EAM Global Investors LLC Invests $2.61 Million in FinVolution Group (NYSE:FINV)

EAM Global Investors LLC acquired a new stake in FinVolution Group (NYSE:FINV) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 384,828 shares of the company’s stock, valued at approximately $2,613,000. EAM Global Investors LLC owned approximately 0.15% of FinVolution Group at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in FINV. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of FinVolution Group during the fourth quarter worth about $28,000. Aigen Investment Management LP acquired a new position in FinVolution Group during the fourth quarter worth $75,000. SYM FINANCIAL Corp increased its stake in FinVolution Group by 14.4% in the 4th quarter. SYM FINANCIAL Corp now owns 13,543 shares of the company’s stock valued at $92,000 after buying an additional 1,706 shares during the last quarter. SVB Wealth LLC bought a new stake in FinVolution Group during the 4th quarter worth about $96,000. Finally, Raymond James Financial Inc. acquired a new position in shares of FinVolution Group during the 4th quarter worth about $118,000. 31.15% of the stock is owned by institutional investors and hedge funds.

FinVolution Group Stock Down 4.7 %

NYSE:FINV opened at $7.59 on Wednesday. FinVolution Group has a 12-month low of $4.63 and a 12-month high of $11.08. The firm has a market capitalization of $2.01 billion, a price-to-earnings ratio of 6.54 and a beta of 0.32. The stock’s 50 day moving average price is $8.73 and its two-hundred day moving average price is $7.38.

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

FinVolution Group announced that its Board of Directors has initiated a share repurchase program on Monday, March 17th that permits the company to buyback $150.00 million in shares. This buyback authorization permits the company to buy up to 6.2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

FinVolution Group Increases Dividend

The business 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 a positive change from FinVolution Group’s previous annual dividend of $0.24. FinVolution Group’s dividend payout ratio is 16.80%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on FINV. Citigroup raised FinVolution Group from a “neutral” rating to a “buy” rating and increased their price target for the company from $6.00 to $11.00 in a research report 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 report 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.