Vise Technologies Inc. Buys 19,247 Shares of FinVolution Group (NYSE:FINV)

Vise Technologies Inc. boosted its position in FinVolution Group (NYSE:FINV) by 77.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 43,986 shares of the company’s stock after buying an additional 19,247 shares during the quarter. Vise Technologies Inc.’s holdings in FinVolution Group were worth $299,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of FinVolution Group during the 4th quarter worth $28,000. Aigen Investment Management LP bought a new stake in FinVolution Group in the 4th quarter valued at about $75,000. NewEdge Advisors LLC lifted its holdings in 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 purchasing an additional 10,000 shares during the last quarter. Ameriprise Financial Inc. bought a new position in FinVolution Group during the fourth quarter worth about $90,000. Finally, SYM FINANCIAL Corp increased 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 worth $92,000 after purchasing an additional 1,706 shares in the last quarter. 31.15% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on FINV shares. UBS Group upgraded shares of FinVolution Group from a “neutral” rating to a “buy” rating and upped their price target for the company from $11.80 to $12.10 in a research note on Friday, May 23rd. Citigroup upgraded FinVolution Group from a “neutral” rating to a “buy” rating and increased their target price for the stock from $6.00 to $11.00 in a research report on Tuesday, March 18th.

FinVolution Group Stock Up 0.5%

Shares of NYSE FINV opened at $8.65 on Wednesday. The company has a market cap of $2.19 billion, a P/E ratio of 7.46 and a beta of 0.30. FinVolution Group has a 52 week low of $4.63 and a 52 week high of $11.08. The business has a 50-day simple moving average of $8.47 and a two-hundred day simple moving average of $7.78.

FinVolution Group (NYSE:FINV) last released its quarterly earnings data on Tuesday, May 20th. The company reported $0.41 EPS for the quarter. The company had revenue of $479.70 million during the quarter. FinVolution Group had a net margin of 17.36% and a return on equity of 16.66%.

FinVolution Group Increases Dividend

The firm also recently disclosed an annual dividend, which was paid on Wednesday, May 7th. Investors of record on Wednesday, April 16th were paid a dividend of $0.277 per share. This is a positive change from FinVolution Group’s previous annual dividend of $0.24. The ex-dividend date was Wednesday, April 16th. This represents a yield of 2%. FinVolution Group’s dividend payout ratio (DPR) is currently 15.33%.

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

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.