FinVolution Group (NYSE:FINV) Stock Price Up 5.2% – Should You Buy?

FinVolution Group (NYSE:FINV) shot up 5.2% during trading on Thursday . The stock traded as high as $10.29 and last traded at $10.33. 666,107 shares traded hands during mid-day trading, a decline of 8% from the average session volume of 722,862 shares. The stock had previously closed at $9.81.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on FINV shares. UBS Group restated a “neutral” rating and set a $11.80 price objective (up from $7.80) on shares of FinVolution Group in a research report on Thursday, March 20th. Citigroup upgraded shares of FinVolution Group from a “neutral” rating to a “buy” rating and upped their price target for the stock from $6.00 to $11.00 in a research report on Tuesday, March 18th.

FinVolution Group Stock Up 5.6 %

The company has a 50-day moving average of $8.33 and a 200 day moving average of $7.02. The stock has a market capitalization of $2.75 billion, a PE ratio of 8.94 and a beta of 0.47.

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

FinVolution Group Increases Dividend

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

FinVolution Group announced that its board has initiated a share repurchase plan on Monday, March 17th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes 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 board of directors believes its shares are undervalued.

Hedge Funds Weigh In On FinVolution Group

A number of institutional investors have recently added to or reduced their stakes in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake 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 worth $3,064,000 after acquiring an additional 169,344 shares during the last quarter. Jane Street Group LLC grew its holdings in shares of 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 purchasing an additional 129,138 shares during the period. Geode Capital Management LLC increased its position in FinVolution Group by 4.4% during the third quarter. Geode Capital Management LLC now owns 74,723 shares of the company’s stock worth $462,000 after purchasing an additional 3,164 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in FinVolution Group during the fourth quarter worth about $28,000. Finally, Public Employees Retirement System of Ohio acquired a new position in FinVolution Group in the 3rd quarter valued at about $1,224,000. Hedge funds and other institutional investors own 31.15% of the company’s stock.

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.