Macquarie Group Ltd. grew its stake in shares of Invesco Ltd. (NYSE:IVZ – Free Report) by 5.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 163,664 shares of the asset manager’s stock after purchasing an additional 7,782 shares during the quarter. Macquarie Group Ltd.’s holdings in Invesco were worth $2,684,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. ProShare Advisors LLC lifted its stake in shares of Invesco by 25.2% during the first quarter. ProShare Advisors LLC now owns 111,883 shares of the asset manager’s stock worth $1,835,000 after purchasing an additional 22,525 shares in the last quarter. Toroso Investments LLC acquired a new position in shares of Invesco in the first quarter worth about $169,000. Ameriprise Financial Inc. lifted its stake in shares of Invesco by 265.7% in the first quarter. Ameriprise Financial Inc. now owns 2,233,875 shares of the asset manager’s stock worth $36,635,000 after acquiring an additional 1,622,963 shares in the last quarter. Advisory Services Network LLC lifted its stake in shares of Invesco by 22.8% in the first quarter. Advisory Services Network LLC now owns 4,323 shares of the asset manager’s stock worth $71,000 after acquiring an additional 804 shares in the last quarter. Finally, Chevy Chase Trust Holdings LLC lifted its stake in shares of Invesco by 1.0% in the first quarter. Chevy Chase Trust Holdings LLC now owns 264,295 shares of the asset manager’s stock worth $4,334,000 after acquiring an additional 2,713 shares in the last quarter. Institutional investors and hedge funds own 66.27% of the company’s stock.
Wall Street Analyst Weigh In
Several research analysts recently commented on the company. TheStreet cut Invesco from a “b-” rating to a “c+” rating in a research note on Tuesday, May 30th. Morgan Stanley reiterated an “equal weight” rating and issued a $17.00 price target on shares of Invesco in a research note on Tuesday, July 25th. BMO Capital Markets began coverage on Invesco in a report on Monday, July 10th. They issued a “market perform” rating and a $21.00 price objective for the company. Citigroup boosted their price objective on Invesco from $16.00 to $19.00 and gave the company a “neutral” rating in a report on Friday, July 14th. Finally, StockNews.com lowered Invesco from a “hold” rating to a “sell” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Invesco currently has a consensus rating of “Hold” and an average price target of $18.45.
Invesco Stock Down 2.2 %
NYSE:IVZ opened at $15.23 on Tuesday. The firm has a market capitalization of $6.83 billion, a PE ratio of 10.80, a price-to-earnings-growth ratio of 1.36 and a beta of 1.39. The stock has a 50 day moving average of $16.28 and a 200-day moving average of $16.21. Invesco Ltd. has a 52 week low of $13.20 and a 52 week high of $20.56. The company has a current ratio of 5.15, a quick ratio of 5.15 and a debt-to-equity ratio of 0.71.
Invesco (NYSE:IVZ – Get Free Report) last posted its earnings results on Tuesday, July 25th. The asset manager reported $0.31 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.09). The company had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.11 billion. Invesco had a net margin of 15.29% and a return on equity of 7.54%. The firm’s revenue for the quarter was down 7.1% compared to the same quarter last year. During the same period last year, the company posted $0.39 earnings per share. Analysts predict that Invesco Ltd. will post 1.53 EPS for the current year.
Invesco Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 5th. Stockholders of record on Friday, August 11th were given a dividend of $0.20 per share. The ex-dividend date was Thursday, August 10th. This represents a $0.80 annualized dividend and a dividend yield of 5.25%. Invesco’s dividend payout ratio is presently 56.74%.
Insider Transactions at Invesco
In other Invesco news, major shareholder Invesco Realty, Inc. acquired 2,800,000 shares of Invesco stock in a transaction dated Tuesday, September 5th. The stock was acquired at an average cost of $25.00 per share, for a total transaction of $70,000,000.00. Following the completion of the transaction, the insider now owns 853,400 shares in the company, valued at approximately $21,335,000. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.00% of the company’s stock.
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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