Sei Investments Co. Sells 201,121 Shares of FinVolution Group (NYSE:FINV)

Sei Investments Co. lessened its position in FinVolution Group (NYSE:FINV - Free Report) by 22.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 682,789 shares of the company's stock after selling 201,121 shares during the period. Sei Investments Co. owned 0.26% of FinVolution Group worth $4,636,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in FINV. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of FinVolution Group during the fourth quarter valued at approximately $28,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in FinVolution Group during the 3rd quarter valued at $58,000. Aigen Investment Management LP bought a new position in FinVolution Group in the 4th quarter worth $75,000. SYM FINANCIAL Corp lifted its position in shares of FinVolution Group by 14.4% in the 4th quarter. SYM FINANCIAL Corp now owns 13,543 shares of the company's stock worth $92,000 after purchasing an additional 1,706 shares during the period. Finally, Quadrature Capital Ltd bought a new stake in shares of FinVolution Group during the 3rd quarter valued at about $94,000. Institutional investors own 31.15% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Citigroup upgraded shares of FinVolution Group from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $6.00 to $11.00 in a report on Tuesday, March 18th. 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 research note on Thursday, March 20th.

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FinVolution Group Stock Down 5.2 %

Shares of FINV stock traded down $0.46 during mid-day trading on Monday, reaching $8.30. 1,391,750 shares of the company's stock traded hands, compared to its average volume of 750,324. The company's 50-day moving average price is $8.70 and its 200-day moving average price is $7.28. The company has a market cap of $2.20 billion, a P/E ratio of 7.15 and a beta of 0.32. FinVolution Group has a 12 month low of $4.63 and a 12 month high of $11.08.

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

FinVolution Group announced that its board has approved a stock buyback program on Monday, March 17th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 6.2% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's management believes its stock is undervalued.

FinVolution Group Increases Dividend

The business also recently disclosed an annual dividend, which will be paid on Wednesday, May 7th. Investors of record on Wednesday, April 16th will be given a dividend of $0.277 per share. This represents a yield of 2%. The ex-dividend date of this dividend is Wednesday, April 16th. This is a positive change from FinVolution Group's previous annual dividend of $0.24. FinVolution Group's dividend payout ratio (DPR) is 16.80%.

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.