AIA Group Ltd Acquires 28,121 Shares of JOYY Inc. Sponsored ADR $JOYY

Key Points

• AIA Group acquired 28,121 JOYY shares in the third quarter, worth about $2.26 million and representing roughly 0.06% of the company. Institutional investors and hedge funds collectively own 36.83% of JOYY.
• JOYY raised its quarterly dividend from $1.50 to $1.55 per share, equivalent to $6.20 annually and a reported 7.6% yield.
• Analyst sentiment is positive: six analysts rate JOYY a Buy and one a Hold, with an average price target of $83.40. Shares opened at $81.21 in the report.

AIA Group Ltd acquired a new stake in JOYY Inc. Sponsored ADR (NASDAQ:JOYY - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 28,121 shares of the company's stock, valued at approximately $2,257,000. AIA Group Ltd owned approximately 0.06% of JOYY as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. acquired a new stake in shares of JOYY in the third quarter valued at about $31,000. EverSource Wealth Advisors LLC lifted its stake in shares of JOYY by 167.7% in the first quarter. EverSource Wealth Advisors LLC now owns 613 shares of the company's stock worth $36,000 after buying an additional 384 shares in the last quarter. Ramsey Quantitative Systems purchased a new position in shares of JOYY in the third quarter worth about $45,000. Integrated Wealth Concepts LLC acquired a new position in JOYY during the second quarter worth about $65,000. Finally, Nykredit A S acquired a new position in JOYY during the second quarter worth about $110,000. Institutional investors and hedge funds own 36.83% of the company's stock.

JOYY Stock Up 2.4%

NASDAQ:JOYY opened at $81.21 on Thursday. JOYY Inc. Sponsored ADR has a 52 week low of $54.24 and a 52 week high of $85.15. The company has a fifty day simple moving average of $79.30 and a two-hundred day simple moving average of $68.53. The company has a market cap of $3.98 billion, a price-to-earnings ratio of 19.25 and a beta of 0.44.

JOYY Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 16th. Investors of record on Wednesday, September 30th were issued a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a yield of 7.6%. This is a boost from JOYY's previous quarterly dividend of $1.50. The ex-dividend date was Wednesday, September 30th. JOYY's dividend payout ratio (DPR) is 147.49%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on JOYY. Jefferies Financial Group reiterated a "buy" rating and issued a $87.00 price objective on shares of JOYY in a report on Wednesday, August 26th. Weiss Ratings raised shares of JOYY from a "hold (c-)" rating to a "buy (b)" rating in a research note on Friday, August 28th. Benchmark reaffirmed a "buy" rating on shares of JOYY in a research note on Wednesday, August 26th. Citigroup reiterated a "buy" rating on shares of JOYY in a report on Wednesday, July 22nd. Finally, JPMorgan Chase & Co. upgraded shares of JOYY from a "neutral" rating to an "overweight" rating and boosted their price target for the stock from $35.00 to $98.00 in a research note on Wednesday, August 12th. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, JOYY currently has an average rating of "Moderate Buy" and an average target price of $83.40.

JOYY Profile

JOYY Inc NASDAQ: JOYY is a global technology company that operates video-based social media and live-streaming platforms. The company's services enable users to share live video, create and view short-form content, communicate through messaging and voice services, and participate in online communities.

JOYY's principal products include BIGO LIVE, a live-streaming platform; Likee, a short-form video and creation platform; and imo, an instant messaging and voice and video communication service.

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