FinVolution Group (NYSE:FINV) Stock Position Decreased by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lowered its position in shares of FinVolution Group (NYSE:FINV - Free Report) by 18.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 136,500 shares of the company's stock after selling 31,800 shares during the quarter. Pictet Asset Management Holding SA owned about 0.05% of FinVolution Group worth $927,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of FINV. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in FinVolution Group by 51.9% during the 3rd 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 purchasing an additional 169,344 shares during the period. Quadrature Capital Ltd acquired a new position in shares of FinVolution Group during the third quarter worth about $94,000. State Street Corp lifted its stake in shares of FinVolution Group by 8.3% during the third quarter. State Street Corp now owns 3,496,614 shares of the company's stock worth $21,609,000 after purchasing an additional 268,843 shares in the last quarter. Jane Street Group LLC boosted its position in shares of FinVolution Group by 229.4% in the third quarter. Jane Street Group LLC now owns 185,420 shares of the company's stock worth $1,146,000 after buying an additional 129,138 shares during the period. Finally, XTX Topco Ltd acquired a new stake in shares of FinVolution Group in the third quarter valued at about $346,000. Hedge funds and other institutional investors own 31.15% of the company's stock.

FinVolution Group Trading Down 5.0 %

NYSE:FINV traded down $0.40 on Friday, reaching $7.65. The stock had a trading volume of 2,610,403 shares, compared to its average volume of 771,524. FinVolution Group has a 12-month low of $4.63 and a 12-month high of $11.08. The stock has a market cap of $2.03 billion, a P/E ratio of 6.59 and a beta of 0.32. The company has a 50-day moving average of $8.73 and a 200 day moving average of $7.35.

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

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

FinVolution Group Increases Dividend

The business also recently declared an annual dividend, which will be paid on Wednesday, May 7th. Stockholders 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 an increase from FinVolution Group's previous annual dividend of $0.24. FinVolution Group's dividend payout ratio (DPR) is presently 16.80%.

Analyst Upgrades and Downgrades

Several research firms recently commented on FINV. Citigroup raised FinVolution Group from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $6.00 to $11.00 in a research report on Tuesday, March 18th. UBS Group reissued a "neutral" rating and set a $11.80 target price (up from $7.80) on shares of FinVolution Group in a research report on Thursday, March 20th.

FinVolution Group 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.