FinVolution Group (NYSE:FINV) Receives “Neutral” Rating from UBS Group

UBS Group reiterated their neutral rating on shares of FinVolution Group (NYSE:FINV) in a research note published on Thursday, Marketbeat.com reports. They currently have a $11.80 price objective on the stock, up from their prior price objective of $7.80.

Separately, Citigroup raised 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 report on Tuesday.

FinVolution Group Price Performance

FINV opened at $9.98 on Thursday. The company has a market capitalization of $2.65 billion, a P/E ratio of 8.60 and a beta of 0.47. The firm’s fifty day moving average price is $8.09 and its two-hundred day moving average price is $6.88. FinVolution Group has a fifty-two week low of $4.63 and a fifty-two week high of $11.08.

FinVolution Group (NYSE:FINV) last issued its earnings results on Monday, March 17th. The company reported $0.38 earnings per share for the quarter. The business 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 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 issued a dividend of $0.277 per share. This is an increase from FinVolution Group’s previous annual dividend of $0.24. This represents a yield of 2%. The ex-dividend date of this dividend is Wednesday, April 16th. FinVolution Group’s dividend payout ratio (DPR) is currently 16.80%.

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

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of FINV. Mirae Asset Global Investments Co. Ltd. acquired a new stake in FinVolution Group during the 4th quarter valued at $28,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of FinVolution Group in the third quarter valued at $58,000. Aigen Investment Management LP bought a new position in shares of FinVolution Group in the fourth quarter valued at about $75,000. NewEdge Advisors LLC lifted its position in FinVolution Group by 381.1% during the 4th quarter. NewEdge Advisors LLC now owns 12,624 shares of the company’s stock worth $86,000 after buying an additional 10,000 shares in the last quarter. Finally, Ameriprise Financial Inc. bought a new stake in FinVolution Group during the 4th quarter worth about $90,000. Institutional investors own 31.15% of the company’s stock.

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.