Envestnet Asset Management Inc. purchased a new position in shares of FinVolution Group (NYSE:FINV - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 195,270 shares of the company's stock, valued at approximately $1,326,000. Envestnet Asset Management Inc. owned approximately 0.07% of FinVolution Group as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. SYM FINANCIAL Corp raised its holdings in shares of FinVolution Group by 14.4% in the fourth quarter. SYM FINANCIAL Corp now owns 13,543 shares of the company's stock valued at $92,000 after purchasing an additional 1,706 shares during the last quarter. LPL Financial LLC boosted its stake in shares of FinVolution Group by 5.3% during the 4th quarter. LPL Financial LLC now owns 44,870 shares of the company's stock worth $305,000 after buying an additional 2,257 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of FinVolution Group by 4.4% in the 3rd quarter. Geode Capital Management LLC now owns 74,723 shares of the company's stock valued at $462,000 after acquiring an additional 3,164 shares in the last quarter. Lester Murray Antman dba SimplyRich increased its position in shares of FinVolution Group by 8.0% in the fourth quarter. Lester Murray Antman dba SimplyRich now owns 45,307 shares of the company's stock valued at $307,000 after acquiring an additional 3,348 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in FinVolution Group during the fourth quarter worth about $28,000. Institutional investors and hedge funds own 31.15% of the company's stock.
Analyst Ratings Changes
FINV has been the subject of several recent analyst reports. UBS Group reissued a "neutral" rating and issued a $11.80 price objective (up previously from $7.80) on shares of FinVolution Group in a report on Thursday, March 20th. Citigroup raised FinVolution Group from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $6.00 to $11.00 in a research report on Tuesday, March 18th.
View Our Latest Stock Analysis on FinVolution Group
FinVolution Group Price Performance
Shares of FinVolution Group stock opened at $7.88 on Wednesday. The business has a fifty day simple moving average of $8.55 and a two-hundred day simple moving average of $7.44. FinVolution Group has a 1 year low of $4.63 and a 1 year high of $11.08. The company has a market capitalization of $2.09 billion, a price-to-earnings ratio of 6.79 and a beta of 0.32.
FinVolution Group (NYSE:FINV - Get Free Report) last posted its earnings results on Monday, March 17th. The company reported $0.38 earnings per share (EPS) for the quarter. FinVolution Group had a net margin of 17.36% and a return on equity of 16.66%. The company had revenue of $473.57 million during the quarter.
FinVolution Group Increases Dividend
The company also recently disclosed an annual dividend, which will be paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 16th will be issued a dividend of $0.277 per share. This represents a dividend yield of 2%. The ex-dividend date of this dividend is Wednesday, April 16th. This is a boost from FinVolution Group's previous annual dividend of $0.24. FinVolution Group's payout ratio is currently 16.80%.
FinVolution Group announced that its board has authorized a stock buyback program on Monday, March 17th that permits the company to buyback $150.00 million in shares. This buyback authorization permits the company to purchase up to 6.2% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's management believes its stock is undervalued.
About FinVolution Group
(
Free Report)
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.
Further Reading
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