Millennium Management LLC Increases Holdings in Invesco Ltd. (NYSE:IVZ)

Millennium Management LLC boosted its holdings in shares of Invesco Ltd. (NYSE:IVZ) by 1,846.3% during the first quarter, Holdings Channel reports. The firm owned 4,169,551 shares of the asset manager’s stock after acquiring an additional 3,955,317 shares during the quarter. Millennium Management LLC’s holdings in Invesco were worth $105,156,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in IVZ. Orion Capital Management LLC purchased a new position in shares of Invesco during the 4th quarter worth approximately $30,000. Capital Asset Advisory Services LLC purchased a new position in shares of Invesco during the 4th quarter worth approximately $31,000. First Horizon Advisors Inc. grew its holdings in shares of Invesco by 2,601.7% during the 1st quarter. First Horizon Advisors Inc. now owns 1,567 shares of the asset manager’s stock worth $38,000 after acquiring an additional 1,509 shares during the period. First National Bank of South Miami purchased a new position in shares of Invesco during the 1st quarter worth approximately $41,000. Finally, Vantage Consulting Group Inc purchased a new position in shares of Invesco during the 4th quarter worth approximately $44,000. Institutional investors own 61.48% of the company’s stock.

IVZ stock traded down $0.45 during midday trading on Thursday, hitting $25.21. The company’s stock had a trading volume of 83,998 shares, compared to its average volume of 3,571,992. The stock has a market capitalization of $11.63 billion, a P/E ratio of 16.34, a PEG ratio of 1.44 and a beta of 1.28. Invesco Ltd. has a 12 month low of $9.72 and a 12 month high of $29.71. The company has a debt-to-equity ratio of 0.80, a quick ratio of 2.06 and a current ratio of 2.06. The business has a 50-day simple moving average of $27.19.

Invesco (NYSE:IVZ) last released its quarterly earnings data on Tuesday, April 27th. The asset manager reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.06. The business had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.21 billion. Invesco had a return on equity of 11.70% and a net margin of 14.32%. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.34 EPS. On average, equities analysts predict that Invesco Ltd. will post 2.92 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, June 3rd. Stockholders of record on Tuesday, May 11th were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 2.70%. This is a boost from Invesco’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Monday, May 10th. Invesco’s dividend payout ratio is presently 35.23%.

A number of research analysts have weighed in on the company. Evercore ISI reiterated a “sell” rating and set a $30.00 target price on shares of Invesco in a report on Friday, June 4th. Credit Suisse Group boosted their price target on Invesco from $30.00 to $37.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 28th. Deutsche Bank Aktiengesellschaft boosted their price target on Invesco from $33.00 to $35.00 and gave the stock a “buy” rating in a research report on Monday, July 12th. They noted that the move was a valuation call. Citigroup raised Invesco from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $29.00 to $34.00 in a research report on Monday, July 12th. Finally, raised Invesco from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $29.00 to $34.00 in a research report on Monday, July 12th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $26.54.

In other news, Director Andrew Tak Shing Lo sold 300,000 shares of the stock in a transaction on Tuesday, May 11th. The stock was sold at an average price of $27.34, for a total transaction of $8,202,000.00. Following the transaction, the director now directly owns 375,605 shares of the company’s stock, valued at approximately $10,269,040.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Colin Meadows sold 170,488 shares of the stock in a transaction on Friday, May 7th. The shares were sold at an average price of $28.28, for a total value of $4,821,400.64. Following the transaction, the director now directly owns 183,147 shares in the company, valued at $5,179,397.16. The disclosure for this sale can be found here. 1.87% of the stock is owned by corporate insiders.

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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Institutional Ownership by Quarter for Invesco (NYSE:IVZ)

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