Cinctive Capital Management LP Sells 447,106 Shares of Invesco Ltd. (NYSE:IVZ)

Cinctive Capital Management LP trimmed its position in Invesco Ltd. (NYSE:IVZ) by 84.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 84,430 shares of the asset manager’s stock after selling 447,106 shares during the quarter. Cinctive Capital Management LP’s holdings in Invesco were worth $1,483,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Centennial Wealth Advisory LLC raised its stake in Invesco by 3.8% in the second quarter. Centennial Wealth Advisory LLC now owns 18,279 shares of the asset manager’s stock valued at $273,000 after buying an additional 669 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in Invesco by 1.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 66,881 shares of the asset manager’s stock valued at $1,001,000 after acquiring an additional 946 shares during the period. Fifth Third Bancorp lifted its holdings in Invesco by 6.1% during the 2nd quarter. Fifth Third Bancorp now owns 16,622 shares of the asset manager’s stock valued at $249,000 after purchasing an additional 963 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its position in Invesco by 11.9% during the first quarter. DekaBank Deutsche Girozentrale now owns 9,471 shares of the asset manager’s stock worth $155,000 after purchasing an additional 1,010 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of Invesco by 1.3% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 78,452 shares of the asset manager’s stock valued at $1,378,000 after purchasing an additional 1,020 shares during the last quarter. 66.09% of the stock is currently owned by institutional investors and hedge funds.

Invesco Stock Down 0.8 %

IVZ stock opened at $17.94 on Wednesday. Invesco Ltd. has a 52 week low of $14.16 and a 52 week high of $18.94. The business has a 50-day simple moving average of $17.79 and a 200 day simple moving average of $16.61. The company has a quick ratio of 4.91, a current ratio of 4.91 and a debt-to-equity ratio of 0.66. The company has a market cap of $8.06 billion, a PE ratio of -19.50, a price-to-earnings-growth ratio of 1.04 and a beta of 1.43.

Invesco (NYSE:IVZ) last issued its earnings results on Tuesday, October 22nd. The asset manager reported $0.44 EPS for the quarter, beating the consensus estimate of $0.43 by $0.01. The company had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.11 billion. Invesco had a negative net margin of 3.00% and a positive return on equity of 8.83%. The business’s revenue for the quarter was down 20.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.35 EPS. Sell-side analysts anticipate that Invesco Ltd. will post 1.69 EPS for the current fiscal year.

Invesco Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 3rd. Shareholders of record on Thursday, November 14th were issued a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.57%. The ex-dividend date was Thursday, November 14th. Invesco’s dividend payout ratio is presently -89.13%.

Wall Street Analyst Weigh In

IVZ has been the subject of a number of research reports. Barclays raised their target price on shares of Invesco from $18.00 to $19.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 23rd. Royal Bank of Canada boosted their price objective on Invesco from $18.00 to $19.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 23rd. Wells Fargo & Company increased their target price on Invesco from $16.50 to $17.50 and gave the stock an “underweight” rating in a research note on Wednesday, October 23rd. Morgan Stanley boosted their price target on Invesco from $16.00 to $17.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Finally, Evercore ISI increased their price objective on Invesco from $19.00 to $20.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Invesco has a consensus rating of “Hold” and a consensus price target of $18.63.

About Invesco

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.