of 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 acquiring an additional 3,164 shares during the period. Finally, Lester Murray Antman dba SimplyRich increased its holdings in FinVolution Group by 8.0% in the 4th quarter. Lester Murray Antman dba SimplyRich now owns 45,307 shares of the company's stock worth $307,000 after acquiring an additional 3,348 shares during the last quarter. 31.15% of the stock is currently owned by institutional investors.

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.