Allspring Global Investments Holdings LLC Trims Position in FinVolution Group (NYSE:FINV)

Allspring Global Investments Holdings LLC decreased its holdings in FinVolution Group (NYSE:FINV) by 36.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,252,110 shares of the company’s stock after selling 2,992,862 shares during the quarter. Allspring Global Investments Holdings LLC owned about 1.98% of FinVolution Group worth $32,458,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Ballentine Partners LLC lifted its position in shares of FinVolution Group by 62.7% in the 1st quarter. Ballentine Partners LLC now owns 18,481 shares of the company’s stock worth $93,000 after purchasing an additional 7,123 shares during the period. Kathmere Capital Management LLC boosted its position in FinVolution Group by 28.9% during the 1st quarter. Kathmere Capital Management LLC now owns 35,465 shares of the company’s stock valued at $179,000 after acquiring an additional 7,946 shares in the last quarter. Vicus Capital bought a new stake in FinVolution Group during the 1st quarter valued at approximately $63,000. Russell Investments Group Ltd. grew its holdings in shares of FinVolution Group by 155.9% during the 1st quarter. Russell Investments Group Ltd. now owns 503,756 shares of the company’s stock worth $2,539,000 after acquiring an additional 306,903 shares during the period. Finally, D Orazio & Associates Inc. raised its position in shares of FinVolution Group by 23.7% in the 1st quarter. D Orazio & Associates Inc. now owns 22,318 shares of the company’s stock worth $112,000 after acquiring an additional 4,276 shares in the last quarter. Institutional investors own 31.15% of the company’s stock.

FinVolution Group Stock Down 3.8 %

NYSE FINV opened at $6.04 on Thursday. The firm has a market capitalization of $1.60 billion, a PE ratio of 5.49 and a beta of 0.45. The stock’s 50 day moving average is $5.73 and its 200 day moving average is $5.23. FinVolution Group has a twelve month low of $4.22 and a twelve month high of $7.24.

FinVolution Group (NYSE:FINV) last announced its earnings results on Tuesday, August 20th. The company reported $0.30 EPS for the quarter. The firm had revenue of $435.93 million for the quarter. FinVolution Group had a net margin of 17.00% and a return on equity of 16.57%.

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.