FinVolution Group (NYSE:FINV) Shares Acquired by Northern Trust Corp

Northern Trust Corp lifted its position in shares of FinVolution Group (NYSE:FINV - Free Report) by 41.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 296,256 shares of the company's stock after buying an additional 86,729 shares during the quarter. Northern Trust Corp owned approximately 0.11% of FinVolution Group worth $2,012,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of FINV. Susquehanna Fundamental Investments LLC purchased a new stake in shares of FinVolution Group during the 4th quarter valued at $264,000. Dimensional Fund Advisors LP grew its stake in shares of FinVolution Group by 0.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,329,814 shares of the company's stock valued at $15,820,000 after buying an additional 19,984 shares during the period. Marshall Wace LLP purchased a new stake in shares of FinVolution Group during the 4th quarter valued at $1,262,000. NewEdge Advisors LLC grew its stake in shares of FinVolution Group by 381.1% during the 4th quarter. NewEdge Advisors LLC now owns 12,624 shares of the company's stock valued at $86,000 after buying an additional 10,000 shares during the period. Finally, EAM Global Investors LLC purchased a new stake in shares of FinVolution Group during the 4th quarter valued at $2,613,000. 31.15% of the stock is currently owned by hedge funds and other institutional investors.

FinVolution Group Trading Down 1.0%

FINV traded down $0.09 during trading on Wednesday, hitting $8.59. 749,814 shares of the company's stock were exchanged, compared to its average volume of 824,805. FinVolution Group has a 1 year low of $4.63 and a 1 year high of $11.08. The stock has a 50 day moving average price of $8.47 and a 200 day moving average price of $7.78. The firm has a market cap of $2.17 billion, a P/E ratio of 7.40 and a beta of 0.30.

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

FinVolution Group declared that its board has approved a share repurchase program on Monday, March 17th that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 6.2% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's management believes its stock is undervalued.

FinVolution Group Increases Dividend

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

Analyst Ratings Changes

FINV has been the subject of several research reports. Citigroup raised shares of FinVolution Group from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $6.00 to $11.00 in a research note on Tuesday, March 18th. UBS Group upgraded shares of FinVolution Group from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $11.80 to $12.10 in a research note on Friday, May 23rd.

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.