Allspring Global Investments Holdings LLC cut its holdings in shares of FinVolution Group (NYSE:FINV - Free Report) by 2.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,446,043 shares of the company's stock after selling 230,548 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 3.34% of FinVolution Group worth $46,286,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently modified their holdings of the business. Point72 Asset Management L.P. bought a new stake in shares of FinVolution Group during the second quarter valued at about $37,000. Ballentine Partners LLC purchased a new stake in FinVolution Group in the 4th quarter worth approximately $56,000. Mirae Asset Global Investments Co. Ltd. bought a new position in FinVolution Group in the 2nd quarter valued at $57,000. Vident Investment Advisory LLC purchased a new position in shares of FinVolution Group during the 4th quarter valued at $58,000. Finally, SVB Wealth LLC bought a new position in shares of FinVolution Group in the second quarter worth $61,000. Institutional investors own 31.15% of the company's stock.
Wall Street Analyst Weigh In
Separately, Nomura started coverage on FinVolution Group in a report on Monday, December 18th. They set a "buy" rating for the company.
Check Out Our Latest Research Report on FINV
FinVolution Group Trading Down 3.7 %
Shares of FINV traded down $0.19 during midday trading on Friday, reaching $5.00. The stock had a trading volume of 540,504 shares, compared to its average volume of 806,669. The company has a market capitalization of $1.41 billion, a price-to-earnings ratio of 4.27 and a beta of 0.52. FinVolution Group has a 12-month low of $3.63 and a 12-month high of $6.05. The company's 50-day moving average is $5.05 and its 200 day moving average is $4.86.
FinVolution Group (NYSE:FINV - Get Free Report) last issued its earnings results on Monday, March 18th. The company reported $0.29 EPS for the quarter. The company had revenue of $454.03 million for the quarter. FinVolution Group had a net margin of 18.70% and a return on equity of 18.53%.
FinVolution Group Increases Dividend
The firm also recently announced an annual dividend, which will be paid on Tuesday, May 7th. Investors of record on Tuesday, April 16th will be paid a $0.237 dividend. The ex-dividend date is Monday, April 15th. This is a boost from FinVolution Group's previous annual dividend of $0.22. This represents a dividend yield of 4.88%. FinVolution Group's dividend payout ratio (DPR) is presently 16.24%.
About FinVolution Group
(
Free Report)
FinVolution Group operates in the online consumer finance industry. The company operates a fintech platform that is empowered by proprietary technologies connects underserved 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.
Further Reading
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