FinVolution Group (NYSE:FINV) Upgraded at UBS Group

UBS Group upgraded shares of FinVolution Group (NYSE:FINV) from a neutral rating to a buy rating in a research report report published on Friday morning, Marketbeat Ratings reports. UBS Group currently has $12.10 target price on the stock, up from their prior target price of $11.80.

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

FinVolution Group Stock Performance

Shares of FINV stock opened at $8.60 on Friday. The company has a market capitalization of $2.18 billion, a P/E ratio of 7.41 and a beta of 0.30. The company’s 50 day moving average price is $8.54 and its two-hundred day moving average price is $7.76. FinVolution Group has a 52 week low of $4.63 and a 52 week high of $11.08.

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

FinVolution Group announced that its board has initiated a share buyback plan on Monday, March 17th that allows the company to repurchase $150.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 6.2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

FinVolution Group Increases Dividend

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

Institutional Trading of FinVolution Group

A number of hedge funds and other institutional investors have recently made changes to their positions in FINV. Leading Securities Co Ltd acquired a new stake in shares of FinVolution Group in the fourth quarter valued at approximately $14,091,000. Norges Bank acquired a new stake in shares of FinVolution Group in the fourth quarter valued at approximately $6,360,000. Millennium Management LLC raised its holdings in shares of FinVolution Group by 573.9% in the first quarter. Millennium Management LLC now owns 1,050,439 shares of the company’s stock valued at $10,116,000 after purchasing an additional 894,566 shares during the last quarter. Ativo Capital Management LLC acquired a new stake in shares of FinVolution Group in the first quarter valued at approximately $7,113,000. Finally, Prudential PLC raised its holdings in shares of FinVolution Group by 146.1% in the first quarter. Prudential PLC now owns 1,221,489 shares of the company’s stock valued at $11,763,000 after purchasing an additional 725,149 shares during the last quarter. 31.15% of the stock is currently owned by institutional investors and hedge funds.

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.