Allianz Asset Management GmbH Buys 66,257 Shares of Invesco Ltd. $IVZ

Key Points

• Allianz Asset Management increased its stake in Invesco Ltd. by 6.2% in the second quarter, acquiring an additional 66,257 shares for a total ownership of approximately $17.97 million.
• Invesco reported $0.36 earnings per share for the last quarter, which was below the analysts' consensus estimate of $0.41, despite a revenue increase of 2.2% year-over-year.
• The firm declared a quarterly dividend of $0.21 per share, with a current dividend yield of 3.7% and a payout ratio of approximately 90.32%.

Allianz Asset Management GmbH grew its stake in Invesco Ltd. (NYSE:IVZ - Free Report) by 6.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,139,571 shares of the asset manager's stock after acquiring an additional 66,257 shares during the period. Allianz Asset Management GmbH owned 0.25% of Invesco worth $17,971,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. D.A. Davidson & CO. grew its holdings in Invesco by 1.6% during the first quarter. D.A. Davidson & CO. now owns 47,462 shares of the asset manager's stock worth $720,000 after purchasing an additional 755 shares during the period. IFP Advisors Inc grew its holdings in Invesco by 55.7% during the second quarter. IFP Advisors Inc now owns 2,127 shares of the asset manager's stock worth $34,000 after purchasing an additional 761 shares during the period. EP Wealth Advisors LLC grew its holdings in Invesco by 6.8% during the first quarter. EP Wealth Advisors LLC now owns 12,477 shares of the asset manager's stock worth $189,000 after purchasing an additional 792 shares during the period. Brooklyn Investment Group grew its holdings in Invesco by 17.1% during the first quarter. Brooklyn Investment Group now owns 5,465 shares of the asset manager's stock worth $83,000 after purchasing an additional 800 shares during the period. Finally, UMB Bank n.a. grew its holdings in Invesco by 45.8% during the second quarter. UMB Bank n.a. now owns 2,623 shares of the asset manager's stock worth $41,000 after purchasing an additional 824 shares during the period. Institutional investors own 66.09% of the company's stock.

Invesco Price Performance

NYSE IVZ opened at $22.80 on Monday. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.88. Invesco Ltd. has a 1-year low of $11.60 and a 1-year high of $24.54. The company has a 50 day moving average of $22.31 and a 200-day moving average of $18.08. The company has a market cap of $10.17 billion, a price-to-earnings ratio of 24.52, a PEG ratio of 0.81 and a beta of 1.66.

Invesco (NYSE:IVZ - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The asset manager reported $0.36 earnings per share for the quarter, missing analysts' consensus estimates of $0.41 by ($0.05). Invesco had a net margin of 10.68% and a return on equity of 8.60%. The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same quarter in the previous year, the firm posted $0.43 earnings per share. The firm's quarterly revenue was up 2.2% on a year-over-year basis. On average, equities research analysts expect that Invesco Ltd. will post 1.87 earnings per share for the current fiscal year.

Invesco Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Thursday, August 14th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date was Thursday, August 14th. Invesco's payout ratio is presently 90.32%.

Insider Buying and Selling at Invesco

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on IVZ shares. Royal Bank Of Canada reiterated a "sector perform" rating and set a $16.00 price target (up previously from $14.00) on shares of Invesco in a report on Thursday, July 10th. BMO Capital Markets started coverage on Invesco in a report on Friday, October 3rd. They set an "outperform" rating and a $28.00 price target for the company. Weiss Ratings reiterated a "hold (c)" rating on shares of Invesco in a report on Wednesday, October 8th. Zacks Research upgraded shares of Invesco to a "hold" rating in a research report on Tuesday, August 12th. Finally, Evercore ISI raised their price objective on shares of Invesco from $24.00 to $26.00 and gave the stock an "in-line" rating in a research report on Thursday, October 9th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and thirteen have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $21.72.

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.

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