UBS Group Reaffirms “Neutral” Rating for FinVolution Group (NYSE:FINV)

FinVolution Group (NYSE:FINV)‘s stock had its “neutral” rating reissued by research analysts at UBS Group in a report issued on Thursday. They currently have a $11.80 target price on the stock, up from their prior target price of $7.80. UBS Group’s price objective points to a potential upside of 17.09% from the stock’s current price.

Separately, Citigroup upgraded FinVolution Group from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $6.00 to $11.00 in a research note on Tuesday.

FinVolution Group Stock Down 5.0 %

Shares of NYSE FINV traded down $0.53 during trading on Thursday, reaching $10.08. The company had a trading volume of 380,400 shares, compared to its average volume of 953,266. FinVolution Group has a 12-month low of $4.63 and a 12-month high of $11.08. The business’s 50-day moving average is $8.03 and its 200 day moving average is $6.86. The stock has a market cap of $2.67 billion, a PE ratio of 8.68 and a beta of 0.47.

FinVolution Group (NYSE:FINV) last announced its quarterly earnings data on Monday, March 17th. The company reported $0.38 EPS for the quarter. The company 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 announced that its Board of Directors has initiated a share buyback program on Monday, March 17th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the company to repurchase up to 6.2% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Institutional Trading of FinVolution Group

Several institutional investors and hedge funds have recently modified their holdings of FINV. Vanguard Group Inc. raised its holdings in FinVolution Group by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 5,250,278 shares of the company’s stock valued at $35,649,000 after acquiring an additional 41,759 shares during the period. State Street Corp raised its stake in FinVolution Group by 8.3% during the 3rd quarter. State Street Corp now owns 3,496,614 shares of the company’s stock valued at $21,609,000 after purchasing an additional 268,843 shares during the period. Bank of America Corp DE lifted its holdings in FinVolution Group by 2.8% in the 4th 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 in the last quarter. Man Group plc boosted its stake in FinVolution Group by 3.4% in the 4th quarter. Man Group plc now owns 2,616,814 shares of the company’s stock worth $17,768,000 after purchasing an additional 86,411 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in FinVolution Group by 0.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,329,814 shares of the company’s stock worth $15,820,000 after purchasing an additional 19,984 shares during the period. 31.15% of the stock is currently owned by institutional investors.

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.