FinVolution Group (NYSE:FINV) Shares Bought by American Century Companies Inc.

American Century Companies Inc. increased its holdings in FinVolution Group (NYSE:FINV) by 6.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 880,235 shares of the company’s stock after buying an additional 50,427 shares during the period. American Century Companies Inc. owned about 0.33% of FinVolution Group worth $5,977,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. bought a new stake in FinVolution Group in the fourth quarter valued at $28,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of FinVolution Group in the 3rd quarter worth about $58,000. Aigen Investment Management LP acquired a new position in FinVolution Group during the 4th quarter valued at about $75,000. SYM FINANCIAL Corp grew 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 purchasing an additional 1,706 shares during the last quarter. Finally, Quadrature Capital Ltd acquired a new stake in shares of FinVolution Group in the third quarter valued at approximately $94,000. Institutional investors own 31.15% of the company’s stock.

FinVolution Group Stock Down 10.1 %

NYSE:FINV opened at $8.75 on Friday. The stock has a fifty day simple moving average of $8.69 and a 200 day simple moving average of $7.23. The firm has a market capitalization of $2.32 billion, a price-to-earnings ratio of 7.54 and a beta of 0.32. FinVolution Group has a 1-year low of $4.63 and a 1-year high of $11.08.

FinVolution Group (NYSE:FINV) last issued its quarterly earnings results on Monday, March 17th. The company reported $0.38 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 announced that its Board of Directors has initiated a share repurchase plan on Monday, March 17th that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the company to buy up to 6.2% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

FinVolution Group Increases Dividend

The firm also recently announced an annual dividend, which will be paid on Wednesday, May 7th. Shareholders of record on Wednesday, April 16th will be paid a dividend of $0.277 per share. This represents a yield of 2%. The ex-dividend date of this dividend is Wednesday, April 16th. This is a boost from FinVolution Group’s previous annual dividend of $0.24. FinVolution Group’s payout ratio is 16.80%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on FINV shares. UBS Group restated a “neutral” rating and set a $11.80 price objective (up from $7.80) on shares of FinVolution Group in a research note on Thursday, March 20th. Citigroup raised shares of FinVolution Group from a “neutral” rating to a “buy” rating and raised their target price for the company from $6.00 to $11.00 in a research note on Tuesday, March 18th.

About FinVolution Group

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.