FinVolution Group (NYSE:FINV) Stock Price Up 5.2% – Time to Buy?

FinVolution Group (NYSE:FINV) traded up 5.2% during mid-day trading on Thursday . The company traded as high as $10.29 and last traded at $10.33. 666,107 shares traded hands during mid-day trading, a decline of 8% from the average session volume of 722,862 shares. The stock had previously closed at $9.81.

Analyst Ratings Changes

Several research analysts have commented on FINV shares. 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 report on Tuesday, March 18th. UBS Group reaffirmed 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.

FinVolution Group Stock Performance

The stock’s 50-day moving average price is $8.45 and its 200-day moving average price is $7.08. The company has a market capitalization of $2.59 billion, a price-to-earnings ratio of 8.40 and a beta of 0.47.

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

FinVolution Group Increases Dividend

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

FinVolution Group declared that its board has authorized a stock buyback plan on Monday, March 17th that allows the company to buyback $150.00 million in shares. This buyback authorization allows the company to repurchase up to 6.2% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Institutional Trading of FinVolution Group

Several institutional investors and hedge funds have recently modified their holdings of FINV. Leading Securities Co Ltd purchased a new stake in FinVolution Group in the 4th quarter valued at approximately $14,091,000. Norges Bank purchased a new stake in FinVolution Group during the 4th quarter worth about $6,360,000. Prudential PLC acquired a new position in FinVolution Group in the 4th quarter valued at about $3,370,000. Mackenzie Financial Corp purchased a new position in FinVolution Group in the 4th quarter valued at about $3,342,000. Finally, Renaissance Group LLC acquired a new stake in shares of FinVolution Group during the 4th quarter worth about $2,732,000. Hedge funds and other institutional investors own 31.15% of the company’s stock.

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.