Meiji Yasuda Asset Management Co Ltd. Acquires New Position in Invesco Ltd. $IVZ

Key Points

• Meiji Yasuda Asset Management Co Ltd. purchased 35,070 shares of Invesco Ltd., valued at approximately $532,000, signaling increased institutional interest in the company.
• Multiple analysts have adjusted their price targets for Invesco, with Barclays raising it from $17.00 to $22.00 and Royal Bank of Canada setting a target of $16.00.
• Invesco recently announced a quarterly dividend of $0.21 per share, translating to an annual yield of 3.8%, with a payout ratio of approximately 90.32%.

Meiji Yasuda Asset Management Co Ltd. purchased a new position in shares of Invesco Ltd. (NYSE:IVZ - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 35,070 shares of the asset manager's stock, valued at approximately $532,000.

Other large investors also recently added to or reduced their stakes in the company. Jump Financial LLC raised its stake in shares of Invesco by 30.2% in the first quarter. Jump Financial LLC now owns 231,218 shares of the asset manager's stock valued at $3,508,000 after acquiring an additional 53,608 shares in the last quarter. New York State Teachers Retirement System raised its stake in shares of Invesco by 8.5% in the first quarter. New York State Teachers Retirement System now owns 405,269 shares of the asset manager's stock valued at $6,148,000 after acquiring an additional 31,643 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Invesco by 177.3% in the first quarter. Principal Financial Group Inc. now owns 1,398,364 shares of the asset manager's stock valued at $21,213,000 after acquiring an additional 894,105 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Invesco by 25.7% in the first quarter. Nisa Investment Advisors LLC now owns 199,155 shares of the asset manager's stock valued at $3,021,000 after acquiring an additional 40,665 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Invesco by 24.0% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 19,488 shares of the asset manager's stock valued at $296,000 after acquiring an additional 3,778 shares in the last quarter. 66.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have weighed in on IVZ. The Goldman Sachs Group raised their price target on Invesco from $16.25 to $16.75 and gave the company a "neutral" rating in a research note on Friday, June 27th. Evercore ISI restated a "positive" rating on shares of Invesco in a research note on Friday, September 5th. Zacks Research raised Invesco to a "hold" rating in a report on Tuesday, August 12th. Royal Bank Of Canada reiterated a "sector perform" rating and set a $16.00 target price (up previously from $14.00) on shares of Invesco in a research report on Thursday, July 10th. Finally, Morgan Stanley lifted their target price on Invesco from $15.00 to $16.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 2nd. Three analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $19.38.

Invesco Price Performance

Shares of Invesco stock traded down $0.45 during trading on Tuesday, hitting $21.90. 1,117,936 shares of the company were exchanged, compared to its average volume of 5,431,913. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.88. Invesco Ltd. has a fifty-two week low of $11.60 and a fifty-two week high of $22.78. The stock has a market capitalization of $9.76 billion, a price-to-earnings ratio of 23.58, a P/E/G ratio of 1.25 and a beta of 1.58. The firm has a 50 day moving average price of $20.73 and a 200 day moving average price of $16.81.

Invesco (NYSE:IVZ - Get Free Report) last issued 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 firm earned $0.43 earnings per share. The company's revenue for the quarter was up 2.2% on a year-over-year basis. On average, equities analysts expect that Invesco Ltd. will post 1.87 earnings per share for the current fiscal year.

Invesco Announces Dividend

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

Insider Buying and Selling

In other news, Director Stephanie Butcher sold 103,192 shares of the business's stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $22.12, for a total transaction of $2,282,607.04. Following the completion of the sale, the director directly owned 29,855 shares of the company's stock, valued at $660,392.60. The trade was a 77.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.21% of the company's stock.

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.