Royal London Asset Management Ltd. lowered its position in shares of Invesco Ltd. (NYSE:IVZ) by 5.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 178,573 shares of the asset manager’s stock after selling 10,486 shares during the period. Royal London Asset Management Ltd.’s holdings in Invesco were worth $3,449,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc lifted its stake in shares of Invesco by 1.2% in the 3rd quarter. Vanguard Group Inc now owns 43,577,656 shares of the asset manager’s stock valued at $997,058,000 after acquiring an additional 524,580 shares during the last quarter. BlackRock Inc. raised its position in Invesco by 4.6% during the 4th quarter. BlackRock Inc. now owns 34,987,298 shares of the asset manager’s stock valued at $585,687,000 after purchasing an additional 1,552,429 shares during the last quarter. JPMorgan Chase & Co. raised its position in Invesco by 12.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 11,308,238 shares of the asset manager’s stock valued at $258,733,000 after purchasing an additional 1,263,803 shares during the last quarter. Kiltearn Partners LLP raised its position in Invesco by 2.7% during the 4th quarter. Kiltearn Partners LLP now owns 8,998,697 shares of the asset manager’s stock valued at $150,638,000 after purchasing an additional 240,400 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Invesco by 13.9% during the 4th quarter. Geode Capital Management LLC now owns 5,884,507 shares of the asset manager’s stock valued at $98,348,000 after purchasing an additional 717,941 shares during the last quarter. 76.27% of the stock is owned by hedge funds and other institutional investors.
A number of research firms have commented on IVZ. Zacks Investment Research lowered Invesco from a “buy” rating to a “hold” rating in a research report on Wednesday, May 22nd. 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 report on Monday, May 13th. William Blair reaffirmed a “market perform” rating on shares of Invesco in a research report on Thursday, April 25th. Wells Fargo & Co upped their price target on Invesco from $19.00 to $21.00 and gave the company a “market perform” rating in a research report on Tuesday, March 19th. Finally, Edward Jones lowered Invesco from a “buy” rating to a “hold” rating in a research report on Thursday, April 11th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company. Invesco presently has a consensus rating of “Hold” and a consensus price target of $22.00.
In related news, Director Rod Canion purchased 10,000 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The shares were bought at an average price of $19.84 per share, for a total transaction of $198,400.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.90% of the company’s stock.
Shares of Invesco stock traded up $0.31 during midday trading on Wednesday, hitting $20.42. The company had a trading volume of 6,491,852 shares, compared to its average volume of 3,845,258. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 0.86. The company has a market capitalization of $8.19 billion, a P/E ratio of 8.40, a PEG ratio of 1.02 and a beta of 1.57. Invesco Ltd. has a 52-week low of $15.38 and a 52-week high of $28.53.
Invesco (NYSE:IVZ) last posted its quarterly earnings results on Thursday, April 25th. The asset manager reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.03. The company had revenue of $887.10 million for the quarter, compared to the consensus estimate of $884.93 million. Invesco had a return on equity of 10.48% and a net margin of 15.59%. The firm’s quarterly revenue was down 7.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.67 EPS. As a group, equities analysts expect that Invesco Ltd. will post 2.33 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Investors 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 dividend yield of 6.07%. This is an increase from Invesco’s previous quarterly dividend of $0.30. Invesco’s dividend payout ratio is presently 51.03%.
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.
Read More: Momentum Indicators
Receive News & Ratings for Invesco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Invesco and related companies with MarketBeat.com's FREE daily email newsletter.