124,267 Shares in Invesco Ltd. $IVZ Acquired by Strs Ohio

Key Points

• Strs Ohio has acquired 124,267 shares of Invesco Ltd. valued at approximately $1,885,000, indicating growing institutional interest in the asset manager.
• Invesco reported $0.36 EPS for the latest quarter, missing estimates of $0.41, while revenue rose to $1.10 billion, slightly above expectations.
• The company recently announced a quarterly dividend of $0.21 per share, presenting a dividend yield of 3.8%, with a payout ratio of 90.32%.

Strs Ohio bought a new position in Invesco Ltd. (NYSE:IVZ - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 124,267 shares of the asset manager's stock, valued at approximately $1,885,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in IVZ. Ameriprise Financial Inc. lifted its holdings in Invesco by 2.4% in the 4th quarter. Ameriprise Financial Inc. now owns 391,285 shares of the asset manager's stock worth $6,840,000 after purchasing an additional 9,018 shares during the last quarter. Focus Partners Wealth lifted its holdings in shares of Invesco by 66.8% during the fourth quarter. Focus Partners Wealth now owns 34,934 shares of the asset manager's stock worth $611,000 after buying an additional 13,991 shares during the last quarter. Nuveen Asset Management LLC lifted its holdings in shares of Invesco by 2.4% during the fourth quarter. Nuveen Asset Management LLC now owns 1,294,262 shares of the asset manager's stock worth $22,624,000 after buying an additional 29,782 shares during the last quarter. Rafferty Asset Management LLC lifted its holdings in shares of Invesco by 1.8% during the fourth quarter. Rafferty Asset Management LLC now owns 170,159 shares of the asset manager's stock worth $2,974,000 after buying an additional 3,022 shares during the last quarter. Finally, Royal Bank of Canada lifted its holdings in shares of Invesco by 201.1% during the fourth quarter. Royal Bank of Canada now owns 1,035,657 shares of the asset manager's stock worth $18,103,000 after buying an additional 691,704 shares during the last quarter. 66.09% of the stock is currently owned by institutional investors and hedge funds.

Invesco Stock Performance

Invesco stock opened at $22.11 on Wednesday. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.30 and a quick ratio of 1.30. The stock has a fifty day moving average price of $20.83 and a two-hundred day moving average price of $16.85. Invesco Ltd. has a 52-week low of $11.60 and a 52-week high of $22.78. The firm has a market capitalization of $9.86 billion, a P/E ratio of 23.77, a P/E/G ratio of 1.25 and a beta of 1.58.

Invesco (NYSE:IVZ - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The asset manager reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.05). Invesco had a return on equity of 8.60% and a net margin of 10.68%.The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same quarter in the prior year, the company earned $0.43 earnings per share. The business's revenue was up 2.2% compared to the same quarter last year. As a group, analysts anticipate that Invesco Ltd. will post 1.87 EPS for the current fiscal year.

Invesco Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Thursday, August 14th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 3.8%. The ex-dividend date was Thursday, August 14th. Invesco's dividend payout ratio is presently 90.32%.

Wall Street Analysts Forecast Growth

IVZ has been the subject of a number of research analyst reports. TD Cowen upgraded Invesco from a "hold" rating to a "buy" rating and upped their price target for the stock from $17.50 to $25.00 in a report on Monday, July 21st. Barclays upped their price target on Invesco from $17.00 to $22.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 23rd. Wells Fargo & Company upgraded Invesco from an "underweight" rating to an "equal weight" rating and upped their target price for the company from $14.50 to $18.00 in a research note on Friday, July 11th. Evercore ISI restated a "positive" rating on shares of Invesco in a research note on Friday, September 5th. Finally, Morgan Stanley upped their target price on Invesco from $15.00 to $16.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 2nd. Three analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $19.38.

Insider Activity at Invesco

In other news, Director Stephanie Butcher sold 103,192 shares of the stock in a transaction on 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 approximately $660,392.60. This represents a 77.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.21% of the company's stock.

Invesco 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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