FinVolution Group (NYSE:FINV) Shares Purchased by Nomura Holdings Inc.

Nomura Holdings Inc. boosted its stake in FinVolution Group (NYSE:FINV) by 29.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 85,490 shares of the company’s stock after buying an additional 19,500 shares during the period. Nomura Holdings Inc.’s holdings in FinVolution Group were worth $580,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in FINV. Mirae Asset Global Investments Co. Ltd. acquired a new stake in FinVolution Group in the fourth quarter worth $28,000. Aigen Investment Management LP acquired a new stake in FinVolution Group in the fourth quarter worth $75,000. NewEdge Advisors LLC increased its position in FinVolution Group by 381.1% in the fourth quarter. NewEdge Advisors LLC now owns 12,624 shares of the company’s stock worth $86,000 after buying an additional 10,000 shares during the period. Ameriprise Financial Inc. acquired a new stake in FinVolution Group in the fourth quarter worth $90,000. Finally, SYM FINANCIAL Corp increased its position in FinVolution Group by 14.4% in the fourth quarter. SYM FINANCIAL Corp now owns 13,543 shares of the company’s stock worth $92,000 after buying an additional 1,706 shares during the period. 31.15% of the stock is owned by institutional investors and hedge funds.

FinVolution Group Stock Down 2.4%

NYSE:FINV opened at $8.60 on Wednesday. The business’s 50-day moving average price is $8.60 and its 200 day moving average price is $7.70. The firm has a market cap of $2.18 billion, a P/E ratio of 7.41 and a beta of 0.30. FinVolution Group has a 52-week low of $4.63 and a 52-week high of $11.08.

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

FinVolution Group declared that its board has authorized a share buyback plan on Monday, March 17th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the company to buy up to 6.2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

FinVolution Group Increases Dividend

The business also recently declared an annual dividend, which was paid on Wednesday, May 7th. Investors of record on Wednesday, April 16th were given a $0.277 dividend. This is a positive change from FinVolution Group’s previous annual dividend of $0.24. The ex-dividend date was Wednesday, April 16th. This represents a dividend yield of 2%. FinVolution Group’s dividend payout ratio (DPR) is 16.80%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on FINV shares. Citigroup raised FinVolution Group from a “neutral” rating to a “buy” rating and raised their price target for the company 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.