Jefferies Financial Group Inc. Acquires Shares of 951,449 Invesco Ltd. (NYSE:IVZ)

Key Points

• Jefferies Financial Group Inc. purchased 951,449 shares of Invesco Ltd., valued at approximately $14.4 million, representing a new stake in the company.
• Invesco recently reported earnings per share (EPS) of $0.36, missing estimates, and had a revenue of $1.10 billion, slightly exceeding expectations.
• The company declared a quarterly dividend of $0.21 per share, resulting in an annualized yield of 4.0% and a payout ratio of 90.32%.

Jefferies Financial Group Inc. acquired a new stake in Invesco Ltd. (NYSE:IVZ - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 951,449 shares of the asset manager's stock, valued at approximately $14,433,000. Jefferies Financial Group Inc. owned about 0.21% of Invesco at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. JPMorgan Chase & Co. grew its position in shares of Invesco by 17.1% during the 4th quarter. JPMorgan Chase & Co. now owns 1,285,609 shares of the asset manager's stock worth $22,472,000 after buying an additional 188,041 shares during the period. Norges Bank bought a new stake in Invesco in the 4th quarter valued at about $57,459,000. Nomura Asset Management Co. Ltd. increased its position in shares of Invesco by 10.6% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 14,255 shares of the asset manager's stock valued at $249,000 after buying an additional 1,367 shares during the period. Pictet Asset Management Holding SA increased its position in shares of Invesco by 3.7% in the fourth quarter. Pictet Asset Management Holding SA now owns 97,935 shares of the asset manager's stock worth $1,712,000 after purchasing an additional 3,508 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its position in shares of Invesco by 965.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 991,281 shares of the asset manager's stock worth $17,328,000 after purchasing an additional 898,210 shares during the last quarter. Institutional investors and hedge funds own 66.09% of the company's stock.

Wall Street Analyst Weigh In

IVZ has been the topic of several recent analyst reports. Royal Bank Of Canada restated a "sector perform" rating and issued a $16.00 target price (up previously from $14.00) on shares of Invesco in a report on Thursday, July 10th. JPMorgan Chase & Co. reduced their target price on Invesco from $19.00 to $16.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 16th. Morgan Stanley raised their price objective on Invesco from $15.00 to $16.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 2nd. The Goldman Sachs Group raised their price target on Invesco from $16.25 to $16.75 and gave the stock a "neutral" rating in a report on Friday, June 27th. Finally, Barclays lifted their price target on Invesco from $17.00 to $22.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 23rd. Fourteen equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, Invesco presently has an average rating of "Hold" and an average target price of $18.78.

Invesco Price Performance

IVZ traded up $0.18 during trading on Tuesday, reaching $21.18. The stock had a trading volume of 2,613,649 shares, compared to its average volume of 5,716,439. The firm has a market capitalization of $9.48 billion, a price-to-earnings ratio of 22.76, a price-to-earnings-growth ratio of 1.12 and a beta of 1.55. The company has a quick ratio of 1.37, a current ratio of 0.59 and a debt-to-equity ratio of 0.67. Invesco Ltd. has a 1-year low of $11.60 and a 1-year high of $21.85. The stock has a 50 day moving average of $16.87 and a two-hundred day moving average of $16.11.

Invesco (NYSE:IVZ - Get Free Report) last announced its earnings results 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 net margin of 10.68% and a return on equity of 7.97%. The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same period last year, the firm earned $0.43 earnings per share. Invesco's revenue for the quarter was up 2.2% compared to the same quarter last year. As a group, equities analysts anticipate that Invesco Ltd. will post 1.87 EPS for the current fiscal year.

Invesco Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Thursday, August 14th will be paid a dividend of $0.21 per share. The ex-dividend date is Thursday, August 14th. This represents a $0.84 dividend on an annualized basis and a yield of 4.0%. Invesco's dividend payout ratio (DPR) is currently 90.32%.

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.