FinVolution Group (NYSE:FINV) Shares Acquired by O Shaughnessy Asset Management LLC

O Shaughnessy Asset Management LLC boosted its position in FinVolution Group (NYSE:FINV) by 11.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,037,878 shares of the company’s stock after purchasing an additional 108,495 shares during the period. O Shaughnessy Asset Management LLC’s holdings in FinVolution Group were worth $7,047,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of FinVolution Group during the 4th quarter worth $28,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of FinVolution Group in the 3rd quarter valued at about $58,000. Aigen Investment Management LP purchased a new position in shares of FinVolution Group in the 4th quarter valued at about $75,000. SYM FINANCIAL Corp lifted its stake in shares of FinVolution Group by 14.4% in the fourth quarter. SYM FINANCIAL Corp now owns 13,543 shares of the company’s stock valued at $92,000 after purchasing an additional 1,706 shares during the period. Finally, Quadrature Capital Ltd acquired a new position in FinVolution Group during the third quarter worth about $94,000. Institutional investors and hedge funds own 31.15% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the company. UBS Group reiterated a “neutral” rating and set a $11.80 target price (up from $7.80) on shares of FinVolution Group in a research report on Thursday, March 20th. Citigroup raised 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.

FinVolution Group Trading Up 4.8 %

FinVolution Group stock opened at $10.09 on Wednesday. The stock has a fifty day moving average price of $8.56 and a 200 day moving average price of $7.17. FinVolution Group has a 52 week low of $4.63 and a 52 week high of $11.08. The firm has a market capitalization of $2.68 billion, a P/E ratio of 8.70 and a beta of 0.47.

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

FinVolution Group Increases Dividend

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

FinVolution Group declared that its board has authorized 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 purchase up to 6.2% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.

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.