Invesco Ltd. (NYSE:IVZ) was the recipient of a significant growth in short interest in July. As of July 31st, there was short interest totalling 24,514,800 shares, a growth of 5.2% from the June 30th total of 23,310,000 shares. Currently, 6.3% of the company’s shares are sold short. Based on an average trading volume of 5,190,000 shares, the short-interest ratio is currently 4.7 days.
In other Invesco news, major shareholder Ltd. Invesco acquired 2,222,222 shares of Invesco stock in a transaction that occurred on Monday, June 10th. The stock was bought at an average price of $4.50 per share, with a total value of $9,999,999.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director G Richard Wagoner, Jr. acquired 10,000 shares of Invesco stock in a transaction that occurred on Friday, June 7th. The stock was acquired at an average cost of $20.71 per share, with a total value of $207,100.00. Following the purchase, the director now directly owns 25,648 shares of the company’s stock, valued at $531,170.08. The disclosure for this purchase can be found here. Insiders own 1.90% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Invesco by 0.7% during the second quarter. Vanguard Group Inc. now owns 45,201,641 shares of the asset manager’s stock valued at $924,825,000 after buying an additional 313,139 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Invesco by 3.7% during the first quarter. BlackRock Inc. now owns 36,286,388 shares of the asset manager’s stock valued at $700,692,000 after buying an additional 1,299,090 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of Invesco by 67.6% during the second quarter. Bank of America Corp DE now owns 27,756,146 shares of the asset manager’s stock valued at $567,890,000 after buying an additional 11,199,785 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Invesco by 4.5% during the second quarter. JPMorgan Chase & Co. now owns 10,141,470 shares of the asset manager’s stock valued at $206,479,000 after buying an additional 441,091 shares during the last quarter. Finally, FMR LLC grew its holdings in shares of Invesco by 54.9% during the first quarter. FMR LLC now owns 6,527,859 shares of the asset manager’s stock valued at $126,053,000 after buying an additional 2,312,927 shares during the last quarter. 65.07% of the stock is currently owned by hedge funds and other institutional investors.
Invesco (NYSE:IVZ) last announced its quarterly earnings data on Thursday, July 25th. The asset manager reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.08. The firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.03 billion. Invesco had a net margin of 11.45% and a return on equity of 10.23%. The business’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.66 earnings per share. As a group, sell-side analysts anticipate that Invesco will post 2.43 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th will be issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 7.92%. The ex-dividend date of this dividend is Wednesday, August 14th. Invesco’s dividend payout ratio (DPR) is presently 51.03%.
A number of equities analysts recently commented on IVZ shares. UBS Group downgraded shares of Invesco from a “neutral” rating to a “sell” rating and set a $18.00 price objective for the company. in a research note on Monday, May 13th. William Blair reissued a “market perform” rating on shares of Invesco in a research note on Thursday, April 25th. Citigroup set a $20.00 price objective on shares of Invesco and gave the stock a “hold” rating in a research note on Wednesday, July 31st. Deutsche Bank set a $21.00 price objective on shares of Invesco and gave the stock a “hold” rating in a research note on Friday, July 26th. Finally, Jefferies Financial Group downgraded shares of Invesco from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $24.00 to $23.00 in a research note on Friday, June 7th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $22.36.
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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