Causeway Capital Management LLC Cuts Position in FinVolution Group (NYSE:FINV)

Causeway Capital Management LLC decreased its holdings in shares of FinVolution Group (NYSE:FINV - Free Report) by 35.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,802,844 shares of the company's stock after selling 1,542,431 shares during the period. Causeway Capital Management LLC owned about 1.06% of FinVolution Group worth $19,031,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. SYM FINANCIAL Corp boosted its position in FinVolution Group by 14.4% during the fourth quarter. SYM FINANCIAL Corp now owns 13,543 shares of the company's stock worth $92,000 after acquiring an additional 1,706 shares during the last quarter. LPL Financial LLC lifted its position in FinVolution Group by 5.3% in the fourth quarter. LPL Financial LLC now owns 44,870 shares of the company's stock valued at $305,000 after buying an additional 2,257 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of FinVolution Group by 4.4% during the 3rd quarter. Geode Capital Management LLC now owns 74,723 shares of the company's stock worth $462,000 after purchasing an additional 3,164 shares during the period. Lester Murray Antman dba SimplyRich increased its holdings in FinVolution Group by 8.0% in the 4th quarter. Lester Murray Antman dba SimplyRich now owns 45,307 shares of the company's stock valued at $307,000 after purchasing an additional 3,348 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in FinVolution Group in the fourth quarter valued at approximately $28,000. Institutional investors and hedge funds own 31.15% of the company's stock.

Analyst Ratings Changes

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

FinVolution Group Stock Down 1.0 %

FinVolution Group stock traded down $0.07 during midday trading on Friday, reaching $7.14. The company's stock had a trading volume of 1,434,357 shares, compared to its average volume of 795,355. The company has a market cap of $1.89 billion, a P/E ratio of 6.16 and a beta of 0.32. The business has a 50-day simple moving average of $8.67 and a 200-day simple moving average of $7.39. 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 issued its quarterly earnings data on Monday, March 17th. The company reported $0.38 earnings per share for the quarter. The business had revenue of $473.57 million during the quarter. FinVolution Group had a net margin of 17.36% and a return on equity of 16.66%.

FinVolution Group announced that its board has authorized a share repurchase program on Monday, March 17th that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the company to purchase up to 6.2% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's management believes its shares are undervalued.

FinVolution Group Increases Dividend

The firm also recently announced an annual dividend, which will be paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 16th will be given a dividend of $0.277 per share. The ex-dividend date is Wednesday, April 16th. This is a positive change from FinVolution Group's previous annual dividend of $0.24. This represents a dividend yield of 2%. FinVolution Group's dividend payout ratio (DPR) is 16.80%.

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.