Adage Capital Partners GP L.L.C. bought a new position in Invesco Ltd. (NYSE:IVZ - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 75,941 shares of the asset manager's stock, valued at approximately $1,152,000.
A number of other hedge funds have also recently added to or reduced their stakes in the company. Federated Hermes Inc. boosted its position in Invesco by 186.6% in the first quarter. Federated Hermes Inc. now owns 1,969 shares of the asset manager's stock worth $30,000 after purchasing an additional 1,282 shares during the last quarter. SVB Wealth LLC bought a new position in Invesco in the 1st quarter worth about $32,000. Summit Securities Group LLC bought a new position in Invesco in the 1st quarter worth about $41,000. Versant Capital Management Inc increased its position in shares of Invesco by 264.1% during the 1st quarter. Versant Capital Management Inc now owns 3,080 shares of the asset manager's stock valued at $47,000 after purchasing an additional 2,234 shares during the last quarter. Finally, Curat Global LLC bought a new position in shares of Invesco during the 1st quarter valued at about $49,000. Institutional investors and hedge funds own 66.09% of the company's stock.
Insider Transactions at Invesco
In other Invesco 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 of the company's stock, valued at approximately $660,392.60. This trade represents a 77.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.21% of the company's stock.
Invesco Trading Down 0.4%
IVZ stock traded down $0.09 during midday trading on Friday, reaching $22.47. 1,141,115 shares of the company traded hands, compared to its average volume of 5,458,799. Invesco Ltd. has a 52-week low of $11.60 and a 52-week high of $22.78. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.30 and a current ratio of 1.30. The business has a 50 day moving average of $20.50 and a 200-day moving average of $16.75. The firm has a market capitalization of $10.02 billion, a price-to-earnings ratio of 24.16, a P/E/G ratio of 1.24 and a beta of 1.58.
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 analysts' consensus estimates of $0.41 by ($0.05). The company had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $1.09 billion. Invesco had a net margin of 10.68% and a return on equity of 8.60%. The company's revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter last year, the company earned $0.43 earnings per share. As a group, sell-side analysts expect that Invesco Ltd. will post 1.87 earnings per share for the current fiscal year.
Invesco Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Thursday, August 14th were paid a $0.21 dividend. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $0.84 annualized dividend and a yield of 3.7%. Invesco's dividend payout ratio is 90.32%.
Analysts Set New Price Targets
Several research firms have weighed in on IVZ. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $16.00 price objective (up previously from $14.00) on shares of Invesco in a report on Thursday, July 10th. Evercore ISI reaffirmed a "positive" rating on shares of Invesco in a research report on Friday, September 5th. TD Cowen upgraded Invesco from a "hold" rating to a "buy" rating and boosted their price target for the stock from $17.50 to $25.00 in a research note on Monday, July 21st. Barclays lifted their price objective on Invesco from $17.00 to $22.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 23rd. Finally, Zacks Research raised Invesco to a "hold" rating in a report on Tuesday, August 12th. Three equities research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company. Based on data from MarketBeat.com, Invesco presently has an average rating of "Hold" and a consensus price target of $19.38.
View Our Latest Research Report on Invesco
Invesco Profile
(
Free Report)
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.
See Also
Before you consider Invesco, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Invesco wasn't on the list.
While Invesco currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
