Valley National Advisers Inc. boosted its holdings in Invesco Ltd. (NYSE:IVZ) by 847.4% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 2,937 shares of the asset manager’s stock after buying an additional 2,627 shares during the period. Valley National Advisers Inc.’s holdings in Invesco were worth $57,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of IVZ. Norges Bank purchased a new stake in Invesco in the 4th quarter worth $64,251,000. Federated Investors Inc. PA increased its stake in Invesco by 114.1% in the 3rd quarter. Federated Investors Inc. PA now owns 5,085,662 shares of the asset manager’s stock worth $116,361,000 after buying an additional 2,709,900 shares in the last quarter. Amundi Pioneer Asset Management Inc. increased its stake in Invesco by 145.1% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 2,693,811 shares of the asset manager’s stock worth $45,095,000 after buying an additional 1,594,809 shares in the last quarter. BlackRock Inc. increased its stake in Invesco by 4.6% in the 4th quarter. BlackRock Inc. now owns 34,987,298 shares of the asset manager’s stock worth $585,687,000 after buying an additional 1,552,429 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Invesco by 42.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,047,946 shares of the asset manager’s stock worth $84,501,000 after buying an additional 1,507,660 shares in the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.
Shares of NYSE:IVZ traded down $0.13 during trading on Wednesday, reaching $20.75. The company’s stock had a trading volume of 3,402,580 shares, compared to its average volume of 4,374,533. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.86. Invesco Ltd. has a 12 month low of $15.38 and a 12 month high of $28.68. The company has a market cap of $8.36 billion, a price-to-earnings ratio of 8.54, a PEG ratio of 1.02 and a beta of 1.57.
Invesco (NYSE:IVZ) last announced its quarterly earnings results on Thursday, April 25th. The asset manager reported $0.56 EPS for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.03. Invesco had a net margin of 15.59% and a return on equity of 10.48%. The firm had revenue of $887.10 million during the quarter, compared to the consensus estimate of $884.93 million. During the same quarter last year, the firm earned $0.67 EPS. The firm’s revenue for the quarter was down 7.4% compared to the same quarter last year. As a group, equities analysts forecast that Invesco Ltd. will post 2.33 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Friday, May 10th will be paid a $0.31 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $1.24 annualized dividend and a yield of 5.98%. This is an increase from Invesco’s previous quarterly dividend of $0.30. Invesco’s dividend payout ratio (DPR) is presently 51.03%.
In other news, Director Rod Canion acquired 20,000 shares of the firm’s stock in a transaction on Thursday, February 21st. The stock was acquired at an average price of $18.89 per share, with a total value of $377,800.00. Following the completion of the purchase, the director now directly owns 84,451 shares in the company, valued at $1,595,279.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Ben F. Johnson III acquired 10,000 shares of the firm’s stock in a transaction on Thursday, May 2nd. The stock was purchased at an average cost of $21.37 per share, with a total value of $213,700.00. Following the purchase, the director now owns 54,618 shares of the company’s stock, valued at $1,167,186.66. The disclosure for this purchase can be found here. In the last three months, insiders acquired 40,000 shares of company stock valued at $789,900. 1.90% of the stock is owned by insiders.
A number of brokerages have issued reports on IVZ. William Blair reiterated a “market perform” rating on shares of Invesco in a research note on Thursday, April 25th. Deutsche Bank increased their price target on Invesco from $20.00 to $22.00 and gave the stock a “hold” rating in a research note on Friday, April 26th. UBS Group lowered Invesco from a “neutral” rating to a “sell” rating and set a $18.00 price target for the company. in a research note on Monday, May 13th. Edward Jones lowered Invesco from a “buy” rating to a “hold” rating in a research report on Thursday, April 11th. Finally, Zacks Investment Research lowered Invesco from a “buy” rating to a “hold” rating in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $22.00.
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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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