Renaissance Group LLC Invests $2.73 Million in FinVolution Group (NYSE:FINV)

Renaissance Group LLC acquired a new stake in shares of FinVolution Group (NYSE:FINV - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 402,401 shares of the company's stock, valued at approximately $2,732,000. Renaissance Group LLC owned about 0.15% of FinVolution Group at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of FINV. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of FinVolution Group during the 4th quarter worth approximately $28,000. Aigen Investment Management LP purchased a new position in shares of FinVolution Group in the 4th quarter worth about $75,000. SYM FINANCIAL Corp lifted 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 worth $92,000 after buying an additional 1,706 shares in the last quarter. SVB Wealth LLC bought a new position in FinVolution Group in the 4th quarter valued at approximately $96,000. Finally, Quadrature Capital Ltd purchased a new stake in shares of FinVolution Group during the third quarter valued at $94,000. 31.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. UBS Group restated 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. 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 note on Tuesday, March 18th.

FinVolution Group Stock Up 4.0 %

FINV traded up $0.31 during trading on Monday, hitting $7.98. The company's stock had a trading volume of 252,038 shares, compared to its average volume of 1,051,621. The firm has a market cap of $2.12 billion, a PE ratio of 6.88 and a beta of 0.32. FinVolution Group has a one year low of $4.63 and a one year high of $11.08. The business's 50 day simple moving average is $8.73 and its 200-day simple moving average is $7.36.

FinVolution Group (NYSE:FINV - Get Free Report) last released its quarterly earnings results on Monday, March 17th. The company reported $0.38 earnings per share (EPS) 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 during the quarter.

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 paid a dividend of $0.277 per share. This is a boost from FinVolution Group's previous annual dividend of $0.24. The ex-dividend date is Wednesday, April 16th. This represents a yield of 2%. FinVolution Group's dividend payout ratio (DPR) is presently 16.80%.

FinVolution Group declared that its board has authorized a share repurchase plan on Monday, March 17th that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the company to buy up to 6.2% of its stock through open market purchases. Stock buyback plans are often an indication that the company's board believes its shares are undervalued.

About FinVolution Group

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.