BlackRock Inc. trimmed its holdings in Invesco Ltd. (NYSE:IVZ) by 1.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 35,802,265 shares of the asset manager’s stock after selling 484,123 shares during the quarter. BlackRock Inc. owned 7.62% of Invesco worth $732,513,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of IVZ. Bank of America Corp DE boosted its holdings in Invesco by 67.6% in 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 purchasing an additional 11,199,785 shares during the last quarter. Crabel Capital Management LLC purchased a new stake in Invesco in the second quarter valued at $51,144,000. Nuveen Asset Management LLC boosted its holdings in Invesco by 16,854.7% in the second quarter. Nuveen Asset Management LLC now owns 1,975,556 shares of the asset manager’s stock valued at $40,420,000 after purchasing an additional 1,963,904 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in Invesco by 52.7% in the second quarter. Wells Fargo & Company MN now owns 2,863,997 shares of the asset manager’s stock valued at $58,598,000 after purchasing an additional 987,993 shares during the last quarter. Finally, Prudential Financial Inc. boosted its holdings in Invesco by 82.5% in the second quarter. Prudential Financial Inc. now owns 2,005,415 shares of the asset manager’s stock valued at $41,031,000 after purchasing an additional 906,771 shares during the last quarter. 67.25% of the stock is currently owned by institutional investors.
IVZ stock opened at $17.82 on Friday. The company’s 50-day simple moving average is $16.58 and its 200-day simple moving average is $18.52. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.78. Invesco Ltd. has a 52-week low of $15.15 and a 52-week high of $22.18. The firm has a market cap of $8.22 billion, a P/E ratio of 7.33, a PEG ratio of 0.90 and a beta of 1.54.
Invesco (NYSE:IVZ) last posted its earnings results on Wednesday, October 23rd. The asset manager reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.13. Invesco had a net margin of 8.86% and a return on equity of 10.60%. The business had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same period in the prior year, the company posted $0.66 EPS. The company’s revenue for the quarter was up 27.1% on a year-over-year basis. On average, analysts anticipate that Invesco Ltd. will post 2.58 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be given a dividend of $0.31 per share. The ex-dividend date is Friday, November 8th. This represents a $1.24 annualized dividend and a dividend yield of 6.96%. Invesco’s dividend payout ratio (DPR) is presently 51.03%.
Several equities research analysts have commented on IVZ shares. Citigroup set a $16.50 price target on shares of Invesco and gave the company a “hold” rating in a report on Friday, October 25th. Morgan Stanley set a $18.00 target price on shares of Invesco and gave the stock a “hold” rating in a research note on Friday, October 25th. Deutsche Bank raised shares of Invesco from a “hold” rating to a “buy” rating and increased their target price for the stock from $18.00 to $21.00 in a research note on Wednesday. Evercore ISI lowered shares of Invesco from an “in-line” rating to an “underperform” rating in a research note on Tuesday, October 22nd. Finally, ValuEngine lowered shares of Invesco from a “sell” rating to a “strong sell” rating in a research note on Friday. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $19.14.
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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