FinVolution Group's (FINV) Neutral Rating Reaffirmed at UBS Group

UBS Group reaffirmed their neutral rating on shares of FinVolution Group (NYSE:FINV - Free Report) in a research report sent to investors on Thursday, MarketBeat reports. They currently have a $11.80 price target on the stock, up from their prior price target of $7.80.

Separately, Citigroup raised shares of FinVolution Group from a "neutral" rating to a "buy" rating and boosted their target price for the company from $6.00 to $11.00 in a research note on Tuesday, March 18th.

FinVolution Group Stock Performance

Shares of NYSE:FINV traded down $0.19 during midday trading on Thursday, reaching $9.86. The company had a trading volume of 906,090 shares, compared to its average volume of 721,671. The company has a fifty day simple moving average of $8.22 and a two-hundred day simple moving average of $6.97. The firm has a market cap of $2.61 billion, a price-to-earnings ratio of 8.50 and a beta of 0.47. FinVolution Group has a 1-year low of $4.63 and a 1-year high of $11.08.

FinVolution Group (NYSE:FINV - Get Free Report) last announced its earnings results 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 company had revenue of $473.57 million during the quarter.

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FinVolution Group Increases Dividend

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

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

Institutional Trading of FinVolution Group

Several institutional investors have recently made changes to their positions in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in FinVolution Group by 51.9% in 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 buying an additional 169,344 shares in the last quarter. Jane Street Group LLC increased its stake 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 acquiring an additional 129,138 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of FinVolution Group by 4.4% during the third quarter. Geode Capital Management LLC now owns 74,723 shares of the company's stock worth $462,000 after acquiring an additional 3,164 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in FinVolution Group during the fourth quarter valued at $28,000. Finally, Public Employees Retirement System of Ohio purchased a new position in FinVolution Group in the third quarter valued at about $1,224,000. 31.15% of the stock is currently owned by institutional investors and hedge funds.

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.