Man Group plc Boosts Stake in FinVolution Group (NYSE:FINV)

Man Group plc boosted its holdings in shares of FinVolution Group (NYSE:FINV - Free Report) by 3.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,616,814 shares of the company's stock after acquiring an additional 86,411 shares during the period. Man Group plc owned 0.99% of FinVolution Group worth $17,768,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Nomura Holdings Inc. increased its stake in shares of FinVolution Group by 29.5% in the 4th quarter. Nomura Holdings Inc. now owns 85,490 shares of the company's stock worth $580,000 after acquiring an additional 19,500 shares during the last quarter. Lazard Asset Management LLC boosted its position in shares of FinVolution Group by 4.3% during the 4th quarter. Lazard Asset Management LLC now owns 173,788 shares of the company's stock valued at $1,180,000 after acquiring an additional 7,109 shares during the last quarter. Lighthouse Investment Partners LLC purchased a new stake in shares of FinVolution Group in the fourth quarter valued at about $99,000. Cubist Systematic Strategies LLC increased its position in FinVolution Group by 162.2% during the fourth quarter. Cubist Systematic Strategies LLC now owns 186,787 shares of the company's stock worth $1,268,000 after purchasing an additional 115,536 shares during the last quarter. Finally, Bank of America Corp DE increased its position in FinVolution Group by 2.8% during the fourth quarter. Bank of America Corp DE now owns 3,162,853 shares of the company's stock worth $21,476,000 after purchasing an additional 84,863 shares during the last quarter. Hedge funds and other institutional investors own 31.15% of the company's stock.

FinVolution Group Stock Performance

FINV opened at $8.49 on Friday. FinVolution Group has a one year low of $4.63 and a one year high of $11.08. The stock has a market capitalization of $2.15 billion, a PE ratio of 7.31 and a beta of 0.30. The business's 50 day moving average price is $8.58 and its 200 day moving average price is $7.65.

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

FinVolution Group declared that its board has approved a share repurchase plan on Monday, March 17th that allows the company to repurchase $150.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 6.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board believes its stock is undervalued.

FinVolution Group Increases Dividend

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

Analyst Upgrades and Downgrades

Several research firms have weighed in on FINV. UBS Group reiterated a "neutral" rating and issued a $11.80 target price (up from $7.80) on shares of FinVolution Group in a report on Thursday, March 20th. Citigroup upgraded FinVolution Group from a "neutral" rating to a "buy" rating and upped their price objective for the company from $6.00 to $11.00 in a report on Tuesday, March 18th.

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.

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