Allianz Asset Management GmbH Purchases 154,003 Shares of Invesco Ltd. (NYSE:IVZ)

Key Points

• Allianz Asset Management GmbH increased its ownership in Invesco Ltd. by 16.8%, acquiring an additional 154,003 shares, bringing its total stake to over 1 million shares worth approximately $16.28 million.
• Invesco recently announced a quarterly dividend of $0.21 per share, representing a dividend yield of 3.86% and a payout ratio of 90.32%.
• Despite missing earnings estimates with an EPS of $0.36 for the last quarter, Invesco reported a 2.2% year-over-year revenue increase, reaching $1.10 billion.

Allianz Asset Management GmbH raised its holdings in Invesco Ltd. (NYSE:IVZ - Free Report) by 16.8% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,073,314 shares of the asset manager's stock after buying an additional 154,003 shares during the period. Allianz Asset Management GmbH owned about 0.24% of Invesco worth $16,282,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Colonial Trust Co SC acquired a new position in shares of Invesco in the fourth quarter valued at approximately $38,000. Aster Capital Management DIFC Ltd grew its position in shares of Invesco by 180.5% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 2,379 shares of the asset manager's stock valued at $42,000 after purchasing an additional 1,531 shares during the last quarter. Resona Asset Management Co. Ltd. acquired a new position in shares of Invesco in the fourth quarter valued at approximately $52,000. Versant Capital Management Inc grew its position in shares of Invesco by 264.1% in the first 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 acquired a new position in shares of Invesco in the first quarter valued at approximately $49,000. Institutional investors own 66.09% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on IVZ. JPMorgan Chase & Co. reduced their price target on Invesco from $19.00 to $16.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 16th. Wells Fargo & Company raised Invesco from an "underweight" rating to an "equal weight" rating and increased their price target for the stock from $14.50 to $18.00 in a research report on Friday, July 11th. Bank of America reduced their price target on Invesco from $19.00 to $18.00 and set a "neutral" rating on the stock in a research report on Thursday, April 3rd. Citigroup reduced their price target on Invesco from $20.00 to $16.00 and set a "neutral" rating on the stock in a research report on Monday, March 31st. Finally, TD Cowen raised Invesco from a "hold" rating to a "buy" rating and increased their price target for the stock from $17.50 to $25.00 in a research report on Monday, July 21st. Fourteen analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $18.78.

Invesco Price Performance

Shares of IVZ stock traded down $0.14 during trading hours on Tuesday, reaching $21.55. The company's stock had a trading volume of 3,372,033 shares, compared to its average volume of 5,686,555. The firm's 50 day simple moving average is $16.22 and its 200-day simple moving average is $15.95. The company has a market capitalization of $9.64 billion, a price-to-earnings ratio of 23.17, a PEG ratio of 1.18 and a beta of 1.48. Invesco Ltd. has a fifty-two week low of $11.60 and a fifty-two week high of $21.84. 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 (NYSE:IVZ - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The asset manager reported $0.36 EPS 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 7.97%. The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter in the previous year, the company posted $0.43 earnings per share. The firm's revenue was up 2.2% on a year-over-year basis. Sell-side analysts forecast that Invesco Ltd. will post 1.87 earnings per share for the current year.

Invesco Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Thursday, August 14th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.90%. The ex-dividend date of this dividend is Thursday, August 14th. Invesco's payout ratio is 90.32%.

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.