FinVolution Group (NYSE:FINV) Receives “Neutral” Rating from UBS Group

UBS Group restated their neutral rating on shares of FinVolution Group (NYSE:FINV) in a research report sent to investors on Thursday, Marketbeat.com reports. They currently have a $11.80 price target on the stock, up from their previous price target of $7.80.

Separately, Citigroup raised FinVolution Group from a “neutral” rating to a “buy” rating and increased their price target for the company from $6.00 to $11.00 in a research note on Tuesday.

FinVolution Group Stock Down 6.0 %

Shares of FINV stock opened at $9.98 on Thursday. The firm has a market cap of $2.65 billion, a price-to-earnings ratio of 8.60 and a beta of 0.47. FinVolution Group has a 12 month low of $4.63 and a 12 month high of $11.08. The stock has a 50-day moving average price of $8.09 and a 200 day moving average price of $6.88.

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

FinVolution Group Increases Dividend

The business also recently declared an annual dividend, which will be paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 16th will be paid a $0.277 dividend. 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 dividend yield of 2%. FinVolution Group’s dividend payout ratio is 16.80%.

FinVolution Group declared that its board has authorized a stock repurchase program on Monday, March 17th that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 6.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Institutional Investors Weigh In On FinVolution Group

Large investors have recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of FinVolution Group by 51.9% in the 3rd 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 period. Jane Street Group LLC grew its stake in FinVolution Group by 229.4% in the third quarter. Jane Street Group LLC now owns 185,420 shares of the company’s stock valued at $1,146,000 after acquiring an additional 129,138 shares during the period. Geode Capital Management LLC increased its holdings in shares of FinVolution Group by 4.4% in the third quarter. Geode Capital Management LLC now owns 74,723 shares of the company’s stock worth $462,000 after acquiring an additional 3,164 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of FinVolution Group during the fourth quarter worth about $28,000. Finally, Public Employees Retirement System of Ohio bought a new position in shares of FinVolution Group during the 3rd quarter valued at about $1,224,000. Institutional investors own 31.15% of the company’s stock.

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.