O Shaughnessy Asset Management LLC Increases Position in FinVolution Group (NYSE:FINV)

O Shaughnessy Asset Management LLC boosted its holdings in shares of FinVolution Group (NYSE:FINV) by 11.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,037,878 shares of the company’s stock after purchasing an additional 108,495 shares during the quarter. O Shaughnessy Asset Management LLC owned approximately 0.39% of FinVolution Group worth $7,047,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of FINV. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of FinVolution Group by 51.9% during the third 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 purchasing an additional 169,344 shares in the last quarter. Jane Street Group LLC grew its holdings in shares of FinVolution Group by 229.4% during the third quarter. Jane Street Group LLC now owns 185,420 shares of the company’s stock worth $1,146,000 after buying an additional 129,138 shares in the last quarter. Geode Capital Management LLC raised its position 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 valued at $462,000 after buying an additional 3,164 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of FinVolution Group in the fourth quarter worth about $28,000. Finally, Public Employees Retirement System of Ohio acquired a new position in FinVolution Group during the third quarter worth about $1,224,000. Hedge funds and other institutional investors own 31.15% of the company’s stock.

Analyst Ratings Changes

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

FinVolution Group Stock Performance

Shares of FINV stock opened at $10.09 on Wednesday. The stock has a market capitalization of $2.68 billion, a P/E ratio of 8.70 and a beta of 0.47. FinVolution Group has a fifty-two week low of $4.63 and a fifty-two week high of $11.08. The company has a 50 day moving average price of $8.56 and a 200 day moving average price of $7.17.

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

FinVolution Group Increases Dividend

The business also recently announced an annual dividend, which will be paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 16th will be issued a $0.277 dividend. This is a boost from FinVolution Group’s previous annual dividend of $0.24. The ex-dividend date of this dividend is Wednesday, April 16th. This represents a dividend yield of 2%. FinVolution Group’s dividend payout ratio is presently 16.80%.

FinVolution Group announced that its Board of Directors has initiated a share repurchase plan on Monday, March 17th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the company to repurchase up to 6.2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

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.