Legal & General Group Plc Acquires 6,066 Shares of FinVolution Group (NYSE:FINV)

Legal & General Group Plc increased its holdings in shares of FinVolution Group (NYSE:FINV) by 36.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 22,858 shares of the company’s stock after buying an additional 6,066 shares during the quarter. Legal & General Group Plc’s holdings in FinVolution Group were worth $155,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of FINV. Mirae Asset Global Investments Co. Ltd. acquired a new stake in FinVolution Group during the 4th quarter valued at approximately $28,000. Aigen Investment Management LP acquired a new stake in shares of FinVolution Group during the fourth quarter worth $75,000. SYM FINANCIAL Corp lifted its holdings in FinVolution Group by 14.4% in the fourth 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 period. SVB Wealth LLC bought a new stake in FinVolution Group during the fourth quarter valued at $96,000. Finally, Raymond James Financial Inc. acquired a new stake in 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 Trading Up 1.2 %

FinVolution Group stock opened at $8.01 on Friday. The company has a market cap of $2.12 billion, a price-to-earnings ratio of 6.90 and a beta of 0.32. The business’s 50 day simple moving average is $8.53 and its 200 day simple moving average is $7.46. FinVolution Group has a 12 month low of $4.63 and a 12 month high of $11.08.

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

FinVolution Group announced that its Board of Directors has authorized a share repurchase plan on Monday, March 17th that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 6.2% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its stock is undervalued.

FinVolution Group Increases Dividend

The business also recently announced 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. 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 is currently 16.80%.

Wall Street Analyst Weigh In

FINV has been the subject of several research analyst reports. Citigroup raised shares of FinVolution Group from a “neutral” rating to a “buy” rating and lifted their price target for the company from $6.00 to $11.00 in a research note 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 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.