Vanguard Group Inc. Purchases 41,759 Shares of FinVolution Group (NYSE:FINV)

Vanguard Group Inc. boosted its position in shares of FinVolution Group (NYSE:FINV - Free Report) by 0.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,250,278 shares of the company's stock after purchasing an additional 41,759 shares during the period. Vanguard Group Inc. owned 1.98% of FinVolution Group worth $35,649,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in FINV. State Street Corp grew its holdings in shares of FinVolution Group by 8.3% during the 3rd quarter. State Street Corp now owns 3,496,614 shares of the company's stock valued at $21,609,000 after acquiring an additional 268,843 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of FinVolution Group by 6.1% during the 4th quarter. American Century Companies Inc. now owns 880,235 shares of the company's stock valued at $5,977,000 after buying an additional 50,427 shares during the last quarter. DGS Capital Management LLC grew its stake in shares of FinVolution Group by 23.3% in the 3rd quarter. DGS Capital Management LLC now owns 444,853 shares of the company's stock valued at $2,749,000 after buying an additional 84,077 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in FinVolution Group by 496.1% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 418,477 shares of the company's stock worth $2,841,000 after buying an additional 348,276 shares during the last quarter. Finally, Public Employees Retirement System of Ohio bought a new position in shares of FinVolution Group during the 3rd quarter valued at $1,224,000. 31.15% of the stock is owned by institutional investors and hedge funds.

FinVolution Group Trading Down 1.0 %

NYSE:FINV traded down $0.07 during mid-day trading on Friday, hitting $7.14. 1,434,357 shares of the company's stock traded hands, compared to its average volume of 795,355. The firm has a market capitalization of $1.89 billion, a price-to-earnings ratio of 6.16 and a beta of 0.32. The firm has a 50 day moving average of $8.67 and a two-hundred day moving average of $7.39. 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 announced 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 for the quarter. FinVolution Group had a net margin of 17.36% and a return on equity of 16.66%.

FinVolution Group Increases Dividend

The business also recently disclosed 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 a positive change from FinVolution Group's previous annual dividend of $0.24. FinVolution Group's dividend payout ratio is currently 16.80%.

FinVolution Group declared that its Board of Directors has initiated a stock 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 repurchase up to 6.2% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's leadership believes its stock is undervalued.

Analysts Set New Price Targets

Several research firms have recently issued reports on FINV. Citigroup upgraded FinVolution Group from a "neutral" rating to a "buy" rating and upped their price target for the stock from $6.00 to $11.00 in a research note on Tuesday, March 18th. UBS Group restated a "neutral" rating and issued a $11.80 price objective (up from $7.80) on shares of FinVolution Group in a research note 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.