WealthCollab LLC Grows Stock Position in FinVolution Group (NYSE:FINV)

WealthCollab LLC raised its holdings in shares of FinVolution Group (NYSE:FINV) by 8.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 18,708 shares of the company’s stock after purchasing an additional 1,459 shares during the period. WealthCollab LLC’s holdings in FinVolution Group were worth $127,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in shares of FinVolution Group by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 5,250,278 shares of the company’s stock valued at $35,649,000 after purchasing an additional 41,759 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in FinVolution Group by 0.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,329,814 shares of the company’s stock valued at $15,820,000 after buying an additional 19,984 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in FinVolution Group by 20.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,217,497 shares of the company’s stock valued at $15,057,000 after buying an additional 379,025 shares during the last quarter. Leading Securities Co Ltd purchased a new position in FinVolution Group during the fourth quarter worth $14,091,000. Finally, O Shaughnessy Asset Management LLC raised 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 worth $7,047,000 after acquiring an additional 108,495 shares during the last quarter. 31.15% of the stock is currently owned by hedge funds and other institutional investors.

FinVolution Group Stock Performance

Shares of FINV opened at $7.88 on Wednesday. FinVolution Group has a fifty-two week low of $4.63 and a fifty-two week high of $11.08. The company has a market capitalization of $2.09 billion, a PE ratio of 6.79 and a beta of 0.32. The stock has a fifty day moving average of $8.55 and a two-hundred day moving average of $7.44.

FinVolution Group (NYSE:FINV) last released its earnings results 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 during the quarter.

FinVolution Group Increases Dividend

The business also recently announced an annual dividend, which will be paid on Wednesday, May 7th. Investors of record on Wednesday, April 16th will be given a $0.277 dividend. The ex-dividend date of this dividend 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 dividend payout ratio (DPR) is currently 16.80%.

FinVolution Group declared that its Board of Directors has approved a stock repurchase program on Monday, March 17th that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the company to buy up to 6.2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Citigroup raised FinVolution Group from a “neutral” rating to a “buy” rating and increased their price objective for the company from $6.00 to $11.00 in a research note on Tuesday, March 18th. UBS Group reaffirmed a “neutral” rating and set a $11.80 price target (up from $7.80) on shares of FinVolution Group in a research note on Thursday, March 20th.

About FinVolution Group

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.