Stock Yards Bank & Trust Co. Sells 1,210 Shares of Invesco Ltd. $IVZ

Stock Yards Bank & Trust Co. reduced its position in Invesco Ltd. (NYSE:IVZ) by 4.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,282 shares of the asset manager’s stock after selling 1,210 shares during the period. Stock Yards Bank & Trust Co.’s holdings in Invesco were worth $414,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. AQR Capital Management LLC lifted its holdings in shares of Invesco by 35.4% in the 1st quarter. AQR Capital Management LLC now owns 11,028,524 shares of the asset manager’s stock worth $165,262,000 after purchasing an additional 2,882,928 shares in the last quarter. Northern Trust Corp raised its position in Invesco by 11.3% in the 1st quarter. Northern Trust Corp now owns 7,083,410 shares of the asset manager’s stock valued at $107,455,000 after buying an additional 721,947 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Invesco by 99.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 7,026,920 shares of the asset manager’s stock valued at $106,598,000 after buying an additional 3,507,150 shares during the last quarter. Alliancebernstein L.P. raised its position in Invesco by 9.5% in the 1st quarter. Alliancebernstein L.P. now owns 6,985,352 shares of the asset manager’s stock valued at $105,968,000 after buying an additional 605,161 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Invesco by 0.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,452,945 shares of the asset manager’s stock valued at $67,551,000 after buying an additional 29,613 shares during the last quarter. 66.09% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Stephanie Butcher sold 103,192 shares of Invesco stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $22.12, for a total value of $2,282,607.04. Following the completion of the sale, the director owned 29,855 shares of the company’s stock, valued at approximately $660,392.60. This trade represents a 77.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on IVZ. Zacks Research raised Invesco to a “hold” rating in a research report on Tuesday, August 12th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $16.00 price target (up from $14.00) on shares of Invesco in a research report on Thursday, July 10th. Bank of America increased their price target on Invesco from $23.00 to $25.00 and gave the company a “neutral” rating in a research report on Thursday. Evercore ISI reissued a “positive” rating on shares of Invesco in a research report on Friday, September 5th. Finally, Citigroup increased their price target on Invesco from $22.00 to $25.00 and gave the company a “neutral” rating in a research report on Monday, September 29th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and thirteen have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $20.92.

Invesco Trading Up 1.9%

Shares of Invesco stock opened at $24.05 on Friday. Invesco Ltd. has a 1 year low of $11.60 and a 1 year high of $24.21. The firm has a market cap of $10.72 billion, a PE ratio of 25.86, a P/E/G ratio of 1.36 and a beta of 1.66. The stock has a fifty day moving average price of $21.84 and a 200-day moving average price of $17.50. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.30 and a quick ratio of 1.30.

Invesco (NYSE:IVZ) last announced its 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 net margin of 10.68% and a return on equity of 8.60%. The business had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.09 billion. During the same period in the prior year, the business earned $0.43 earnings per share. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. Equities research analysts anticipate that Invesco Ltd. will post 1.87 EPS for the current year.

Invesco Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Thursday, August 14th were issued a $0.21 dividend. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $0.84 annualized dividend and a yield of 3.5%. Invesco’s dividend payout ratio (DPR) is 90.32%.

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.