IMC Chicago LLC Makes New $394,000 Investment in FinVolution Group (NYSE:FINV)

IMC Chicago LLC acquired a new stake in FinVolution Group (NYSE:FINV - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 40,954 shares of the company's stock, valued at approximately $394,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of FinVolution Group during the 4th quarter valued at about $28,000. Aigen Investment Management LP bought a new stake in FinVolution Group in the fourth quarter worth $75,000. NewEdge Advisors LLC boosted its holdings in 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 acquiring an additional 10,000 shares in the last quarter. Ameriprise Financial Inc. bought a new stake in FinVolution Group in the fourth quarter worth $90,000. Finally, SVB Wealth LLC bought a new stake in FinVolution Group in the fourth quarter worth $96,000. Institutional investors own 31.15% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on FINV. UBS Group raised FinVolution Group from a "neutral" rating to a "buy" rating and boosted their target price for the stock 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 boosted their target price for the stock from $6.00 to $11.00 in a report on Tuesday, March 18th.

FinVolution Group Price Performance

Shares of NYSE:FINV opened at $8.72 on Friday. The company has a market cap of $2.21 billion, a P/E ratio of 7.51 and a beta of 0.37. FinVolution Group has a 1 year low of $4.63 and a 1 year high of $11.08. The stock's fifty day moving average price is $8.24 and its 200-day moving average price is $7.99.

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 (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 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 given a dividend of $0.277 per share. This represents a 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 is 15.33%.

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

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.

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