Cinctive Capital Management LP Buys New Shares in Invesco Ltd. $IVZ

Key Points

• Cinctive Capital Management LP has purchased 307,455 shares of Invesco Ltd. in Q1, representing approximately $4.66 million and giving it a stake of about 0.07% in the company.
• Research analysts have generally rated Invesco with neutral to hold ratings, with Target prices ranging from $15.00 to $25.00, reflecting mixed expectations for the stock.
• Invesco recently announced a quarterly dividend of $0.21 per share, yielding approximately 3.9% annually, with a current dividend payout ratio of 90.32%.

Cinctive Capital Management LP purchased a new stake in Invesco Ltd. (NYSE:IVZ - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 307,455 shares of the asset manager's stock, valued at approximately $4,664,000. Cinctive Capital Management LP owned about 0.07% of Invesco at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. AQR Capital Management LLC lifted its stake in shares of Invesco by 35.4% during the first quarter. AQR Capital Management LLC now owns 11,028,524 shares of the asset manager's stock valued at $165,262,000 after buying an additional 2,882,928 shares during the period. Nuveen LLC bought a new stake in shares of Invesco in the 1st quarter valued at approximately $29,138,000. Deutsche Bank AG raised its holdings in shares of Invesco by 58.6% during the fourth quarter. Deutsche Bank AG now owns 3,334,598 shares of the asset manager's stock worth $58,289,000 after purchasing an additional 1,232,359 shares during the period. Jefferies Financial Group Inc. acquired a new stake in Invesco in the first quarter worth $14,433,000. Finally, Principal Financial Group Inc. boosted its position in Invesco by 177.3% during the 1st quarter. Principal Financial Group Inc. now owns 1,398,364 shares of the asset manager's stock worth $21,213,000 after acquiring an additional 894,105 shares during the period. 66.09% of the stock is currently owned by institutional investors and hedge funds.

Invesco Stock Up 1.8%

NYSE IVZ traded up $0.39 during mid-day trading on Tuesday, hitting $22.39. The company's stock had a trading volume of 3,245,809 shares, compared to its average volume of 5,496,754. The company's 50 day simple moving average is $20.15 and its 200 day simple moving average is $16.64. The firm has a market capitalization of $9.99 billion, a price-to-earnings ratio of 24.07, a PEG ratio of 1.24 and a beta of 1.58. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.88. Invesco Ltd. has a twelve month low of $11.60 and a twelve month high of $22.56.

Invesco (NYSE:IVZ - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The asset manager reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.05). Invesco had a return on equity of 8.60% and a net margin of 10.68%.The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same period last year, the firm earned $0.43 EPS. The company's revenue for the quarter was up 2.2% on a year-over-year basis. Analysts anticipate that Invesco Ltd. will post 1.87 earnings per share for the current year.

Invesco Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Thursday, August 14th were paid a $0.21 dividend. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $0.84 annualized dividend and a dividend yield of 3.8%. Invesco's dividend payout ratio is currently 90.32%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on IVZ shares. Wells Fargo & Company upgraded shares of Invesco from an "underweight" rating to an "equal weight" rating and lifted their price target for the stock from $14.50 to $18.00 in a research report on Friday, July 11th. The Goldman Sachs Group raised their target price on Invesco from $16.25 to $16.75 and gave the stock a "neutral" rating in a research report on Friday, June 27th. Evercore ISI restated a "positive" rating on shares of Invesco in a research report on Friday. TD Cowen raised shares of Invesco from a "hold" rating to a "buy" rating and raised their price target for the company from $17.50 to $25.00 in a report on Monday, July 21st. Finally, Morgan Stanley boosted their target price on Invesco from $15.00 to $16.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 2nd. Three research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $19.38.

Invesco Company Profile

Invesco Ltd. is a publicly owned investment manager. The firm provides its services to retail clients, institutional clients, high-net worth clients, public entities, corporations, unions, non-profit organizations, endowments, foundations, pension funds, financial institutions, and sovereign wealth funds.