Two Sigma Investments LP Purchases 68,259 Shares of FinVolution Group (NYSE:FINV)

Two Sigma Investments LP grew its stake in shares of FinVolution Group (NYSE:FINV - Free Report) by 15.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 521,099 shares of the company's stock after purchasing an additional 68,259 shares during the period. Two Sigma Investments LP owned about 0.20% of FinVolution Group worth $3,538,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. acquired a new position in FinVolution Group during the fourth quarter valued at $28,000. Aigen Investment Management LP acquired a new position in FinVolution Group in the 4th quarter worth about $75,000. NewEdge Advisors LLC increased its position in FinVolution Group by 381.1% in the 4th 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. acquired a new position in shares of FinVolution Group during the 4th quarter valued at about $90,000. Finally, SYM FINANCIAL Corp increased its holdings in shares of FinVolution Group by 14.4% during the 4th quarter. SYM FINANCIAL Corp now owns 13,543 shares of the company's stock valued at $92,000 after acquiring an additional 1,706 shares during the last quarter. 31.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

FinVolution Group Stock Performance

Shares of NYSE FINV traded up $0.01 during mid-day trading on Tuesday, reaching $8.42. 519,999 shares of the company traded hands, compared to its average volume of 823,908. The stock has a market cap of $2.13 billion, a PE ratio of 7.25 and a beta of 0.30. The company's fifty day moving average is $8.33 and its two-hundred day moving average is $7.87. FinVolution Group has a fifty-two week low of $4.63 and a fifty-two week high of $11.08.

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

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

FinVolution Group Increases Dividend

The firm also recently announced 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 an increase from FinVolution Group's previous annual dividend of $0.24. The ex-dividend date was Wednesday, April 16th. This represents a yield of 2%. FinVolution Group's dividend payout ratio is presently 15.33%.

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.