NewEdge Advisors LLC Buys 10,000 Shares of FinVolution Group (NYSE:FINV)

NewEdge Advisors LLC grew its position in shares of 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 purchasing an additional 10,000 shares during the quarter. NewEdge Advisors LLC’s holdings in FinVolution Group were worth $86,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FINV. Vanguard Group Inc. lifted its holdings in FinVolution Group by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 5,250,278 shares of the company’s stock valued at $35,649,000 after buying an additional 41,759 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in shares of FinVolution Group by 20.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,217,497 shares of the company’s stock valued at $15,057,000 after purchasing an additional 379,025 shares during the period. Leading Securities Co Ltd acquired a new position in shares of FinVolution Group in the 4th quarter valued at about $14,091,000. O Shaughnessy Asset Management LLC grew its stake in FinVolution Group by 11.7% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 1,037,878 shares of the company’s stock worth $7,047,000 after purchasing an additional 108,495 shares during the period. Finally, Norges Bank bought a new stake in FinVolution Group in the fourth quarter worth approximately $6,360,000. Institutional investors and hedge funds own 31.15% of the company’s stock.

Wall Street Analysts Forecast Growth

FINV has been the topic of a number of research analyst reports. UBS Group restated a “neutral” rating and set a $11.80 price target (up from $7.80) on shares of FinVolution Group in a report on Thursday, March 20th. Citigroup raised shares of 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 research note on Tuesday, March 18th.

FinVolution Group Stock Performance

FINV stock opened at $8.41 on Friday. FinVolution Group has a fifty-two week low of $4.63 and a fifty-two 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. The company has a market cap of $2.23 billion, a P/E ratio of 7.25 and a beta of 0.32.

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

FinVolution Group declared that its Board of Directors has initiated a stock buyback 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 typically an indication that the company’s leadership believes its shares are undervalued.

FinVolution Group Increases Dividend

The firm 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 $0.277 dividend. This represents a dividend 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 dividend payout ratio is currently 16.80%.

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.