Axa S.A. Raises Stock Position in FinVolution Group (NYSE:FINV)

Axa S.A. grew its holdings in FinVolution Group (NYSE:FINV) by 91.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 49,370 shares of the company’s stock after acquiring an additional 23,525 shares during the period. Axa S.A.’s holdings in FinVolution Group were worth $335,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Geode Capital Management LLC lifted its holdings in FinVolution Group by 4.4% in the 3rd quarter. Geode Capital Management LLC now owns 74,723 shares of the company’s stock worth $462,000 after purchasing an additional 3,164 shares in the last quarter. Kathmere Capital Management LLC boosted its position in shares of FinVolution Group by 23.1% during the fourth quarter. Kathmere Capital Management LLC now owns 74,981 shares of the company’s stock worth $509,000 after acquiring an additional 14,084 shares during the last quarter. Retireful LLC purchased a new position in FinVolution Group during the fourth quarter valued at $261,000. SG Americas Securities LLC increased its holdings in FinVolution Group by 90.6% in the 4th quarter. SG Americas Securities LLC now owns 28,199 shares of the company’s stock valued at $191,000 after acquiring an additional 13,403 shares during the last quarter. Finally, Blue Trust Inc. lifted its stake in FinVolution Group by 142.1% in the 4th quarter. Blue Trust Inc. now owns 38,138 shares of the company’s stock worth $236,000 after purchasing an additional 22,384 shares in the last quarter. Institutional investors own 31.15% of the company’s stock.

FinVolution Group Price Performance

FinVolution Group stock opened at $8.31 on Friday. The company’s 50-day moving average price is $8.55 and its 200-day moving average price is $7.57. The company has a market cap of $2.10 billion, a PE ratio of 7.16 and a beta of 0.30. FinVolution Group has a twelve month low of $4.63 and a twelve month high of $11.08.

FinVolution Group (NYSE:FINV) last issued its quarterly earnings data 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 return on equity of 16.66% and a net margin of 17.36%.

FinVolution Group announced that its board has initiated a stock buyback 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 generally a sign that the company’s management believes its shares are undervalued.

FinVolution Group Increases Dividend

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

Wall Street Analyst Weigh In

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

FinVolution Group 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.