Canada Pension Plan Investment Board cut its holdings in Invesco Ltd. (NYSE:IVZ – Free Report) by 33.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 48,100 shares of the asset manager’s stock after selling 24,000 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Invesco were worth $809,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Money Concepts Capital Corp lifted its stake in Invesco by 150.1% in the fourth quarter. Money Concepts Capital Corp now owns 1,688 shares of the asset manager’s stock valued at $30,000 after buying an additional 1,013 shares during the period. V Square Quantitative Management LLC acquired a new position in Invesco in the second quarter valued at approximately $35,000. Quilter Plc acquired a new position in Invesco in the second quarter valued at approximately $2,227,691,000. EverSource Wealth Advisors LLC lifted its stake in Invesco by 65.6% in the second quarter. EverSource Wealth Advisors LLC now owns 2,893 shares of the asset manager’s stock valued at $49,000 after buying an additional 1,146 shares during the period. Finally, Optiver Holding B.V. acquired a new position in Invesco in the first quarter valued at approximately $54,000. 66.27% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently weighed in on the company. Citigroup lowered their target price on Invesco from $19.00 to $15.75 and set a “neutral” rating on the stock in a research report on Monday, September 25th. Wells Fargo & Company lowered their target price on Invesco from $19.00 to $16.00 in a research report on Thursday, October 12th. Deutsche Bank Aktiengesellschaft lowered their target price on Invesco from $16.00 to $15.00 and set a “hold” rating on the stock in a research report on Wednesday, October 11th. Morgan Stanley lowered their target price on Invesco from $16.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 25th. Finally, The Goldman Sachs Group lowered their target price on Invesco from $15.50 to $14.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 25th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $16.48.
Invesco Trading Up 0.9 %
Shares of Invesco stock opened at $13.96 on Tuesday. The stock has a fifty day simple moving average of $13.76 and a 200 day simple moving average of $15.31. Invesco Ltd. has a 12-month low of $12.48 and a 12-month high of $20.56. The company has a market capitalization of $6.28 billion, a P/E ratio of 10.66, a price-to-earnings-growth ratio of 1.90 and a beta of 1.43. The company has a current ratio of 5.10, a quick ratio of 5.10 and a debt-to-equity ratio of 0.72.
Invesco (NYSE:IVZ – Get Free Report) last announced its quarterly earnings results on Tuesday, October 24th. The asset manager reported $0.35 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.35. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.09 billion. Invesco had a return on equity of 7.52% and a net margin of 14.50%. Invesco’s revenue was down 1.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.34 earnings per share. On average, sell-side analysts anticipate that Invesco Ltd. will post 1.42 earnings per share for the current fiscal year.
Invesco Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 4th. Shareholders of record on Friday, November 10th will be paid a $0.20 dividend. The ex-dividend date is Thursday, November 9th. This represents a $0.80 dividend on an annualized basis and a yield of 5.73%. Invesco’s dividend payout ratio (DPR) is presently 61.07%.
Insider Buying and Selling at Invesco
In other Invesco news, major shareholder Invesco Realty, Inc. acquired 796,323 shares of Invesco stock in a transaction on Monday, October 2nd. The stock was purchased at an average price of $25.12 per share, for a total transaction of $20,003,633.76. Following the purchase, the insider now directly owns 1,052,487 shares of the company’s stock, valued at $26,438,473.44. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 2.00% of the company’s stock.
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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