FinVolution Group (NYSE:FINV) Given Neutral Rating at UBS Group

FinVolution Group (NYSE:FINV)‘s stock had its “neutral” rating restated by equities researchers at UBS Group in a research note issued on Thursday, Marketbeat Ratings reports. They presently have a $11.80 price target on the stock, up from their prior price target of $7.80. UBS Group’s target price points to a potential upside of 17.69% from the stock’s current price.

Separately, Citigroup raised FinVolution Group from a “neutral” rating to a “buy” rating and raised their price target for the company from $6.00 to $11.00 in a research report on Tuesday.

FinVolution Group Stock Performance

Shares of NYSE:FINV opened at $10.03 on Thursday. The company has a market cap of $2.66 billion, a P/E ratio of 8.64 and a beta of 0.47. The stock’s 50-day moving average is $8.16 and its 200-day moving average is $6.92. FinVolution Group has a 52-week low of $4.63 and a 52-week high of $11.08.

FinVolution Group (NYSE:FINV) last issued its quarterly earnings results on Monday, March 17th. The company reported $0.38 earnings per share (EPS) 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 authorized a share repurchase program on Monday, March 17th that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 6.2% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Institutional Investors Weigh In On FinVolution Group

A number of institutional investors have recently added to or reduced their stakes in the company. Ascent Group LLC grew its position in FinVolution Group by 55.6% during the fourth quarter. Ascent Group LLC now owns 25,866 shares of the company’s stock worth $176,000 after buying an additional 9,239 shares in the last quarter. Mackenzie Financial Corp bought a new position in FinVolution Group during the fourth quarter worth about $3,342,000. Public Employees Retirement System of Ohio lifted its stake in FinVolution Group by 13.2% during the fourth quarter. Public Employees Retirement System of Ohio now owns 224,096 shares of the company’s stock worth $1,522,000 after purchasing an additional 26,104 shares during the period. Vise Technologies Inc. lifted 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 purchasing an additional 19,247 shares during the period. Finally, Two Sigma Advisers LP lifted its stake in FinVolution Group by 6.7% during the fourth quarter. Two Sigma Advisers LP now owns 410,300 shares of the company’s stock worth $2,786,000 after purchasing an additional 25,700 shares during the period. 31.15% of the stock is owned by institutional investors and hedge funds.

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.