NewEdge Advisors LLC Grows Holdings in FinVolution Group (NYSE:FINV)

NewEdge Advisors LLC raised its position in FinVolution Group (NYSE:FINV) by 381.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,624 shares of the company’s stock after buying an additional 10,000 shares during the period. NewEdge Advisors LLC’s holdings in FinVolution Group were worth $86,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of FinVolution Group during the fourth quarter valued at approximately $28,000. Aigen Investment Management LP purchased a new stake in shares of FinVolution Group during the 4th quarter valued at $75,000. SYM FINANCIAL Corp raised its stake in shares of FinVolution Group by 14.4% during the 4th quarter. SYM FINANCIAL Corp now owns 13,543 shares of the company’s stock worth $92,000 after purchasing an additional 1,706 shares during the period. SVB Wealth LLC bought a new position in FinVolution Group during the fourth quarter valued at about $96,000. Finally, Raymond James Financial Inc. purchased a new stake in FinVolution Group during the fourth quarter worth about $118,000. Institutional investors own 31.15% of the company’s stock.

FinVolution Group Stock Performance

Shares of FinVolution Group stock opened at $8.41 on Friday. The stock has a market capitalization of $2.23 billion, a P/E ratio of 7.25 and a beta of 0.32. FinVolution Group has a 52-week low of $4.63 and a 52-week high of $11.08. The stock’s 50-day simple moving average is $8.54 and its 200 day simple moving average is $7.49.

FinVolution Group (NYSE:FINV) last released its quarterly earnings data on Monday, March 17th. The company reported $0.38 EPS for the quarter. FinVolution Group had a net margin of 17.36% and a return on equity of 16.66%. The company 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. Shareholders of record on Wednesday, April 16th will be issued a dividend of $0.277 per share. This represents a yield of 2%. The ex-dividend date is Wednesday, April 16th. This is a positive change from FinVolution Group’s previous annual dividend of $0.24. FinVolution Group’s payout ratio is presently 16.80%.

FinVolution Group declared that its Board of Directors has approved a stock repurchase plan on Monday, March 17th that permits the company to buyback $150.00 million in shares. This buyback authorization permits the company to reacquire up to 6.2% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Citigroup upgraded shares of FinVolution Group from a “neutral” rating to a “buy” rating and boosted their target price for the company from $6.00 to $11.00 in a research note on Tuesday, March 18th. UBS Group reiterated a “neutral” rating and issued a $11.80 price objective (up previously 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.