Leading Securities Co Ltd Takes Position in FinVolution Group (NYSE:FINV)

Leading Securities Co Ltd acquired a new position in shares of FinVolution Group (NYSE:FINV) during the 4th quarter, HoldingsChannel reports. The firm acquired 2,075,330 shares of the company’s stock, valued at approximately $14,091,000. FinVolution Group comprises 45.8% of Leading Securities Co Ltd’s holdings, making the stock its largest position.

A number of other large investors have also recently bought and sold shares of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in FinVolution Group by 51.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 495,788 shares of the company’s stock valued at $3,064,000 after buying an additional 169,344 shares during the last quarter. Jane Street Group LLC lifted its position in FinVolution Group by 229.4% in the 3rd quarter. Jane Street Group LLC now owns 185,420 shares of the company’s stock valued at $1,146,000 after purchasing an additional 129,138 shares during the last quarter. Geode Capital Management LLC boosted its stake in FinVolution Group by 4.4% during the 3rd quarter. Geode Capital Management LLC now owns 74,723 shares of the company’s stock valued at $462,000 after purchasing an additional 3,164 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new position in FinVolution Group in the 4th quarter worth about $28,000. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of FinVolution Group during the third quarter valued at approximately $1,224,000. Institutional investors own 31.15% of the company’s stock.

FinVolution Group Trading Up 0.7 %

Shares of NYSE:FINV opened at $9.78 on Thursday. The company has a 50 day moving average of $8.33 and a 200-day moving average of $7.02. The firm has a market cap of $2.59 billion, a P/E ratio of 8.43 and a beta of 0.47. FinVolution Group has a twelve month low of $4.63 and a twelve month high of $11.08.

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

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

FinVolution Group Increases Dividend

The company also recently announced an annual dividend, which will be paid on Wednesday, May 7th. Investors of record on Wednesday, April 16th will be paid a dividend of $0.277 per share. The ex-dividend date of this dividend is Wednesday, April 16th. This represents a yield of 2%. This is a boost from FinVolution Group’s previous annual dividend of $0.24. FinVolution Group’s dividend payout ratio (DPR) is currently 16.80%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on FINV shares. Citigroup raised FinVolution Group from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $6.00 to $11.00 in a report on Tuesday, March 18th. UBS Group reissued 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.

FinVolution Group 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.