Public Employees Retirement System of Ohio Buys 26,104 Shares of FinVolution Group (NYSE:FINV)

Public Employees Retirement System of Ohio increased its holdings in shares of FinVolution Group (NYSE:FINV) by 13.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 224,096 shares of the company’s stock after acquiring an additional 26,104 shares during the period. Public Employees Retirement System of Ohio owned about 0.08% of FinVolution Group worth $1,522,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in FINV. Vise Technologies Inc. grew its stake in FinVolution Group by 77.8% during the fourth quarter. Vise Technologies Inc. now owns 43,986 shares of the company’s stock worth $299,000 after buying an additional 19,247 shares during the last quarter. Two Sigma Advisers LP lifted its holdings in FinVolution Group by 6.7% in the fourth quarter. Two Sigma Advisers LP now owns 410,300 shares of the company’s stock valued at $2,786,000 after buying an additional 25,700 shares during the period. Two Sigma Investments LP increased its stake in FinVolution Group by 15.1% in the fourth quarter. Two Sigma Investments LP now owns 521,099 shares of the company’s stock valued at $3,538,000 after purchasing an additional 68,259 shares in the last quarter. Shell Asset Management Co. increased its stake in FinVolution Group by 26.4% in the fourth quarter. Shell Asset Management Co. now owns 36,775 shares of the company’s stock valued at $250,000 after purchasing an additional 7,687 shares in the last quarter. Finally, Man Group plc increased its stake in FinVolution Group by 3.4% in the fourth quarter. Man Group plc now owns 2,616,814 shares of the company’s stock valued at $17,768,000 after purchasing an additional 86,411 shares in the last quarter. 31.15% of the stock is currently owned by institutional investors and hedge funds.

FinVolution Group Stock Performance

NYSE FINV opened at $8.39 on Tuesday. FinVolution Group has a 52-week low of $4.63 and a 52-week high of $11.08. The stock has a market cap of $2.12 billion, a PE ratio of 7.23 and a beta of 0.30. The firm has a 50-day moving average of $8.37 and a 200-day moving average of $7.86.

FinVolution Group (NYSE:FINV) last released its quarterly earnings results on Tuesday, May 20th. The company reported $0.41 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 $479.70 million for the quarter.

FinVolution Group declared that its board has approved a stock repurchase plan on Monday, March 17th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 6.2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

FinVolution Group Increases Dividend

The firm also recently declared an annual dividend, which was paid on Wednesday, May 7th. Investors of record on Wednesday, April 16th were given 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 dividend payout ratio (DPR) is currently 15.33%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Citigroup raised shares of FinVolution Group from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $6.00 to $11.00 in a research report on Tuesday, March 18th. UBS Group upgraded shares of FinVolution Group from a “neutral” rating to a “buy” rating and raised their target price for the stock from $11.80 to $12.10 in a research note on Friday, May 23rd.

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.