Dorsey & Whitney Trust CO LLC purchased a new position in Invesco Ltd. (NYSE:IVZ) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 13,833 shares of the asset manager’s stock, valued at approximately $148,000.
Other hedge funds have also recently made changes to their positions in the company. Letko Brosseau & Associates Inc. lifted its position in Invesco by 269.6% in the 2nd quarter. Letko Brosseau & Associates Inc. now owns 4,716,259 shares of the asset manager’s stock valued at $50,747,000 after acquiring an additional 3,440,125 shares in the last quarter. Contrarius Investment Management Ltd bought a new position in shares of Invesco during the first quarter valued at $27,675,000. Bank of New York Mellon Corp boosted its position in shares of Invesco by 34.8% during the first quarter. Bank of New York Mellon Corp now owns 11,814,228 shares of the asset manager’s stock valued at $107,274,000 after buying an additional 3,047,716 shares during the last quarter. Prudential PLC increased its holdings in Invesco by 34.2% in the 2nd quarter. Prudential PLC now owns 6,488,974 shares of the asset manager’s stock worth $69,821,000 after buying an additional 1,654,273 shares in the last quarter. Finally, Parametric Portfolio Associates LLC raised its position in Invesco by 42.3% in the 1st quarter. Parametric Portfolio Associates LLC now owns 3,789,361 shares of the asset manager’s stock worth $34,407,000 after buying an additional 1,126,953 shares during the last quarter. 62.86% of the stock is currently owned by institutional investors.
In other Invesco news, Director Sarah Beshar purchased 9,500 shares of the firm’s stock in a transaction on Wednesday, September 2nd. The shares were acquired at an average cost of $10.54 per share, with a total value of $100,130.00. Following the completion of the acquisition, the director now directly owns 47,021 shares in the company, valued at $495,601.34. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Martin L. Flanagan acquired 290,300 shares of the stock in a transaction dated Tuesday, September 1st. The stock was acquired at an average price of $10.19 per share, for a total transaction of $2,958,157.00. Following the completion of the transaction, the chief executive officer now directly owns 510,261 shares of the company’s stock, valued at $5,199,559.59. The disclosure for this purchase can be found here. 1.89% of the stock is currently owned by insiders.
IVZ stock opened at $11.39 on Friday. Invesco Ltd. has a twelve month low of $6.38 and a twelve month high of $19.01. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 0.87. The stock has a market cap of $5.12 billion, a P/E ratio of 11.17, a PEG ratio of 1.20 and a beta of 1.40. The business’s 50-day moving average price is $10.49 and its 200-day moving average price is $10.33.
Invesco (NYSE:IVZ) last released its earnings results on Tuesday, July 28th. The asset manager reported $0.35 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by ($0.08). Invesco had a return on equity of 9.93% and a net margin of 8.15%. The firm had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same period in the prior year, the company posted $0.65 earnings per share. The company’s revenue was up .2% compared to the same quarter last year. On average, equities research analysts expect that Invesco Ltd. will post 1.55 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th were given a dividend of $0.155 per share. The ex-dividend date was Thursday, August 13th. This represents a $0.62 annualized dividend and a dividend yield of 5.44%. Invesco’s payout ratio is 24.31%.
Several research analysts have recently weighed in on IVZ shares. Royal Bank of Canada boosted their price objective on shares of Invesco from $10.00 to $11.00 and gave the company a “sector perform” rating in a report on Thursday, July 30th. Citigroup decreased their target price on shares of Invesco from $5.00 to $4.50 and set a “sell” rating for the company in a research note on Thursday, July 30th. Morgan Stanley raised their price target on Invesco from $8.00 to $11.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 2nd. ValuEngine lowered Invesco from a “sell” rating to a “strong sell” rating in a report on Tuesday. Finally, Deutsche Bank lowered their target price on Invesco from $12.00 to $11.00 and set a “buy” rating on the stock in a report on Friday, May 15th. Six equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $10.44.
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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