Mirae Asset Global Investments Co. Ltd. Acquires 3,138 Shares of Invesco Ltd. $IVZ

Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Invesco Ltd. (NYSE:IVZ) by 5.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 59,999 shares of the asset manager’s stock after acquiring an additional 3,138 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Invesco were worth $946,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Federated Hermes Inc. raised its position in Invesco by 186.6% during the first quarter. Federated Hermes Inc. now owns 1,969 shares of the asset manager’s stock valued at $30,000 after acquiring an additional 1,282 shares in the last quarter. SVB Wealth LLC bought a new position in shares of Invesco in the first quarter valued at approximately $32,000. UMB Bank n.a. raised its position in shares of Invesco by 45.8% in the second quarter. UMB Bank n.a. now owns 2,623 shares of the asset manager’s stock valued at $41,000 after purchasing an additional 824 shares during the period. Summit Securities Group LLC bought a new position in shares of Invesco in the first quarter valued at approximately $41,000. Finally, Resona Asset Management Co. Ltd. raised its position in shares of Invesco by 33.5% in the first quarter. Resona Asset Management Co. Ltd. now owns 3,943 shares of the asset manager’s stock valued at $60,000 after purchasing an additional 990 shares during the period. Institutional investors own 66.09% of the company’s stock.

Invesco Stock Performance

Shares of NYSE:IVZ opened at $23.90 on Friday. The stock has a market capitalization of $10.66 billion, a P/E ratio of 25.70, a P/E/G ratio of 1.19 and a beta of 1.66. Invesco Ltd. has a 1-year low of $11.60 and a 1-year high of $24.54. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.88. The business has a 50-day moving average price of $22.05 and a two-hundred day moving average price of $17.72.

Invesco (NYSE:IVZ) last announced its quarterly earnings data on Tuesday, July 22nd. The asset manager reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.05). The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.09 billion. Invesco had a return on equity of 8.60% and a net margin of 10.68%.The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.43 earnings per share. Equities analysts predict that Invesco Ltd. will post 1.87 earnings per share for the current year.

Invesco Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Thursday, August 14th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 3.5%. The ex-dividend date was Thursday, August 14th. Invesco’s payout ratio is presently 90.32%.

Insider Activity

In other news, Director Stephanie Butcher sold 103,192 shares of the business’s stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $22.12, for a total transaction of $2,282,607.04. Following the completion of the transaction, the director directly owned 29,855 shares in the company, valued at approximately $660,392.60. The trade was a 77.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.21% of the company’s stock.

Wall Street Analysts Forecast Growth

IVZ has been the topic of a number of recent analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Invesco in a research report on Wednesday. Royal Bank Of Canada reissued a “sector perform” rating and issued a $16.00 price target (up previously from $14.00) on shares of Invesco in a research report on Thursday, July 10th. The Goldman Sachs Group lifted their price target on shares of Invesco from $16.25 to $16.75 and gave the company a “neutral” rating in a research report on Friday, June 27th. Cowen reissued a “buy” rating on shares of Invesco in a research report on Thursday, September 18th. Finally, Wells Fargo & Company upgraded shares of Invesco from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $14.50 to $18.00 in a research note on Friday, July 11th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and thirteen have issued a Hold rating to the company’s stock. According to data from MarketBeat, Invesco has an average rating of “Hold” and an average price target of $21.72.

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.