Prudential PLC Makes New Investment in FinVolution Group (NYSE:FINV)

Prudential PLC acquired a new position in FinVolution Group (NYSE:FINV - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 496,340 shares of the company's stock, valued at approximately $3,370,000. Prudential PLC owned approximately 0.19% of FinVolution Group as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently made changes to their positions in FINV. Vanguard Group Inc. lifted its position in FinVolution Group by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 5,250,278 shares of the company's stock worth $35,649,000 after buying an additional 41,759 shares in the last quarter. State Street Corp raised its stake in shares of FinVolution Group by 8.3% in the third quarter. State Street Corp now owns 3,496,614 shares of the company's stock worth $21,609,000 after acquiring an additional 268,843 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of FinVolution Group by 20.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,217,497 shares of the company's stock worth $15,057,000 after purchasing an additional 379,025 shares in the last quarter. Leading Securities Co Ltd bought a new stake in shares of FinVolution Group during the fourth quarter valued at approximately $14,091,000. Finally, O Shaughnessy Asset Management LLC increased its holdings in shares of FinVolution Group by 11.7% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 1,037,878 shares of the company's stock valued at $7,047,000 after purchasing an additional 108,495 shares in the last quarter. Institutional investors own 31.15% of the company's stock.

FinVolution Group Price Performance

Shares of NYSE FINV traded down $0.40 during mid-day trading on Friday, hitting $7.65. The company's stock had a trading volume of 2,610,403 shares, compared to its average volume of 771,524. The stock has a market cap of $2.03 billion, a price-to-earnings ratio of 6.59 and a beta of 0.32. The company's fifty day simple moving average is $8.73 and its 200-day simple moving average is $7.35. FinVolution Group has a one year low of $4.63 and a one year high of $11.08.

FinVolution Group (NYSE:FINV - Get Free Report) last announced its quarterly earnings data on Monday, March 17th. The company reported $0.38 earnings per share (EPS) for the quarter. The firm had revenue of $473.57 million for 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 has authorized a stock repurchase plan on Monday, March 17th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 6.2% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's management believes its stock is undervalued.

FinVolution Group Increases Dividend

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

Analysts Set New Price Targets

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

FinVolution Group 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.