Invesco Ltd. (NYSE:IVZ) Director Sells $8,202,000.00 in Stock

Invesco Ltd. (NYSE:IVZ) Director Andrew Tak Shing Lo sold 300,000 shares of the business’s stock in a transaction on Tuesday, May 11th. The stock was sold at an average price of $27.34, for a total transaction of $8,202,000.00. Following the sale, the director now owns 375,605 shares in the company, valued at $10,269,040.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Shares of Invesco stock traded down $0.89 on Wednesday, hitting $26.37. 4,016,956 shares of the company’s stock traded hands, compared to its average volume of 4,528,653. The stock has a market cap of $12.17 billion, a P/E ratio of 24.88, a PEG ratio of 1.43 and a beta of 1.38. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 0.84. The firm’s 50-day moving average is $26.25 and its 200 day moving average is $21.01. Invesco Ltd. has a 52-week low of $6.38 and a 52-week high of $28.95.

Invesco (NYSE:IVZ) last posted its quarterly earnings results on Tuesday, April 27th. The asset manager reported $0.68 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.06. The business had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.21 billion. Invesco had a return on equity of 9.62% and a net margin of 9.78%. The business’s revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.34 EPS. Equities research analysts forecast that Invesco Ltd. will post 1.78 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 3rd. Investors of record on Tuesday, May 11th will be given a dividend of $0.17 per share. This is a positive change from Invesco’s previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a dividend yield of 2.58%. The ex-dividend date of this dividend is Monday, May 10th. Invesco’s dividend payout ratio is currently 26.67%.

Hedge funds have recently bought and sold shares of the stock. BlackRock Inc. lifted its stake in Invesco by 11.3% in the first quarter. BlackRock Inc. now owns 39,546,750 shares of the asset manager’s stock valued at $997,368,000 after buying an additional 4,005,319 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Invesco by 0.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 10,156,065 shares of the asset manager’s stock valued at $177,019,000 after purchasing an additional 70,419 shares during the period. Morgan Stanley boosted its position in shares of Invesco by 278.9% during the fourth quarter. Morgan Stanley now owns 6,456,193 shares of the asset manager’s stock worth $112,531,000 after buying an additional 4,752,127 shares during the period. Norges Bank bought a new position in Invesco in the 4th quarter worth approximately $67,920,000. Finally, Charles Schwab Investment Management Inc. increased its position in Invesco by 1.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,824,741 shares of the asset manager’s stock valued at $49,236,000 after acquiring an additional 29,677 shares during the period. 70.41% of the stock is currently owned by institutional investors and hedge funds.

Several brokerages have commented on IVZ. BMO Capital Markets boosted their target price on shares of Invesco from $19.00 to $22.00 and gave the stock a “market perform” rating in a research report on Wednesday, January 27th. Credit Suisse Group boosted their target price on shares of Invesco from $30.00 to $37.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 4th. UBS Group upgraded shares of Invesco from a “neutral” rating to a “buy” rating and set a $24.00 target price on the stock in a research report on Thursday, January 28th. Zacks Investment Research lowered shares of Invesco from a “strong-buy” rating to a “hold” rating and set a $28.00 target price on the stock. in a research report on Tuesday, April 20th. Finally, TheStreet upgraded shares of Invesco from a “c+” rating to a “b-” rating in a research report on Tuesday, March 9th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $21.86.

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.

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