Oppenheimer Asset Management Inc. boosted its stake in shares of Invesco Ltd. (NYSE:IVZ) by 51.6% in the third quarter, Holdings Channel reports. The firm owned 38,875 shares of the asset manager’s stock after acquiring an additional 13,237 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Invesco were worth $937,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently made changes to their positions in the business. Keybank National Association OH boosted its position in Invesco by 4.3% during the third quarter. Keybank National Association OH now owns 10,655 shares of the asset manager’s stock worth $257,000 after purchasing an additional 441 shares during the period. Estate Counselors LLC boosted its position in Invesco by 1.2% during the third quarter. Estate Counselors LLC now owns 43,645 shares of the asset manager’s stock worth $1,052,000 after purchasing an additional 520 shares during the period. O Shaughnessy Asset Management LLC boosted its position in Invesco by 4.4% during the third quarter. O Shaughnessy Asset Management LLC now owns 12,912 shares of the asset manager’s stock worth $311,000 after purchasing an additional 539 shares during the period. CIBC Private Wealth Group LLC boosted its position in Invesco by 1.1% during the second quarter. CIBC Private Wealth Group LLC now owns 50,516 shares of the asset manager’s stock worth $1,350,000 after purchasing an additional 557 shares during the period. Finally, Redwood Investment Management LLC lifted its holdings in shares of Invesco by 1.0% during the second quarter. Redwood Investment Management LLC now owns 62,576 shares of the asset manager’s stock worth $1,673,000 after buying an additional 597 shares during the last quarter. 64.76% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE IVZ opened at $22.41 on Wednesday. The business has a fifty day simple moving average of $23.16 and a 200 day simple moving average of $24.34. The company has a current ratio of 1.44, a quick ratio of 3.30 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $10.34 billion, a price-to-earnings ratio of 7.47, a PEG ratio of 0.50 and a beta of 1.22. Invesco Ltd. has a one year low of $20.25 and a one year high of $29.71.
Invesco (NYSE:IVZ) last released its quarterly earnings data on Monday, January 24th. The asset manager reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.10. Invesco had a return on equity of 13.19% and a net margin of 23.64%. The firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.36 billion. During the same period in the prior year, the company posted $0.72 earnings per share. The business’s revenue for the quarter was up 11.8% compared to the same quarter last year. On average, research analysts anticipate that Invesco Ltd. will post 3.11 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 2nd. Shareholders of record on Wednesday, February 16th will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Tuesday, February 15th. This represents a $0.68 annualized dividend and a yield of 3.03%. Invesco’s dividend payout ratio is currently 22.67%.
A number of research analysts have recently commented on IVZ shares. BMO Capital Markets cut their price target on Invesco from $33.00 to $29.00 and set an “outperform” rating for the company in a report on Wednesday, January 26th. Citigroup cut their price target on Invesco from $33.00 to $32.00 and set a “buy” rating for the company in a report on Wednesday, January 26th. Morgan Stanley cut their price target on Invesco from $29.00 to $27.00 and set an “equal weight” rating for the company in a report on Wednesday, January 26th. Royal Bank of Canada cut their price target on Invesco from $26.00 to $23.00 in a report on Tuesday, January 25th. Finally, Bank of America cut their price target on Invesco from $26.00 to $24.00 and set a “neutral” rating for the company in a report on Wednesday, January 26th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Invesco presently has a consensus rating of “Hold” and an average target price of $29.27.
In other Invesco news, Director Colin Meadows sold 47,210 shares of the stock in a transaction on Thursday, November 4th. The stock was sold at an average price of $25.84, for a total transaction of $1,219,906.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.87% of the company’s stock.
About Invesco
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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