Comerica Bank lessened its holdings in Invesco Ltd. (NYSE:IVZ) by 6.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 71,105 shares of the asset manager’s stock after selling 4,773 shares during the period. Comerica Bank’s holdings in Invesco were worth $1,885,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Marshall Wace LLP purchased a new position in Invesco during the first quarter valued at $396,000. IFM Investors Pty Ltd increased its position in shares of Invesco by 36.8% during the fourth quarter. IFM Investors Pty Ltd now owns 38,645 shares of the asset manager’s stock worth $674,000 after purchasing an additional 10,391 shares in the last quarter. Tuttle Tactical Management acquired a new position in Invesco in the 4th quarter valued at $242,000. Kestra Advisory Services LLC lifted its holdings in Invesco by 11.1% in the 4th quarter. Kestra Advisory Services LLC now owns 89,379 shares of the asset manager’s stock valued at $1,550,000 after purchasing an additional 8,963 shares in the last quarter. Finally, Pacer Advisors Inc. acquired a new stake in Invesco during the 4th quarter worth $402,000. 70.41% of the stock is owned by institutional investors.
IVZ opened at $26.80 on Thursday. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 0.84. Invesco Ltd. has a 52 week low of $7.11 and a 52 week high of $28.95. The business’s 50 day moving average is $26.75 and its two-hundred day moving average is $21.57. The firm has a market cap of $12.37 billion, a price-to-earnings ratio of 25.05, a price-to-earnings-growth ratio of 1.43 and a beta of 1.38.
Invesco (NYSE:IVZ) last posted its quarterly earnings data on Tuesday, April 27th. The asset manager reported $0.68 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.06. Invesco had a return on equity of 9.62% and a net margin of 9.78%. The firm had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.21 billion. During the same period in the prior year, the business earned $0.34 EPS. The firm’s revenue was up 3.8% compared to the same quarter last year. Equities analysts expect that Invesco Ltd. will post 1.78 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 3rd. Shareholders of record on Tuesday, May 11th will be paid a $0.17 dividend. This is a boost from Invesco’s previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a yield of 2.54%. The ex-dividend date is Monday, May 10th. Invesco’s payout ratio is currently 26.67%.
In other news, Director Gregory Mcgreevey sold 200,000 shares of the business’s stock in a transaction dated Friday, March 12th. The shares were sold at an average price of $25.46, for a total transaction of $5,092,000.00. Following the transaction, the director now directly owns 381,941 shares in the company, valued at $9,724,217.86. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Colin Meadows sold 170,488 shares of the stock in a transaction dated Friday, May 7th. The stock was sold at an average price of $28.28, for a total transaction of $4,821,400.64. Following the transaction, the director now directly owns 183,147 shares of the company’s stock, valued at $5,179,397.16. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 870,488 shares of company stock valued at $23,207,401. 1.89% of the stock is owned by insiders.
A number of research analysts have weighed in on the stock. Credit Suisse Group raised their target price on shares of Invesco from $30.00 to $37.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 4th. Morgan Stanley lifted their price target on shares of Invesco from $27.00 to $29.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 20th. UBS Group upgraded Invesco from a “neutral” rating to a “buy” rating and set a $24.00 price objective for the company in a research report on Thursday, January 28th. Deutsche Bank Aktiengesellschaft raised their price objective on Invesco from $28.00 to $31.00 and gave the stock a “buy” rating in a research report on Friday, April 9th. Finally, TheStreet upgraded shares of Invesco from a “c+” rating to a “b-” rating in a report on Tuesday, March 9th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target 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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