Leading Securities Co Ltd purchased a new stake in FinVolution Group (NYSE:FINV - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,075,330 shares of the company's stock, valued at approximately $14,091,000. FinVolution Group makes up 45.8% of Leading Securities Co Ltd's investment portfolio, making the stock its largest holding. Leading Securities Co Ltd owned approximately 0.78% of FinVolution Group as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of FinVolution Group by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 5,250,278 shares of the company's stock valued at $35,649,000 after buying an additional 41,759 shares during the period. LPL Financial LLC lifted its stake in shares of FinVolution Group by 5.3% in the 4th quarter. LPL Financial LLC now owns 44,870 shares of the company's stock valued at $305,000 after purchasing an additional 2,257 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of FinVolution Group by 6.1% during the 4th quarter. American Century Companies Inc. now owns 880,235 shares of the company's stock worth $5,977,000 after purchasing an additional 50,427 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of FinVolution Group by 496.1% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 418,477 shares of the company's stock worth $2,841,000 after purchasing an additional 348,276 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in FinVolution Group in the 4th quarter valued at about $118,000. Institutional investors and hedge funds own 31.15% of the company's stock.
FinVolution Group Price Performance
NYSE FINV opened at $9.64 on Tuesday. The company has a market cap of $2.56 billion, a P/E ratio of 8.31 and a beta of 0.47. The stock has a 50-day moving average of $8.51 and a two-hundred day moving average of $7.14. FinVolution Group has a 1-year low of $4.63 and a 1-year high of $11.08.
FinVolution Group (NYSE:FINV - Get Free Report) last announced 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 firm had revenue of $473.57 million during the quarter.
FinVolution Group Increases Dividend
The business also recently disclosed an annual dividend, which will be paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 16th will be paid a $0.277 dividend. This is a boost from FinVolution Group's previous annual dividend of $0.24. This represents a dividend yield of 2%. The ex-dividend date is Wednesday, April 16th. FinVolution Group's dividend payout ratio (DPR) is presently 16.80%.
FinVolution Group announced that its Board of Directors has authorized a stock buyback program on Monday, March 17th that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 6.2% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board of directors believes its shares are undervalued.
Wall Street Analysts Forecast Growth
FINV has been the subject of several research analyst reports. Citigroup raised shares of FinVolution Group from a "neutral" rating to a "buy" rating and increased their target price for the stock from $6.00 to $11.00 in a research note on Tuesday, March 18th. UBS Group reiterated a "neutral" rating and issued a $11.80 target price (up previously from $7.80) on shares of FinVolution Group in a report on Thursday, March 20th.
Check Out Our Latest Stock Report on FinVolution Group
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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