Invesco Ltd. Decreases Stake in Trinity Capital Inc. $TRIN

Key Points

• Invesco Ltd. reduced its stake in Trinity Capital Inc. by 13.6% during Q1, now holding 816,465 shares valued at approximately $12.4 million.
• Multiple institutional investors, including Chicago Partners Investment Group and PNC Financial Services Group, have recently adjusted their stakes in Trinity Capital, reflecting increased interest from the investment community.
• Trinity Capital declared a quarterly dividend of $0.51, which represents an annualized yield of 12.9%, with a payout ratio of 91.48%.

Invesco Ltd. trimmed its position in shares of Trinity Capital Inc. (NASDAQ:TRIN - Free Report) by 13.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 816,465 shares of the company's stock after selling 128,658 shares during the quarter. Invesco Ltd. owned 1.26% of Trinity Capital worth $12,378,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Trinity Capital by 9.0% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 12,173 shares of the company's stock valued at $176,000 after buying an additional 1,000 shares during the last quarter. PFG Investments LLC raised its holdings in shares of Trinity Capital by 9.9% in the 1st quarter. PFG Investments LLC now owns 13,204 shares of the company's stock worth $200,000 after acquiring an additional 1,188 shares during the last quarter. Farther Finance Advisors LLC bought a new position in Trinity Capital in the 1st quarter valued at about $38,000. Guggenheim Capital LLC boosted its stake in Trinity Capital by 9.2% during the 4th quarter. Guggenheim Capital LLC now owns 30,027 shares of the company's stock valued at $434,000 after purchasing an additional 2,541 shares during the last quarter. Finally, PNC Financial Services Group Inc. bought a new stake in Trinity Capital during the 1st quarter worth approximately $45,000. 24.62% of the stock is currently owned by institutional investors.

Trinity Capital Price Performance

Shares of Trinity Capital stock traded up $0.09 during trading hours on Thursday, hitting $16.12. 266,039 shares of the company's stock traded hands, compared to its average volume of 641,996. The stock has a market capitalization of $1.13 billion, a price-to-earnings ratio of 7.23 and a beta of 0.54. Trinity Capital Inc. has a 12-month low of $12.50 and a 12-month high of $16.82. The company has a fifty day simple moving average of $14.98 and a 200-day simple moving average of $15.01.

Trinity Capital (NASDAQ:TRIN - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.53 earnings per share for the quarter, topping analysts' consensus estimates of $0.52 by $0.01. The company had revenue of $69.48 million for the quarter, compared to the consensus estimate of $68.84 million. Trinity Capital had a net margin of 51.88% and a return on equity of 15.72%. On average, analysts forecast that Trinity Capital Inc. will post 2.06 EPS for the current fiscal year.

Trinity Capital Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 12.7%. The ex-dividend date of this dividend was Monday, June 30th. Trinity Capital's dividend payout ratio is currently 91.48%.

Insider Activity

In related news, CEO Kyle Steven Brown purchased 3,200 shares of the stock in a transaction that occurred on Friday, August 8th. The shares were bought at an average price of $15.78 per share, with a total value of $50,496.00. Following the acquisition, the chief executive officer owned 1,006,300 shares of the company's stock, valued at $15,879,414. This trade represents a 0.32% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders have purchased 5,900 shares of company stock worth $89,546. Company insiders own 5.31% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on TRIN. B. Riley increased their price objective on Trinity Capital from $16.00 to $17.00 and gave the stock a "buy" rating in a research note on Thursday, August 7th. UBS Group upped their price target on Trinity Capital from $17.00 to $17.50 and gave the stock a "buy" rating in a report on Wednesday, July 16th. Wells Fargo & Company restated an "underweight" rating and set a $13.50 price objective (up from $13.00) on shares of Trinity Capital in a research note on Tuesday, August 12th. Finally, Keefe, Bruyette & Woods cut their price objective on shares of Trinity Capital from $16.00 to $15.00 and set a "market perform" rating on the stock in a report on Thursday, May 8th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Trinity Capital currently has an average rating of "Hold" and an average price target of $15.75.

Trinity Capital Profile

Trinity Capital Inc is a business development company. It is a venture capital firm specializing in venture debt to growth stage companies looking for loans and/or equipment financing. Trinity Capital Inc was founded in 2019 is based in Phoenix, Arizona with additional offices in the United States.