BNP Paribas Financial Markets Invests $521,000 in FinVolution Group (NYSE:FINV)

BNP Paribas Financial Markets purchased a new position in shares of FinVolution Group (NYSE:FINV - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 76,674 shares of the company's stock, valued at approximately $521,000.

Other hedge funds also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of FinVolution Group during the fourth quarter valued at approximately $28,000. Aigen Investment Management LP acquired a new position in shares of FinVolution Group during the fourth quarter valued at approximately $75,000. NewEdge Advisors LLC raised its holdings in shares of FinVolution Group by 381.1% during the fourth quarter. NewEdge Advisors LLC now owns 12,624 shares of the company's stock valued at $86,000 after acquiring an additional 10,000 shares during the last quarter. Ameriprise Financial Inc. acquired a new position in shares of FinVolution Group during the fourth quarter valued at approximately $90,000. Finally, SYM FINANCIAL Corp raised its holdings in shares of FinVolution Group by 14.4% during the fourth quarter. SYM FINANCIAL Corp now owns 13,543 shares of the company's stock valued at $92,000 after acquiring an additional 1,706 shares during the last quarter. Hedge funds and other institutional investors own 31.15% of the company's stock.

FinVolution Group Price Performance

Shares of NYSE:FINV traded up $0.14 during midday trading on Thursday, hitting $8.74. The company had a trading volume of 870,249 shares, compared to its average volume of 825,570. FinVolution Group has a twelve month low of $4.63 and a twelve month high of $11.08. The stock has a market cap of $2.21 billion, a price-to-earnings ratio of 7.53 and a beta of 0.30. The business's 50-day simple moving average is $8.42 and its 200-day simple moving average is $7.80.

FinVolution Group (NYSE:FINV - Get Free Report) last posted its quarterly earnings results on Tuesday, May 20th. The company reported $0.41 EPS 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 $479.70 million during the quarter.

FinVolution Group announced that its board has approved a stock repurchase plan on Monday, March 17th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the company to reacquire 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 business also recently declared an annual dividend, which was paid on Wednesday, May 7th. Investors of record on Wednesday, April 16th were issued a $0.277 dividend. This represents a dividend yield of 2%. The ex-dividend date was Wednesday, April 16th. This is a boost from FinVolution Group's previous annual dividend of $0.24. FinVolution Group's dividend payout ratio (DPR) is currently 15.33%.

Analyst Ratings Changes

A number of equities analysts have commented on the company. UBS Group raised FinVolution Group from a "neutral" rating to a "buy" rating and increased their target price for the company from $11.80 to $12.10 in a report on Friday, May 23rd. Citigroup raised FinVolution Group from a "neutral" rating to a "buy" rating and increased their target price for the company from $6.00 to $11.00 in a report on Tuesday, March 18th.

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.