Wellington Management Group LLP Acquires 81,187 Shares of FinVolution Group (NYSE:FINV)

Wellington Management Group LLP boosted its holdings in FinVolution Group (NYSE:FINV - Free Report) by 18.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 529,118 shares of the company's stock after buying an additional 81,187 shares during the quarter. Wellington Management Group LLP owned 0.20% of FinVolution Group worth $3,593,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Leading Securities Co Ltd acquired a new position in shares of FinVolution Group in the 4th quarter worth $14,091,000. Norges Bank purchased a new position in FinVolution Group in the 4th quarter worth about $6,360,000. Arrowstreet Capital Limited Partnership raised its holdings in FinVolution Group by 20.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,217,497 shares of the company's stock worth $15,057,000 after buying an additional 379,025 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its stake in FinVolution Group by 496.1% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 418,477 shares of the company's stock valued at $2,841,000 after buying an additional 348,276 shares in the last quarter. Finally, State Street Corp boosted its holdings in shares of FinVolution Group by 8.3% in the third quarter. State Street Corp now owns 3,496,614 shares of the company's stock worth $21,609,000 after buying an additional 268,843 shares during the period. Institutional investors own 31.15% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on FINV. Citigroup upgraded shares of FinVolution Group from a "neutral" rating to a "buy" rating and boosted their price target for the company from $6.00 to $11.00 in a report on Tuesday, March 18th. UBS Group reissued a "neutral" rating and set a $11.80 target price (up from $7.80) on shares of FinVolution Group in a research note on Thursday, March 20th.

FinVolution Group Stock Up 0.3 %

Shares of FINV traded up $0.02 during trading hours on Thursday, reaching $7.23. The company's stock had a trading volume of 156,365 shares, compared to its average volume of 789,544. The company has a 50 day moving average of $8.70 and a two-hundred day moving average of $7.38. The firm has a market cap of $1.92 billion, a price-to-earnings ratio of 6.23 and a beta of 0.32. 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 released its quarterly earnings data on Monday, March 17th. The company reported $0.38 earnings per share for the quarter. FinVolution Group had a net margin of 17.36% and a return on equity of 16.66%. The firm had revenue of $473.57 million for the quarter.

FinVolution Group announced that its Board of Directors has approved a stock buyback plan on Monday, March 17th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the company to buy up to 6.2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board believes its stock is 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 is a positive change from FinVolution Group's previous annual dividend of $0.24. This represents a yield of 2%. The ex-dividend date is Wednesday, April 16th. FinVolution Group's dividend payout ratio is presently 16.80%.

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.