AQR Capital Management LLC Raises Stock Holdings in Invesco Ltd. $IVZ

Key Points

• AQR Capital Management LLC increased its stake in Invesco Ltd. by 35.4%, acquiring an additional 2,882,928 shares, bringing its total to over 11 million shares worth approximately $165 million.
• Several other institutional investors also boosted their holdings in Invesco, including Federated Hermes Inc., which increased its stake by 186.6%, highlighting growing interest among hedge funds.
• Invesco reported Q2 earnings of $0.36 per share, which fell short of analysts' estimates, alongside a revenue of $1.10 billion, reflecting a 2.2% year-over-year growth.

AQR Capital Management LLC boosted its position in shares of Invesco Ltd. (NYSE:IVZ - Free Report) by 35.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,028,524 shares of the asset manager's stock after buying an additional 2,882,928 shares during the period. AQR Capital Management LLC owned approximately 2.46% of Invesco worth $165,262,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Federated Hermes Inc. boosted its stake in Invesco by 186.6% during the first quarter. Federated Hermes Inc. now owns 1,969 shares of the asset manager's stock valued at $30,000 after buying an additional 1,282 shares during the last quarter. SVB Wealth LLC bought a new position in Invesco during the first quarter valued at approximately $32,000. Colonial Trust Co SC bought a new position in Invesco during the fourth quarter valued at approximately $38,000. Summit Securities Group LLC bought a new position in Invesco during the first quarter valued at approximately $41,000. Finally, Versant Capital Management Inc boosted its stake in Invesco by 264.1% during the first quarter. Versant Capital Management Inc now owns 3,080 shares of the asset manager's stock valued at $47,000 after buying an additional 2,234 shares during the last quarter. 66.09% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on IVZ shares. Morgan Stanley increased their price target on Invesco from $15.00 to $16.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 2nd. Royal Bank Of Canada reissued a "sector perform" rating and set a $16.00 price target (up from $14.00) on shares of Invesco in a research note on Thursday, July 10th. Zacks Research raised Invesco to a "hold" rating in a research note on Tuesday, August 12th. TD Cowen raised Invesco from a "hold" rating to a "buy" rating and raised their price objective for the company from $17.50 to $25.00 in a research note on Monday, July 21st. Finally, The Goldman Sachs Group raised their price objective on Invesco from $16.25 to $16.75 and gave the company a "neutral" rating in a research note on Friday, June 27th. Two equities research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $18.78.

Invesco Trading Up 0.2%

Shares of NYSE IVZ opened at $21.69 on Thursday. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.88. The business has a fifty day simple moving average of $19.78 and a two-hundred day simple moving average of $16.58. The firm has a market cap of $9.67 billion, a PE ratio of 23.32, a price-to-earnings-growth ratio of 1.23 and a beta of 1.58. Invesco Ltd. has a twelve month low of $11.60 and a twelve month high of $22.25.

Invesco (NYSE:IVZ - Get Free Report) last issued its 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). The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate 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 period last year, the firm earned $0.43 earnings per share. 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 given a dividend of $0.21 per share. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $0.84 dividend on an annualized basis and a yield of 3.9%. Invesco's payout ratio is 90.32%.

About Invesco

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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