936,652 Shares in FinVolution Group (NYSE:FINV) Bought by Norges Bank

Norges Bank acquired a new stake in FinVolution Group (NYSE:FINV - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 936,652 shares of the company's stock, valued at approximately $6,360,000. Norges Bank owned 0.35% of FinVolution Group at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of FINV. Vanguard Group Inc. raised its stake in 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 acquiring an additional 41,759 shares during the period. State Street Corp boosted its holdings in shares of FinVolution Group by 8.3% during the 3rd quarter. State Street Corp now owns 3,496,614 shares of the company's stock worth $21,609,000 after buying an additional 268,843 shares during the period. Leading Securities Co Ltd acquired a new position in FinVolution Group in the 4th quarter valued at about $14,091,000. American Century Companies Inc. raised its holdings in FinVolution Group by 6.1% in the 4th quarter. American Century Companies Inc. now owns 880,235 shares of the company's stock valued at $5,977,000 after acquiring an additional 50,427 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in FinVolution Group by 51.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 495,788 shares of the company's stock worth $3,064,000 after acquiring an additional 169,344 shares during the last quarter. 31.15% of the stock is currently owned by institutional investors and hedge funds.

FinVolution Group Trading Up 6.7 %

NYSE:FINV traded up $0.52 on Monday, hitting $8.19. The company had a trading volume of 68,344 shares, compared to its average volume of 769,791. FinVolution Group has a 52 week low of $4.63 and a 52 week high of $11.08. The stock has a market capitalization of $2.17 billion, a price-to-earnings ratio of 7.08 and a beta of 0.32. The firm has a 50 day moving average of $8.73 and a two-hundred day moving average of $7.36.

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

FinVolution Group announced that its Board of Directors has authorized a share buyback program 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 stock through open market purchases. Stock repurchase programs are usually an indication that the company's board believes its stock is undervalued.

FinVolution Group Increases Dividend

The company 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 positive change 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 is currently 16.80%.

Wall Street Analyst Weigh In

FINV has been the subject of a number of research reports. UBS Group reissued a "neutral" rating and set a $11.80 target price (up previously from $7.80) on shares of FinVolution Group in a report on Thursday, March 20th. Citigroup upgraded FinVolution Group from a "neutral" rating to a "buy" rating and raised their price target for the stock from $6.00 to $11.00 in a research report on Tuesday, March 18th.

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.