FinVolution Group (NYSE:FINV) Shares Up 5.2% – What’s Next?

FinVolution Group (NYSE:FINV) traded up 5.2% during trading on Thursday . The stock traded as high as $10.29 and last traded at $10.33. Approximately 666,107 shares were traded during trading, a decline of 8% from the average session volume of 722,862 shares. The stock had previously closed at $9.81.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on FINV. UBS Group reissued a “neutral” rating and issued a $11.80 price objective (up previously from $7.80) on shares of FinVolution Group in a report on Thursday, March 20th. Citigroup raised shares of FinVolution Group from a “neutral” rating to a “buy” rating and increased their target price for the stock from $6.00 to $11.00 in a research note on Tuesday, March 18th.

FinVolution Group Stock Performance

The firm’s 50 day moving average is $8.45 and its two-hundred day moving average is $7.08. The stock has a market capitalization of $2.59 billion, a PE ratio of 8.40 and a beta of 0.47.

FinVolution Group (NYSE:FINV) last issued its quarterly earnings results on Monday, March 17th. The company reported $0.38 earnings per share for the quarter. The company had revenue of $473.57 million for the quarter. FinVolution Group had a return on equity of 16.66% and a net margin of 17.36%.

FinVolution Group Increases Dividend

The company also recently declared an annual dividend, which will be paid on Wednesday, May 7th. Investors of record on Wednesday, April 16th will be paid a $0.277 dividend. The ex-dividend date of this dividend is Wednesday, April 16th. This represents a yield of 2%. This is an increase from FinVolution Group’s previous annual dividend of $0.24. FinVolution Group’s payout ratio is currently 16.80%.

FinVolution Group announced that its Board of Directors has authorized a share buyback plan on Monday, March 17th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 6.2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Hedge Funds Weigh In On FinVolution Group

Institutional investors and hedge funds have recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of FinVolution Group during the 3rd quarter worth about $434,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in FinVolution Group by 51.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 495,788 shares of the company’s stock valued at $3,064,000 after purchasing an additional 169,344 shares during the last quarter. Walleye Capital LLC raised its holdings in FinVolution Group by 134.4% during the third quarter. Walleye Capital LLC now owns 476,294 shares of the company’s stock worth $2,943,000 after purchasing an additional 273,055 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of FinVolution Group during the 3rd quarter worth approximately $58,000. Finally, Ascent Group LLC purchased a new stake in shares of FinVolution Group during the 3rd quarter worth approximately $103,000. Institutional investors and hedge funds own 31.15% of the company’s stock.

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.