FinVolution Group (NYSE:FINV) Reaches New 1-Year High After Dividend Announcement

FinVolution Group (NYSE:FINV)’s stock price reached a new 52-week high during mid-day trading on Monday following a dividend announcement from the company. The company traded as high as $8.97 and last traded at $8.85, with a volume of 16966 shares traded. The stock had previously closed at $8.71.

The newly announced 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. The ex-dividend date is Wednesday, April 16th. This represents a yield of 2%. FinVolution Group’s dividend payout ratio is 18.10%.

Analyst Upgrades and Downgrades

Separately, Citigroup upgraded FinVolution Group from a “neutral” rating to a “buy” rating and increased their price objective for the company from $6.00 to $11.00 in a report on Tuesday.

FinVolution Group Trading Up 17.6 %

The firm has a market cap of $2.84 billion, a PE ratio of 9.24 and a beta of 0.47. The business has a fifty day moving average price of $7.95 and a 200 day moving average price of $6.84.

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

FinVolution Group declared that its board has approved a share repurchase plan on Monday, March 17th that allows the company to repurchase $150.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 6.2% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

Institutional Trading of FinVolution Group

A number of large investors have recently made changes to their positions in FINV. GSA Capital Partners LLP acquired a new stake in shares of FinVolution Group in the 3rd quarter valued at about $261,000. Caprock Group LLC boosted its position in shares of FinVolution Group by 27.1% in the 3rd quarter. Caprock Group LLC now owns 127,590 shares of the company’s stock valued at $789,000 after purchasing an additional 27,183 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of FinVolution Group in the 3rd quarter valued at about $434,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position 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 valued at $3,064,000 after purchasing an additional 169,344 shares during the period. Finally, Walleye Capital LLC boosted its position in shares of FinVolution Group by 134.4% in the 3rd quarter. Walleye Capital LLC now owns 476,294 shares of the company’s stock valued at $2,943,000 after purchasing an additional 273,055 shares during the period. 31.15% of the stock is owned by institutional investors and hedge funds.

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.