Wellington Management Group LLP Raises Position in FinVolution Group (NYSE:FINV)

Wellington Management Group LLP increased its holdings in FinVolution Group (NYSE:FINV - Free Report) by 18.1% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 529,118 shares of the company's stock after buying an additional 81,187 shares during the period. Wellington Management Group LLP owned 0.20% of FinVolution Group worth $3,593,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in FINV. Mirae Asset Global Investments Co. Ltd. bought a new position in FinVolution Group in the 4th quarter worth about $28,000. Aigen Investment Management LP purchased a new position in shares of FinVolution Group during the fourth quarter worth about $75,000. NewEdge Advisors LLC increased its position in shares of FinVolution Group by 381.1% in the fourth quarter. NewEdge Advisors LLC now owns 12,624 shares of the company's stock worth $86,000 after purchasing an additional 10,000 shares during the last quarter. Ameriprise Financial Inc. bought a new position in shares of FinVolution Group in the fourth quarter worth approximately $90,000. Finally, SVB Wealth LLC purchased a new stake in FinVolution Group in the fourth quarter valued at approximately $96,000. Institutional investors own 31.15% of the company's stock.

FinVolution Group Price Performance

FINV stock traded down $0.08 during mid-day trading on Friday, hitting $8.59. 232,583 shares of the stock were exchanged, compared to its average volume of 821,867. The business has a fifty day moving average price of $8.25 and a 200 day moving average price of $7.93. FinVolution Group has a 12 month low of $4.63 and a 12 month high of $11.08. The stock has a market capitalization of $2.18 billion, a price-to-earnings ratio of 7.41 and a beta of 0.37.

FinVolution Group (NYSE:FINV - Get Free Report) last announced its quarterly earnings data on Tuesday, May 20th. The company reported $0.41 EPS for the quarter. The firm had revenue of $479.70 million for the quarter. FinVolution Group had a return on equity of 16.66% and a net margin of 17.36%.

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

FinVolution Group Increases Dividend

The business also recently declared an annual dividend, which was paid on Wednesday, May 7th. Shareholders of record on Wednesday, April 16th were paid a $0.277 dividend. This is a boost from FinVolution Group's previous annual dividend of $0.24. This represents a yield of 2%. The ex-dividend date of this dividend was Wednesday, April 16th. FinVolution Group's payout ratio is 15.33%.

Analysts Set New Price Targets

A number of research firms have commented on FINV. UBS Group raised shares of FinVolution Group from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $11.80 to $12.10 in a research note on Friday, May 23rd. Citigroup upgraded shares of FinVolution Group from a "neutral" rating to a "buy" rating and raised their price objective for the company from $6.00 to $11.00 in a research report on Tuesday, March 18th.

FinVolution Group 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.