WBI Investments LLC Takes Position in Invesco Ltd. $IVZ

WBI Investments LLC acquired a new position in shares of Invesco Ltd. (NYSE:IVZ) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 109,292 shares of the asset manager’s stock, valued at approximately $1,724,000.

Several other hedge funds have also recently added to or reduced their stakes in IVZ. Federated Hermes Inc. grew its holdings in Invesco by 186.6% during the 1st quarter. Federated Hermes Inc. now owns 1,969 shares of the asset manager’s stock worth $30,000 after acquiring an additional 1,282 shares in the last quarter. IFP Advisors Inc grew its stake in shares of Invesco by 55.7% during the second quarter. IFP Advisors Inc now owns 2,127 shares of the asset manager’s stock worth $34,000 after purchasing an additional 761 shares in the last quarter. SVB Wealth LLC acquired a new position in shares of Invesco during the first quarter worth $32,000. UMB Bank n.a. increased its holdings 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 buying an additional 824 shares during the last quarter. Finally, Summit Securities Group LLC acquired a new stake in Invesco in the first quarter valued at $41,000. Institutional investors and hedge funds own 66.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on IVZ shares. TD Cowen upgraded Invesco from a “hold” rating to a “buy” rating and increased their price objective for the company from $17.50 to $25.00 in a report on Monday, July 21st. Zacks Research upgraded shares of Invesco from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 6th. Morgan Stanley restated a “positive” rating on shares of Invesco in a research report on Monday, October 6th. Fundamental Research set a $27.00 target price on shares of Invesco in a report on Friday, October 31st. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of Invesco in a research note on Friday, October 24th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat, Invesco has a consensus rating of “Hold” and an average target price of $23.70.

Insider Activity at Invesco

In other news, Director Douglas J. Sharp sold 160,000 shares of the company’s stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $23.56, for a total transaction of $3,769,600.00. Following the completion of the sale, the director owned 192 shares in the company, valued at $4,523.52. This represents a 99.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Stephanie Butcher sold 103,192 shares of Invesco 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 trade represents a 77.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.21% of the stock is owned by corporate insiders.

Invesco Trading Down 4.5%

Shares of Invesco stock opened at $22.45 on Tuesday. The company’s fifty day moving average is $23.13 and its two-hundred day moving average is $19.63. Invesco Ltd. has a 1 year low of $11.60 and a 1 year high of $24.75. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.30 and a current ratio of 1.30. The company has a market capitalization of $9.99 billion, a P/E ratio of 15.27, a PEG ratio of 0.85 and a beta of 1.72.

Invesco (NYSE:IVZ) last announced its earnings results on Tuesday, October 28th. The asset manager reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.17. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.17 billion. Invesco had a net margin of 14.15% and a return on equity of 8.52%. The business’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.44 earnings per share. Analysts forecast that Invesco Ltd. will post 1.87 earnings per share for the current year.

Invesco Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 2nd. Stockholders of record on Friday, November 14th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Friday, November 14th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.7%. Invesco’s payout ratio is presently 57.14%.

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.