Wellington Management Group LLP Acquires 81,187 Shares of FinVolution Group (NYSE:FINV)

Wellington Management Group LLP lifted its holdings in FinVolution Group (NYSE:FINV - Free Report) by 18.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 529,118 shares of the company's stock after acquiring an additional 81,187 shares during the quarter. Wellington Management Group LLP owned approximately 0.20% of FinVolution Group worth $3,593,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of FINV. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of FinVolution Group in the fourth quarter valued at $28,000. Aigen Investment Management LP acquired a new position in shares of FinVolution Group during the fourth quarter worth approximately $75,000. NewEdge Advisors LLC grew its stake 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 purchasing an additional 10,000 shares during the last quarter. Ameriprise Financial Inc. acquired a new stake in shares of FinVolution Group in the fourth quarter valued at approximately $90,000. Finally, SVB Wealth LLC acquired a new position in FinVolution Group during the 4th quarter worth $96,000. 31.15% of the stock is owned by institutional investors and hedge funds.

FinVolution Group Trading Down 0.9%

Shares of NYSE:FINV traded down $0.08 during midday trading on Friday, hitting $8.59. The company had a trading volume of 232,583 shares, compared to its average volume of 819,824. FinVolution Group has a 12 month low of $4.63 and a 12 month high of $11.08. The firm has a fifty day simple moving average of $8.28 and a 200 day simple moving average of $7.89. The stock has a market cap of $2.18 billion, a price-to-earnings ratio of 7.41 and a beta of 0.30.

FinVolution Group (NYSE:FINV - Get Free Report) last released its earnings results on Tuesday, May 20th. The company reported $0.41 earnings per share 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 Increases Dividend

The company also recently disclosed an annual dividend, which was paid on Wednesday, May 7th. Investors of record on Wednesday, April 16th were paid a dividend of $0.277 per share. This is a positive change from FinVolution Group's previous annual dividend of $0.24. The ex-dividend date of this dividend was Wednesday, April 16th. This represents a yield of 2%. FinVolution Group's dividend payout ratio (DPR) is presently 15.33%.

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

Analyst Ratings Changes

A number of analysts recently commented on the company. UBS Group upgraded FinVolution Group from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $11.80 to $12.10 in a research report on Friday, May 23rd. Citigroup upgraded shares of FinVolution Group from a "neutral" rating to a "buy" rating and increased their price objective for the company from $6.00 to $11.00 in a 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.