JPMorgan Chase & Co. Takes Position in FinVolution Group (NYSE:FINV)

JPMorgan Chase & Co. purchased a new position in shares of FinVolution Group (NYSE:FINV - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 101,384 shares of the company's stock, valued at approximately $688,000.

A number of other large investors have also added to or reduced their stakes in FINV. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of FinVolution Group by 21.2% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 23,722 shares of the company's stock valued at $164,000 after purchasing an additional 4,146 shares during the period. Leading Securities Co Ltd purchased a new stake in shares of FinVolution Group in the fourth quarter worth approximately $14,091,000. Vanguard Group Inc. increased its position in FinVolution Group by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 5,250,278 shares of the company's stock worth $35,649,000 after purchasing an additional 41,759 shares during the last quarter. LPL Financial LLC increased its stake in shares of FinVolution Group by 5.3% during the 4th quarter. LPL Financial LLC now owns 44,870 shares of the company's stock worth $305,000 after purchasing an additional 2,257 shares during the last quarter. Finally, American Century Companies Inc. lifted its holdings in FinVolution Group by 6.1% in the 4th quarter. American Century Companies Inc. now owns 880,235 shares of the company's stock worth $5,977,000 after purchasing an additional 50,427 shares during the last quarter. 31.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FINV has been the topic of a number of research reports. Citigroup raised shares of 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 research report on Tuesday, March 18th. UBS Group reaffirmed a "neutral" rating and issued 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 Up 5.3 %

Shares of NYSE FINV traded up $0.42 during mid-day trading on Friday, reaching $8.41. 666,318 shares of the company were exchanged, compared to its average volume of 808,553. The company's 50-day simple moving average is $8.54 and its 200-day simple moving average is $7.48. The stock has a market capitalization of $2.23 billion, a P/E ratio of 7.25 and a beta of 0.32. FinVolution Group has a twelve month low of $4.63 and a twelve month high of $11.08.

FinVolution Group (NYSE:FINV - Get Free Report) last issued its earnings results on Monday, March 17th. The company reported $0.38 earnings per share (EPS) for the quarter. The business had revenue of $473.57 million during 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 will be paid on Wednesday, May 7th. Investors of record on Wednesday, April 16th will be issued a $0.277 dividend. This is a positive change from FinVolution Group's previous annual dividend of $0.24. This represents a yield of 2%. The ex-dividend date of this dividend is Wednesday, April 16th. FinVolution Group's payout ratio is presently 16.80%.

FinVolution Group announced that its Board of Directors has authorized a stock repurchase program on Monday, March 17th that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the company to reacquire up to 6.2% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's board believes its shares are 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.