FinVolution Group (NYSE:FINV) Upgraded to Buy at UBS Group

UBS Group upgraded shares of FinVolution Group (NYSE:FINV) from a neutral rating to a buy rating in a research note issued to investors on Friday, MarketBeat reports. They currently have $12.10 price objective on the stock, up from their previous price objective of $11.80.

Separately, Citigroup upgraded shares of FinVolution Group from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $6.00 to $11.00 in a research note on Tuesday, March 18th.

FinVolution Group Price Performance

FINV opened at $8.60 on Friday. FinVolution Group has a fifty-two week low of $4.63 and a fifty-two week high of $11.08. The firm’s fifty day moving average price is $8.54 and its two-hundred day moving average price is $7.73. The company has a market capitalization of $2.18 billion, a P/E ratio of 7.41 and a beta of 0.30.

FinVolution Group (NYSE:FINV) last posted its quarterly earnings results on Tuesday, May 20th. The company reported $0.41 earnings per share for the quarter. FinVolution Group had a net margin of 17.36% and a return on equity of 16.66%. The firm had revenue of $479.70 million for the quarter.

FinVolution Group announced that its Board of Directors has approved a stock 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 buy up to 6.2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

FinVolution Group Increases Dividend

The company also recently announced an annual dividend, which was paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 16th were paid a $0.277 dividend. This represents a dividend yield of 2%. The ex-dividend date was Wednesday, April 16th. This is an increase from FinVolution Group’s previous annual dividend of $0.24. FinVolution Group’s payout ratio is currently 15.33%.

Institutional Investors Weigh In On FinVolution Group

Several institutional investors and hedge funds have recently made changes to their positions in the company. Cerity Partners LLC boosted its stake in shares of FinVolution Group by 2.5% in the 1st quarter. Cerity Partners LLC now owns 59,268 shares of the company’s stock valued at $571,000 after purchasing an additional 1,439 shares in the last quarter. WealthCollab LLC boosted its stake in shares of FinVolution Group by 8.5% in the 4th quarter. WealthCollab LLC now owns 18,708 shares of the company’s stock valued at $127,000 after purchasing an additional 1,459 shares in the last quarter. SG Americas Securities LLC boosted its stake in shares of FinVolution Group by 5.5% in the 1st quarter. SG Americas Securities LLC now owns 29,753 shares of the company’s stock valued at $287,000 after purchasing an additional 1,554 shares in the last quarter. SYM FINANCIAL Corp boosted 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 in the last quarter. Finally, D Orazio & Associates Inc. boosted its stake in shares of FinVolution Group by 4.4% in the 1st quarter. D Orazio & Associates Inc. now owns 47,576 shares of the company’s stock valued at $458,000 after purchasing an additional 2,011 shares in the last quarter. 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.