Envestnet Asset Management Inc. Takes Position in FinVolution Group (NYSE:FINV)

Envestnet Asset Management Inc. purchased a new position in FinVolution Group (NYSE:FINV - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 195,270 shares of the company's stock, valued at approximately $1,326,000. Envestnet Asset Management Inc. owned about 0.07% of FinVolution Group as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in FINV. Vanguard Group Inc. raised its holdings in FinVolution Group by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 5,250,278 shares of the company's stock worth $35,649,000 after purchasing an additional 41,759 shares during the period. Arrowstreet Capital Limited Partnership raised its stake 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. Leading Securities Co Ltd acquired a new stake in FinVolution Group during the 4th quarter worth $14,091,000. O Shaughnessy Asset Management LLC lifted its holdings in FinVolution Group by 11.7% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 1,037,878 shares of the company's stock worth $7,047,000 after acquiring an additional 108,495 shares in the last quarter. Finally, Norges Bank acquired a new position in FinVolution Group in the fourth quarter valued at about $6,360,000. 31.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

FinVolution Group Price Performance

Shares of FINV traded down $0.04 during midday trading on Monday, hitting $8.37. The stock had a trading volume of 128,341 shares, compared to its average volume of 1,086,439. The firm has a market cap of $2.12 billion, a price-to-earnings ratio of 7.21 and a beta of 0.30. The company has a 50 day simple moving average of $8.54 and a two-hundred day simple moving average of $7.50. FinVolution Group has a twelve month low of $4.63 and a twelve month high of $11.08.

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

FinVolution Group announced that its board has initiated a share repurchase plan on Monday, March 17th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 6.2% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's board believes its shares are undervalued.

FinVolution Group Increases Dividend

The firm also recently declared an annual dividend, which will be paid on Wednesday, May 7th. Shareholders of record on Wednesday, April 16th will be paid 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 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.