Raymond James & Associates boosted its holdings in Invesco Ltd. (NYSE:IVZ) by 17.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 88,366 shares of the asset manager’s stock after acquiring an additional 13,145 shares during the quarter. Raymond James & Associates’ holdings in Invesco were worth $2,130,000 at the end of the most recent quarter.
Several other hedge funds have also recently modified their holdings of the company. New York State Common Retirement Fund increased its position in shares of Invesco by 31.4% during the 3rd quarter. New York State Common Retirement Fund now owns 1,150,458 shares of the asset manager’s stock valued at $27,738,000 after purchasing an additional 274,624 shares during the period. Victory Capital Management Inc. increased its position in shares of Invesco by 15.6% during the 3rd quarter. Victory Capital Management Inc. now owns 1,175,509 shares of the asset manager’s stock valued at $28,342,000 after purchasing an additional 158,595 shares during the period. Wright Investors Service Inc. increased its position in shares of Invesco by 4.3% during the 3rd quarter. Wright Investors Service Inc. now owns 144,090 shares of the asset manager’s stock valued at $3,474,000 after purchasing an additional 5,957 shares during the period. AE Wealth Management LLC increased its position in shares of Invesco by 21.5% during the 3rd quarter. AE Wealth Management LLC now owns 121,123 shares of the asset manager’s stock valued at $2,920,000 after purchasing an additional 21,453 shares during the period. Finally, Proffitt & Goodson Inc. acquired a new position in shares of Invesco during the 3rd quarter valued at $528,000. Institutional investors own 64.76% of the company’s stock.
Several equities analysts have recently issued reports on the company. Bank of America assumed coverage on Invesco in a research report on Thursday, December 16th. They set a “neutral” rating and a $26.00 price target on the stock. BMO Capital Markets upgraded Invesco from a “market perform” rating to an “outperform” rating and set a $33.00 price target on the stock in a research report on Thursday, December 16th. Morgan Stanley raised their price objective on Invesco from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Friday, January 7th. Citigroup raised their price objective on Invesco from $33.50 to $35.00 and gave the stock a “buy” rating in a research note on Tuesday, October 26th. Finally, The Goldman Sachs Group reduced their price objective on Invesco from $27.00 to $26.00 and set a “neutral” rating for the company in a research note on Tuesday, January 4th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $29.58.
Shares of Invesco stock opened at $24.89 on Friday. The stock has a market cap of $11.48 billion, a PE ratio of 9.80, a price-to-earnings-growth ratio of 0.57 and a beta of 1.22. The business has a fifty day simple moving average of $23.85 and a 200-day simple moving average of $24.68. The company has a quick ratio of 3.30, a current ratio of 3.30 and a debt-to-equity ratio of 0.79. Invesco Ltd. has a 12 month low of $19.50 and a 12 month high of $29.71.
Invesco (NYSE:IVZ) last issued its earnings results on Tuesday, October 26th. The asset manager reported $0.77 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.04. The business had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.33 billion. Invesco had a return on equity of 14.33% and a net margin of 20.92%. Invesco’s revenue was up 16.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.53 earnings per share. Analysts expect that Invesco Ltd. will post 3 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 2nd. Investors of record on Friday, November 12th were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Wednesday, November 10th. This represents a $0.68 dividend on an annualized basis and a yield of 2.73%. Invesco’s payout ratio is 26.77%.
Invesco Company Profile
Invesco Ltd. engages in the investment management business. Its product includes mutual funds, unit trusts, exchange-traded funds, closed-end funds, and retirement plans. The company was founded in December 1935 and is headquartered in Atlanta, GA.
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