Bank of America Corp DE raised its stake in shares of Invesco Ltd. (NYSE:IVZ) by 23.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,003,509 shares of the asset manager’s stock after acquiring an additional 384,368 shares during the period. Bank of America Corp DE owned approximately 0.49% of Invesco worth $53,213,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Sun Life Financial INC raised its stake in Invesco by 3,034.1% during the 2nd quarter. Sun Life Financial INC now owns 4,137 shares of the asset manager’s stock valued at $110,000 after acquiring an additional 4,005 shares during the last quarter. First Interstate Bank raised its stake in shares of Invesco by 89.2% during the 2nd quarter. First Interstate Bank now owns 4,500 shares of the asset manager’s stock worth $120,000 after buying an additional 2,122 shares in the last quarter. Bessemer Group Inc. raised its stake in shares of Invesco by 51.4% during the 2nd quarter. Bessemer Group Inc. now owns 6,706 shares of the asset manager’s stock worth $178,000 after buying an additional 2,277 shares in the last quarter. Private Capital Group LLC raised its stake in shares of Invesco by 134.0% during the 2nd quarter. Private Capital Group LLC now owns 7,080 shares of the asset manager’s stock worth $188,000 after buying an additional 4,055 shares in the last quarter. Finally, Zions Bancorporation purchased a new position in shares of Invesco during the 2nd quarter worth approximately $217,000. 78.77% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have recently issued reports on the company. ValuEngine downgraded Invesco from a “sell” rating to a “strong sell” rating in a research note on Saturday, June 2nd. TheStreet downgraded Invesco from a “b-” rating to a “c+” rating in a research note on Tuesday, May 29th. Zacks Investment Research raised Invesco from a “sell” rating to a “hold” rating in a research note on Thursday, June 28th. Credit Suisse Group cut their target price on Invesco from $39.00 to $37.00 and set an “outperform” rating for the company in a research note on Friday, July 27th. Finally, JPMorgan Chase & Co. cut their target price on Invesco from $34.00 to $29.00 and set an “overweight” rating for the company in a research note on Friday, July 27th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company. Invesco has an average rating of “Hold” and an average target price of $35.79.
NYSE IVZ opened at $24.31 on Friday. Invesco Ltd. has a 1-year low of $23.25 and a 1-year high of $38.43. The company has a market capitalization of $10.03 billion, a P/E ratio of 9.00, a PEG ratio of 1.00 and a beta of 1.65. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.87.
Invesco (NYSE:IVZ) last released its quarterly earnings data on Thursday, July 26th. The asset manager reported $0.66 earnings per share for the quarter, meeting the consensus estimate of $0.66. Invesco had a return on equity of 12.70% and a net margin of 21.64%. The firm had revenue of $974.00 million during the quarter, compared to the consensus estimate of $960.91 million. During the same period last year, the business posted $0.64 EPS. Invesco’s quarterly revenue was up 7.5% on a year-over-year basis. equities research analysts expect that Invesco Ltd. will post 2.71 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 4th. Investors of record on Thursday, August 16th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 4.94%. The ex-dividend date of this dividend was Wednesday, August 15th. Invesco’s payout ratio is currently 44.44%.
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.
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