Teachers Retirement System of The State of Kentucky lessened its stake in shares of Invesco Ltd. (NYSE:IVZ) by 2.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 797,500 shares of the asset manager’s stock after selling 18,800 shares during the quarter. Teachers Retirement System of The State of Kentucky owned 0.20% of Invesco worth $29,141,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in IVZ. Avestar Capital LLC acquired a new stake in shares of Invesco during the fourth quarter worth about $137,000. Sun Life Financial INC purchased a new position in Invesco in the third quarter valued at approximately $145,000. Valeo Financial Advisors LLC purchased a new position in Invesco in the third quarter valued at approximately $160,000. Miles Capital Inc. purchased a new position in Invesco in the fourth quarter valued at approximately $205,000. Finally, Linscomb & Williams Inc. purchased a new position in Invesco in the fourth quarter valued at approximately $211,000. 82.31% of the stock is owned by institutional investors.
In other news, insider Kevin M. Carome sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $33.38, for a total transaction of $834,500.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Sarah Beshar bought 2,970 shares of the stock in a transaction dated Tuesday, February 27th. The shares were acquired at an average price of $33.32 per share, for a total transaction of $98,960.40. Following the completion of the transaction, the director now owns 8,837 shares of the company’s stock, valued at approximately $294,448.84. The disclosure for this purchase can be found here. Company insiders own 1.80% of the company’s stock.
Invesco (NYSE:IVZ) last announced its earnings results on Wednesday, January 31st. The asset manager reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.03. The business had revenue of $1 billion for the quarter, compared to analyst estimates of $982.86 million. Invesco had a net margin of 21.85% and a return on equity of 13.20%. The company’s revenue for the quarter was up 16.3% compared to the same quarter last year. During the same period last year, the firm posted $0.59 earnings per share. research analysts predict that Invesco Ltd. will post 3.09 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, March 2nd. Stockholders of record on Thursday, February 15th were given a dividend of $0.29 per share. The ex-dividend date was Wednesday, February 14th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.36%. Invesco’s dividend payout ratio (DPR) is presently 42.34%.
IVZ has been the topic of several recent analyst reports. Royal Bank of Canada set a $47.00 price target on shares of Invesco and gave the company a “buy” rating in a research note on Saturday, December 16th. Morgan Stanley lowered shares of Invesco from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $40.00 to $39.00 in a research note on Wednesday, January 3rd. ValuEngine upgraded shares of Invesco from a “hold” rating to a “buy” rating in a research note on Wednesday, December 6th. Citigroup lowered shares of Invesco from a “buy” rating to a “neutral” rating in a research note on Friday, January 19th. Finally, Credit Suisse Group upgraded shares of Invesco from a “neutral” rating to an “outperform” rating and increased their price target for the company from $42.00 to $43.00 in a research note on Wednesday, January 31st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the stock. Invesco has an average rating of “Hold” and an average price target of $40.57.
Invesco Company Profile
Invesco Ltd. (Invesco) is an independent investment management company. The Company provides a range of investment capabilities and outcomes, which are delivered through a set of investment vehicles, to help clients achieve their investment objectives. It has a presence in the retail and institutional markets within the investment management industry in North America; Europe, Middle East and Africa (EMEA), and Asia-Pacific.
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