Man Group plc Grows Stock Holdings in FinVolution Group (NYSE:FINV)

Man Group plc lifted its position in 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 (SEC). The institutional investor owned 2,616,814 shares of the company's stock after acquiring an additional 86,411 shares during the quarter. Man Group plc owned approximately 0.99% of FinVolution Group worth $17,768,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. purchased a new position in FinVolution Group during the fourth quarter worth about $28,000. Aigen Investment Management LP bought a new position in shares of FinVolution Group during the 4th quarter worth approximately $75,000. NewEdge Advisors LLC boosted its stake 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 worth $86,000 after buying an additional 10,000 shares during the last quarter. Ameriprise Financial Inc. purchased a new position in shares of FinVolution Group in the 4th quarter worth approximately $90,000. Finally, SYM FINANCIAL Corp grew its holdings in shares of FinVolution Group by 14.4% in the fourth 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 in the last quarter. Hedge funds and other institutional investors own 31.15% of the company's stock.

FinVolution Group Stock Performance

FINV stock traded down $0.01 during mid-day trading on Thursday, hitting $8.58. The company had a trading volume of 234,432 shares, compared to its average volume of 818,908. The firm has a market cap of $2.17 billion, a PE ratio of 7.39 and a beta of 0.30. FinVolution Group has a 12 month low of $4.63 and a 12 month high of $11.08. The stock's fifty day moving average price is $8.60 and its two-hundred day moving average price is $7.70.

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

FinVolution Group declared that its Board of Directors has approved a share repurchase plan on Monday, March 17th that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 6.2% of its shares through open market purchases. Shares buyback plans are often a sign that the company's board of directors believes its shares are undervalued.

FinVolution Group Increases Dividend

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

Analyst Upgrades and Downgrades

FINV has been the subject of a number of research analyst reports. Citigroup raised FinVolution Group from a "neutral" rating to a "buy" rating and increased their price target for the company from $6.00 to $11.00 in a research report on Tuesday, March 18th. UBS Group reaffirmed a "neutral" rating and set a $11.80 target price (up from $7.80) on shares of FinVolution Group in a research report on Thursday, March 20th.

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.