FinVolution Group (NYSE:FINV) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its stake in FinVolution Group (NYSE:FINV - Free Report) by 6.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 463,988 shares of the company's stock after selling 31,800 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.17% of FinVolution Group worth $3,150,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of FinVolution Group by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 5,250,278 shares of the company's stock worth $35,649,000 after acquiring an additional 41,759 shares during the period. Bank of America Corp DE increased its stake in shares of FinVolution Group by 2.8% during the fourth quarter. Bank of America Corp DE now owns 3,162,853 shares of the company's stock worth $21,476,000 after buying an additional 84,863 shares during the period. Man Group plc increased its stake in shares of FinVolution Group by 3.4% during the fourth quarter. Man Group plc now owns 2,616,814 shares of the company's stock worth $17,768,000 after buying an additional 86,411 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of FinVolution Group by 0.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,329,814 shares of the company's stock worth $15,820,000 after buying an additional 19,984 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its stake in FinVolution Group by 20.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,217,497 shares of the company's stock valued at $15,057,000 after purchasing an additional 379,025 shares during the last quarter. Institutional investors and hedge funds own 31.15% of the company's stock.

FinVolution Group Stock Up 0.5%

Shares of FINV stock opened at $8.69 on Friday. FinVolution Group has a fifty-two week low of $4.63 and a fifty-two week high of $11.08. The stock has a market cap of $2.20 billion, a P/E ratio of 7.49 and a beta of 0.30. The business has a fifty day simple moving average of $8.28 and a 200-day simple moving average of $7.89.

FinVolution Group (NYSE:FINV - Get Free Report) last announced its quarterly earnings results on Tuesday, May 20th. The company reported $0.41 earnings per share for the quarter. The business had revenue of $479.70 million during 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 of Directors has initiated a share repurchase program on Monday, March 17th that allows the company to repurchase $150.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 6.2% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's management believes its shares are undervalued.

FinVolution Group Increases Dividend

The business also recently disclosed an annual dividend, which was paid on Wednesday, May 7th. Investors of record on Wednesday, April 16th were given a dividend of $0.277 per share. This represents a yield of 2%. The ex-dividend date of this dividend 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

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

About FinVolution Group

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.