Banco Bilbao Vizcaya Argentaria S.A. Cuts Stake in Invesco Ltd. $IVZ

Banco Bilbao Vizcaya Argentaria S.A. reduced its stake in shares of Invesco Ltd. (NYSE:IVZ) by 4.2% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 133,788 shares of the asset manager’s stock after selling 5,855 shares during the period. Banco Bilbao Vizcaya Argentaria S.A.’s holdings in Invesco were worth $2,110,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Federated Hermes Inc. raised its stake in shares of Invesco by 186.6% during the first quarter. Federated Hermes Inc. now owns 1,969 shares of the asset manager’s stock valued at $30,000 after purchasing an additional 1,282 shares during the period. IFP Advisors Inc grew its holdings in Invesco by 55.7% during the 2nd quarter. IFP Advisors Inc now owns 2,127 shares of the asset manager’s stock valued at $34,000 after purchasing an additional 761 shares in the last quarter. SVB Wealth LLC acquired a new stake in Invesco during the 1st quarter valued at $32,000. UMB Bank n.a. increased its stake in Invesco by 45.8% during the 2nd quarter. UMB Bank n.a. now owns 2,623 shares of the asset manager’s stock worth $41,000 after buying an additional 824 shares during the period. Finally, Summit Securities Group LLC acquired a new position in Invesco in the 1st quarter worth $41,000. Hedge funds and other institutional investors own 66.09% of the company’s stock.

Invesco Stock Down 2.0%

IVZ stock opened at $23.51 on Monday. The stock has a market cap of $10.46 billion, a PE ratio of 15.99, a price-to-earnings-growth ratio of 0.85 and a beta of 1.72. The firm’s 50-day simple moving average is $23.12 and its 200 day simple moving average is $19.57. Invesco Ltd. has a fifty-two week low of $11.60 and a fifty-two week high of $24.75. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.67.

Invesco (NYSE:IVZ) last posted its earnings results on Tuesday, October 28th. The asset manager reported $0.61 EPS for the quarter, topping the consensus estimate of $0.44 by $0.17. The firm had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.17 billion. Invesco had a net margin of 14.15% and a return on equity of 8.52%. Invesco’s quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.44 EPS. As a group, sell-side analysts predict that Invesco Ltd. will post 1.87 EPS for the current year.

Invesco Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 2nd. Shareholders of record on Friday, November 14th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a $0.84 annualized dividend and a yield of 3.6%. Invesco’s payout ratio is presently 57.14%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Fundamental Research set a $27.00 price target on Invesco in a research note on Friday, October 31st. The Goldman Sachs Group upped their target price on Invesco from $25.50 to $26.50 and gave the company a “neutral” rating in a research report on Wednesday, October 29th. Weiss Ratings reissued a “hold (c+)” rating on shares of Invesco in a research report on Thursday. Barclays lifted their price target on shares of Invesco from $24.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 29th. Finally, TD Cowen upgraded shares of Invesco from a “hold” rating to a “buy” rating and increased their price objective for the company from $17.50 to $25.00 in a research note on Monday, July 21st. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $23.70.

Insider Buying and Selling at Invesco

In related news, Director Douglas J. Sharp sold 160,000 shares of the stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $23.56, for a total value of $3,769,600.00. Following the completion of the transaction, the director owned 192 shares in the company, valued at $4,523.52. This represents a 99.88% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Stephanie Butcher sold 103,192 shares of the business’s stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $22.12, for a total transaction of $2,282,607.04. Following the sale, the director owned 29,855 shares in the company, valued at $660,392.60. This trade represents a 77.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.21% of the stock is owned by 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.