Leading Securities Co Ltd Invests $14.09 Million in FinVolution Group (NYSE:FINV)

Leading Securities Co Ltd purchased a new stake in FinVolution Group (NYSE:FINV) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 2,075,330 shares of the company’s stock, valued at approximately $14,091,000. FinVolution Group accounts for about 45.8% of Leading Securities Co Ltd’s holdings, making the stock its largest holding. Leading Securities Co Ltd owned approximately 0.78% of FinVolution Group at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. raised its position in 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 purchasing an additional 41,759 shares during the period. LPL Financial LLC raised its holdings in shares of FinVolution Group by 5.3% during the 4th quarter. LPL Financial LLC now owns 44,870 shares of the company’s stock valued at $305,000 after buying an additional 2,257 shares during the period. American Century Companies Inc. lifted its position in FinVolution Group by 6.1% during the 4th quarter. American Century Companies Inc. now owns 880,235 shares of the company’s stock worth $5,977,000 after acquiring an additional 50,427 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in FinVolution Group by 496.1% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 418,477 shares of the company’s stock worth $2,841,000 after acquiring an additional 348,276 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in FinVolution Group in the fourth quarter valued at approximately $118,000. 31.15% of the stock is owned by institutional investors and hedge funds.

FinVolution Group Stock Up 0.7 %

FINV stock opened at $9.78 on Thursday. The stock’s 50 day moving average is $8.33 and its two-hundred day moving average is $7.02. FinVolution Group has a 52-week low of $4.63 and a 52-week high of $11.08. The company has a market capitalization of $2.59 billion, a PE ratio of 8.43 and a beta of 0.47.

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

FinVolution Group declared that its Board of Directors has approved a stock repurchase program on Monday, March 17th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the company to buy up to 6.2% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.

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 paid a $0.277 dividend. This represents a dividend yield of 2%. The ex-dividend date of this dividend is Wednesday, April 16th. This is a positive change from FinVolution Group’s previous annual dividend of $0.24. FinVolution Group’s dividend payout ratio is 16.80%.

Wall Street Analysts Forecast Growth

FINV has been the topic of a number of recent research reports. UBS Group reissued 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 upgraded shares of FinVolution Group from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $6.00 to $11.00 in a report on Tuesday, March 18th.

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.