WealthCollab LLC Grows Holdings in FinVolution Group (NYSE:FINV)

WealthCollab LLC boosted its holdings in shares of FinVolution Group (NYSE:FINV) by 8.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 18,708 shares of the company’s stock after purchasing an additional 1,459 shares during the period. WealthCollab LLC’s holdings in FinVolution Group were worth $127,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of FINV. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of FinVolution Group during the fourth quarter worth about $28,000. Aigen Investment Management LP acquired a new stake in FinVolution Group during the 4th quarter worth approximately $75,000. NewEdge Advisors LLC grew its stake in shares of FinVolution Group by 381.1% in the 4th quarter. NewEdge Advisors LLC now owns 12,624 shares of the company’s stock valued at $86,000 after purchasing an additional 10,000 shares during the last quarter. SYM FINANCIAL Corp grew its stake in shares of 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 purchasing an additional 1,706 shares during the last quarter. Finally, SVB Wealth LLC acquired a new position in shares of FinVolution Group in the fourth quarter valued at approximately $96,000. 31.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

FinVolution Group Price Performance

FinVolution Group stock opened at $7.88 on Wednesday. The stock’s 50 day moving average price is $8.55 and its 200 day moving average price is $7.44. FinVolution Group has a 1-year low of $4.63 and a 1-year high of $11.08. The company has a market cap of $2.09 billion, a PE ratio of 6.79 and a beta of 0.32.

FinVolution Group (NYSE:FINV) last issued its earnings results 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 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 $0.277 dividend. The ex-dividend date of this dividend is Wednesday, April 16th. This is a boost from FinVolution Group’s previous annual dividend of $0.24. This represents a yield of 2%. FinVolution Group’s dividend payout ratio (DPR) is 16.80%.

FinVolution Group announced that its Board of Directors has approved 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 buy up to 6.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

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.