Cubist Systematic Strategies LLC Increases Stock Holdings in FinVolution Group (NYSE:FINV)

Cubist Systematic Strategies LLC boosted its position in FinVolution Group (NYSE:FINV - Free Report) by 162.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 186,787 shares of the company's stock after purchasing an additional 115,536 shares during the quarter. Cubist Systematic Strategies LLC owned approximately 0.07% of FinVolution Group worth $1,268,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in FINV. Leading Securities Co Ltd purchased a new stake in shares of FinVolution Group in the fourth quarter worth $14,091,000. Norges Bank purchased a new stake in shares of FinVolution Group in the fourth quarter worth $6,360,000. Prudential PLC purchased a new stake in shares of FinVolution Group in the fourth quarter worth $3,370,000. Renaissance Group LLC purchased a new stake in shares of FinVolution Group in the fourth quarter worth $2,732,000. Finally, EAM Global Investors LLC purchased a new stake in shares of FinVolution Group in the fourth quarter worth $2,613,000. Institutional investors own 31.15% of the company's stock.

FinVolution Group Price Performance

Shares of FinVolution Group stock traded down $0.06 during trading on Friday, hitting $8.49. 466,659 shares of the company's stock traded hands, compared to its average volume of 819,406. FinVolution Group has a 1 year low of $4.63 and a 1 year high of $11.08. The stock has a market capitalization of $2.15 billion, a P/E ratio of 7.31 and a beta of 0.30. The business has a 50-day simple moving average of $8.58 and a 200-day simple moving average of $7.65.

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

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

FinVolution Group Increases Dividend

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

Analysts Set New Price Targets

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

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.