FinVolution Group (NYSE:FINV) Shares Sold by Caxton Associates LP

Caxton Associates LP cut its position in shares of FinVolution Group (NYSE:FINV - Free Report) by 36.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 72,561 shares of the company's stock after selling 41,903 shares during the period. Caxton Associates LP's holdings in FinVolution Group were worth $493,000 as of its most recent filing with the Securities & Exchange Commission.

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

Analyst Ratings Changes

A number of equities analysts recently commented on FINV shares. Citigroup raised shares of FinVolution Group from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $6.00 to $11.00 in a research note on Tuesday, March 18th. UBS Group reissued a "neutral" rating and issued a $11.80 price target (up from $7.80) on shares of FinVolution Group in a research report on Thursday, March 20th.

FinVolution Group Price Performance

Shares of NYSE:FINV remained flat at $8.31 during trading on Friday. 381,689 shares of the stock were exchanged, compared to its average volume of 821,115. The stock has a 50 day moving average of $8.55 and a 200-day moving average of $7.56. FinVolution Group has a twelve month low of $4.63 and a twelve month high of $11.08. The firm has a market cap of $2.10 billion, a P/E ratio of 7.16 and a beta of 0.30.

FinVolution Group (NYSE:FINV - Get Free Report) last released its quarterly earnings results on Monday, March 17th. The company reported $0.38 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 business had revenue of $473.57 million for the quarter.

FinVolution Group Increases Dividend

The firm also recently declared an annual dividend, which was paid on Wednesday, May 7th. Shareholders of record on Wednesday, April 16th were issued a $0.277 dividend. This represents a yield of 2%. The ex-dividend date of this dividend was Wednesday, April 16th. This is an increase from FinVolution Group's previous annual dividend of $0.24. FinVolution Group's dividend payout ratio (DPR) is currently 16.80%.

FinVolution Group declared that its board has initiated a stock buyback plan on Monday, March 17th that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes 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 leadership believes its stock is undervalued.

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.