Jump Financial LLC Takes $755,000 Position in FinVolution Group (NYSE:FINV)

Jump Financial LLC purchased a new stake in shares of FinVolution Group (NYSE:FINV - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 111,200 shares of the company's stock, valued at approximately $755,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of FinVolution Group during the fourth quarter valued at $28,000. Aigen Investment Management LP bought a new stake in FinVolution Group in the 4th quarter worth about $75,000. SYM FINANCIAL Corp increased its holdings in 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 buying an additional 1,706 shares in the last quarter. SVB Wealth LLC bought a new stake in FinVolution Group in the 4th quarter worth about $96,000. Finally, Raymond James Financial Inc. bought a new stake in FinVolution Group in the 4th quarter worth about $118,000. 31.15% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. UBS Group reiterated a "neutral" rating and issued a $11.80 price objective (up from $7.80) on shares of FinVolution Group in a report on Thursday, March 20th. Citigroup upgraded FinVolution Group from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $6.00 to $11.00 in a report on Tuesday, March 18th.

FinVolution Group Stock Up 1.7 %

NYSE:FINV traded up $0.13 on Monday, hitting $7.82. The stock had a trading volume of 512,407 shares, compared to its average volume of 805,152. The stock has a market cap of $2.07 billion, a price-to-earnings ratio of 6.74 and a beta of 0.32. The business's 50-day simple moving average is $8.57 and its two-hundred day simple moving average is $7.44. FinVolution Group has a 52-week low of $4.63 and a 52-week 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 earnings per share (EPS) for the quarter. The business had revenue of $473.57 million for the quarter. FinVolution Group had a return on equity of 16.66% and a net margin of 17.36%.

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 a boost from FinVolution Group's previous annual dividend of $0.24. The ex-dividend date is Wednesday, April 16th. FinVolution Group's dividend payout ratio (DPR) is presently 16.80%.

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

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.