Janney Montgomery Scott LLC Sells 1,519 Shares of Invesco Ltd. $IVZ

Janney Montgomery Scott LLC cut its stake in Invesco Ltd. (NYSE:IVZ) by 1.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 86,824 shares of the asset manager’s stock after selling 1,519 shares during the period. Janney Montgomery Scott LLC’s holdings in Invesco were worth $1,369,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. D.A. Davidson & CO. increased its stake in Invesco by 1.6% in the first quarter. D.A. Davidson & CO. now owns 47,462 shares of the asset manager’s stock valued at $720,000 after purchasing an additional 755 shares in the last quarter. EP Wealth Advisors LLC increased its stake in Invesco by 6.8% in the first quarter. EP Wealth Advisors LLC now owns 12,477 shares of the asset manager’s stock valued at $189,000 after purchasing an additional 792 shares in the last quarter. Brooklyn Investment Group increased its stake in Invesco by 17.1% in the first quarter. Brooklyn Investment Group now owns 5,465 shares of the asset manager’s stock valued at $83,000 after purchasing an additional 800 shares in the last quarter. UMB Bank n.a. increased its stake in 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 in the last quarter. Finally, CWM LLC increased its stake in Invesco by 0.5% in the first quarter. CWM LLC now owns 163,434 shares of the asset manager’s stock valued at $2,479,000 after purchasing an additional 862 shares in the last quarter. 66.09% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on IVZ. Barclays upped their target price on shares of Invesco from $17.00 to $22.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 23rd. Bank of America raised their price objective on shares of Invesco from $23.00 to $25.00 and gave the stock a “neutral” rating in a report on Thursday, October 2nd. Cowen restated a “buy” rating on shares of Invesco in a report on Thursday, September 18th. 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 report on Friday, July 11th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Invesco in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and thirteen have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $21.72.

Invesco Stock Performance

Shares of IVZ opened at $22.48 on Monday. Invesco Ltd. has a 12 month low of $11.60 and a 12 month high of $24.54. The firm has a fifty day simple moving average of $22.08 and a 200 day simple moving average of $17.79. The stock has a market capitalization of $10.03 billion, a price-to-earnings ratio of 24.17, a PEG ratio of 1.10 and a beta of 1.66. 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 (NYSE:IVZ) last announced its earnings results on Tuesday, July 22nd. The asset manager reported $0.36 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 business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same quarter in the previous year, the company posted $0.43 EPS. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. Research analysts forecast that Invesco Ltd. will post 1.87 EPS for the current fiscal year.

Invesco Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Thursday, August 14th were issued a dividend of $0.21 per share. The ex-dividend date was Thursday, August 14th. This represents a $0.84 annualized dividend and a yield of 3.7%. Invesco’s dividend payout ratio is presently 90.32%.

Insider Buying and Selling

In related news, Director Stephanie Butcher sold 103,192 shares of the stock in a transaction on Wednesday, September 10th. The shares were 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 owned 29,855 shares in the company, valued at approximately $660,392.60. This represents a 77.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.21% of the company’s stock.

Invesco 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.