Allianz Asset Management GmbH Purchases 66,257 Shares of Invesco Ltd. $IVZ

Allianz Asset Management GmbH boosted its position in Invesco Ltd. (NYSE:IVZ) by 6.2% during the second quarter, HoldingsChannel.com reports. The fund owned 1,139,571 shares of the asset manager’s stock after buying an additional 66,257 shares during the quarter. Allianz Asset Management GmbH’s holdings in Invesco were worth $17,971,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. TD Asset Management Inc increased its stake in Invesco by 2.1% in the second quarter. TD Asset Management Inc now owns 80,981 shares of the asset manager’s stock valued at $1,277,000 after acquiring an additional 1,664 shares during the last quarter. Envestnet Portfolio Solutions Inc. bought a new position in Invesco in the second quarter valued at approximately $197,000. Sequoia Financial Advisors LLC bought a new position in Invesco in the second quarter valued at approximately $158,000. Vanguard Personalized Indexing Management LLC increased its holdings in shares of Invesco by 21.0% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 70,453 shares of the asset manager’s stock worth $1,111,000 after buying an additional 12,242 shares in the last quarter. Finally, Aberdeen Group plc lifted its stake in shares of Invesco by 12.7% in the 2nd quarter. Aberdeen Group plc now owns 76,896 shares of the asset manager’s stock valued at $1,213,000 after acquiring an additional 8,639 shares during the last quarter. 66.09% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

IVZ has been the topic of a number of research reports. Weiss Ratings restated a “hold (c)” rating on shares of Invesco in a research report on Wednesday, October 8th. TD Cowen upgraded Invesco from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $17.50 to $25.00 in a research report on Monday, July 21st. Wells Fargo & Company upgraded Invesco from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $14.50 to $18.00 in a research report on Friday, July 11th. Bank of America boosted their price objective on Invesco from $23.00 to $25.00 and gave the stock a “neutral” rating in a research report on Thursday, October 2nd. Finally, Evercore ISI boosted their price objective on Invesco from $24.00 to $26.00 and gave the stock an “in-line” rating in a research report on Thursday, October 9th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and thirteen have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Invesco currently has an average rating of “Hold” and an average price target of $21.72.

Invesco Price Performance

IVZ stock opened at $22.80 on Monday. The firm has a market cap of $10.17 billion, a price-to-earnings ratio of 24.52, a PEG ratio of 0.81 and a beta of 1.66. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.88. Invesco Ltd. has a 12-month low of $11.60 and a 12-month high of $24.54. The company’s fifty day simple moving average is $22.31 and its 200 day simple moving average is $18.08.

Invesco (NYSE:IVZ) last released 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). The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.09 billion. Invesco had a net margin of 10.68% and a return on equity of 8.60%. Invesco’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.43 EPS. On average, analysts expect that Invesco Ltd. will post 1.87 earnings per share for the current year.

Invesco Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend was Thursday, August 14th. Invesco’s dividend payout ratio is 90.32%.

Insider Activity

In other news, Director Stephanie Butcher sold 103,192 shares of the stock in a transaction dated 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 transaction, the director owned 29,855 shares of the company’s stock, valued at $660,392.60. This represents a 77.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.21% of the stock is owned by company insiders.

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.