FinVolution Group (NYSE:FINV) Position Trimmed by Russell Investments Group Ltd.

Russell Investments Group Ltd. lowered its holdings in FinVolution Group (NYSE:FINV - Free Report) by 14.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 477,572 shares of the company's stock after selling 79,867 shares during the period. Russell Investments Group Ltd. owned about 0.18% of FinVolution Group worth $3,247,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the business. Envestnet Asset Management Inc. purchased a new position in shares of FinVolution Group during the 4th quarter valued at approximately $1,326,000. Prudential PLC acquired a new stake in FinVolution Group in the fourth quarter valued at $3,370,000. Trexquant Investment LP boosted its stake in FinVolution Group by 1,832.0% during the 4th quarter. Trexquant Investment LP now owns 211,303 shares of the company's stock valued at $1,435,000 after acquiring an additional 200,366 shares during the last quarter. Wellington Management Group LLP grew its holdings in FinVolution Group by 18.1% during the 4th quarter. Wellington Management Group LLP now owns 529,118 shares of the company's stock worth $3,593,000 after acquiring an additional 81,187 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC grew its holdings in FinVolution Group by 11.7% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 1,037,878 shares of the company's stock worth $7,047,000 after acquiring an additional 108,495 shares in the last quarter. Institutional investors and hedge funds own 31.15% of the company's stock.

FinVolution Group Trading Up 4.8 %

FinVolution Group stock traded up $0.34 during mid-day trading on Tuesday, reaching $7.37. The company's stock had a trading volume of 958,500 shares, compared to its average volume of 798,414. FinVolution Group has a twelve month low of $4.63 and a twelve month high of $11.08. The business has a 50 day moving average price of $8.63 and a 200-day moving average price of $7.39. The firm has a market cap of $1.95 billion, a price-to-earnings ratio of 6.35 and a beta of 0.32.

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

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

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 $0.277 dividend. This represents a yield of 2%. This is an increase from FinVolution Group's previous annual dividend of $0.24. The ex-dividend date is Wednesday, April 16th. FinVolution Group's dividend payout ratio is 16.80%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Citigroup raised shares of FinVolution Group from a "neutral" rating to a "buy" rating and increased their price target for the stock from $6.00 to $11.00 in a research report on Tuesday, March 18th. UBS Group reaffirmed 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.

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.