Arrowstreet Capital Limited Partnership Acquires 379,025 Shares of FinVolution Group (NYSE:FINV)

Arrowstreet Capital Limited Partnership grew its holdings in FinVolution Group (NYSE:FINV) by 20.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,217,497 shares of the company’s stock after buying an additional 379,025 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 0.84% of FinVolution Group worth $15,057,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in FINV. Norges Bank bought a new stake in shares of FinVolution Group in the 4th quarter valued at approximately $6,360,000. JPMorgan Chase & Co. bought a new stake in FinVolution Group in the fourth quarter worth $688,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in FinVolution Group by 21.2% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 23,722 shares of the company’s stock worth $164,000 after buying an additional 4,146 shares during the period. Leading Securities Co Ltd bought a new position in FinVolution Group during the fourth quarter valued at $14,091,000. Finally, Vanguard Group Inc. raised its stake in shares of FinVolution Group by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 5,250,278 shares of the company’s stock valued at $35,649,000 after acquiring an additional 41,759 shares during the period. 31.15% of the stock is currently owned by institutional investors.

FinVolution Group Trading Down 10.1 %

Shares of FINV opened at $8.75 on Friday. The firm has a fifty day moving average price of $8.69 and a 200-day moving average price of $7.23. The firm has a market capitalization of $2.32 billion, a P/E ratio of 7.54 and a beta of 0.32. FinVolution Group has a 12-month low of $4.63 and a 12-month high of $11.08.

FinVolution Group (NYSE:FINV) last released its quarterly earnings data on Monday, March 17th. The company reported $0.38 earnings per share (EPS) for the quarter. The company 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 announced that its Board of Directors has authorized 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 purchase up to 6.2% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

FinVolution Group Increases Dividend

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

Analyst Upgrades and Downgrades

FINV has been the subject of a number of recent analyst reports. Citigroup raised shares of FinVolution Group from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $6.00 to $11.00 in a research note on Tuesday, March 18th. UBS Group restated a “neutral” rating and set a $11.80 target price (up previously from $7.80) on shares of FinVolution Group in a research report on Thursday, March 20th.

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.