Marshall Wace LLP Acquires Shares of 185,914 FinVolution Group (NYSE:FINV)

Marshall Wace LLP acquired a new stake in FinVolution Group (NYSE:FINV) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 185,914 shares of the company’s stock, valued at approximately $1,262,000.

A number of other large investors also recently modified their holdings of FINV. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of FinVolution Group in the 4th quarter valued at $28,000. Aigen Investment Management LP acquired a new position in shares of FinVolution Group in the 4th quarter valued at $75,000. NewEdge Advisors LLC boosted its holdings in shares of FinVolution Group by 381.1% in the 4th quarter. NewEdge Advisors LLC now owns 12,624 shares of the company’s stock valued at $86,000 after buying an additional 10,000 shares in the last quarter. SYM FINANCIAL Corp boosted its holdings in shares of FinVolution Group by 14.4% in the 4th 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 in the last quarter. Finally, SVB Wealth LLC acquired a new stake in FinVolution Group during the 4th quarter worth $96,000. 31.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Citigroup upgraded shares of FinVolution Group from a “neutral” rating to a “buy” rating and increased their price target for the stock from $6.00 to $11.00 in a research note on Tuesday, March 18th. UBS Group reiterated a “neutral” rating and set a $11.80 price target (up previously from $7.80) on shares of FinVolution Group in a research note on Thursday, March 20th.

FinVolution Group Price Performance

Shares of NYSE:FINV opened at $7.88 on Wednesday. FinVolution Group has a 1-year low of $4.63 and a 1-year high of $11.08. The stock has a market cap of $2.09 billion, a P/E ratio of 6.79 and a beta of 0.32. The firm has a fifty day moving average price of $8.55 and a 200 day moving average price of $7.44.

FinVolution Group (NYSE:FINV) last released its 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 announced that its board has approved a stock buyback program on Monday, March 17th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the company to buy up to 6.2% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board 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. Stockholders of record on Wednesday, April 16th will be paid a $0.277 dividend. This represents a dividend yield of 2%. The ex-dividend date is Wednesday, April 16th. This is a boost from FinVolution Group’s previous annual dividend of $0.24. FinVolution Group’s dividend payout ratio (DPR) is 16.80%.

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.