Lazard Asset Management LLC Purchases 7,109 Shares of FinVolution Group (NYSE:FINV)

Lazard Asset Management LLC grew its position in shares of FinVolution Group (NYSE:FINV) by 4.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 173,788 shares of the company’s stock after buying an additional 7,109 shares during the quarter. Lazard Asset Management LLC owned 0.07% of FinVolution Group worth $1,180,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in FINV. Mirae Asset Global Investments Co. Ltd. purchased a new stake in FinVolution Group during the 4th quarter valued at $28,000. Aigen Investment Management LP purchased a new stake in shares of FinVolution Group during the fourth quarter valued at $75,000. NewEdge Advisors LLC boosted its position in shares of FinVolution Group by 381.1% during the fourth quarter. NewEdge Advisors LLC now owns 12,624 shares of the company’s stock valued at $86,000 after buying an additional 10,000 shares during the last quarter. Ameriprise Financial Inc. bought a new stake in FinVolution Group in the 4th quarter worth about $90,000. Finally, SYM FINANCIAL Corp raised its position in FinVolution Group by 14.4% in the 4th quarter. SYM FINANCIAL Corp now owns 13,543 shares of the company’s stock worth $92,000 after buying an additional 1,706 shares during the last quarter. Institutional investors own 31.15% of the company’s stock.

Wall Street Analysts Forecast Growth

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

FinVolution Group Price Performance

FINV stock opened at $8.79 on Tuesday. FinVolution Group has a 1 year low of $4.63 and a 1 year high of $11.08. The company has a market cap of $2.23 billion, a P/E ratio of 7.58 and a beta of 0.30. The stock’s fifty day moving average price is $8.59 and its 200-day moving average price is $7.69.

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

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

FinVolution Group Increases Dividend

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

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.