Bank of Nova Scotia Purchases 100,151 Shares of Invesco Ltd. (NYSE:IVZ)

Key Points

• The Bank of Nova Scotia increased its stake in Invesco Ltd. by 25.6% in Q1, bringing its total holdings to 490,827 shares valued at approximately $7.4 million.
• Analysts have adjusted their price targets for Invesco, with most reporting an average target of $18.78, including upgrades from Evercore ISI and Royal Bank of Canada.
• Invesco announced a quarterly dividend of $0.21 per share, reflecting an annualized yield of 4.0%, payable on September 2nd, to shareholders of record on August 14th.

Bank of Nova Scotia grew its holdings in Invesco Ltd. (NYSE:IVZ - Free Report) by 25.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 490,827 shares of the asset manager's stock after purchasing an additional 100,151 shares during the period. Bank of Nova Scotia owned about 0.11% of Invesco worth $7,446,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. D.A. Davidson & CO. increased its holdings in Invesco by 1.6% in the first quarter. D.A. Davidson & CO. now owns 47,462 shares of the asset manager's stock valued at $720,000 after purchasing an additional 755 shares during the period. True Wealth Design LLC increased its position in Invesco by 18.3% during the 4th quarter. True Wealth Design LLC now owns 5,183 shares of the asset manager's stock valued at $91,000 after purchasing an additional 801 shares during the period. CANADA LIFE ASSURANCE Co raised its holdings in Invesco by 0.5% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 153,250 shares of the asset manager's stock worth $2,677,000 after purchasing an additional 835 shares during the last quarter. CWM LLC lifted its position in shares of Invesco by 0.5% in the 1st quarter. CWM LLC now owns 163,434 shares of the asset manager's stock worth $2,479,000 after purchasing an additional 862 shares during the period. Finally, Treasurer of the State of North Carolina boosted its stake in shares of Invesco by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 160,661 shares of the asset manager's stock valued at $2,808,000 after purchasing an additional 1,010 shares during the last quarter. Institutional investors own 66.09% of the company's stock.

Wall Street Analyst Weigh In

IVZ has been the subject of several recent analyst reports. Morgan Stanley raised their price objective on shares of Invesco from $15.00 to $16.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 2nd. The Goldman Sachs Group raised their price target on shares of Invesco from $16.25 to $16.75 and gave the stock a "neutral" rating in a report on Friday, June 27th. JPMorgan Chase & Co. dropped their price objective on shares of Invesco from $19.00 to $16.00 and set a "neutral" rating on the stock in a report on Wednesday, April 16th. TD Cowen raised shares of Invesco from a "hold" rating to a "buy" rating and increased their price objective for the stock from $17.50 to $25.00 in a research report on Monday, July 21st. Finally, Royal Bank Of Canada restated a "sector perform" rating and issued a $16.00 target price (up from $14.00) on shares of Invesco in a research note on Thursday, July 10th. Fourteen 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, the stock currently has an average rating of "Hold" and an average price target of $18.78.

Invesco Trading Up 1.4%

IVZ traded up $0.30 during trading on Friday, hitting $20.87. 1,112,607 shares of the stock traded hands, compared to its average volume of 5,710,603. The firm has a market capitalization of $9.34 billion, a P/E ratio of 22.42, a price-to-earnings-growth ratio of 1.15 and a beta of 1.55. Invesco Ltd. has a 12-month low of $11.60 and a 12-month high of $21.85. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.30 and a quick ratio of 1.37. The firm has a 50-day moving average of $17.25 and a 200 day moving average of $16.20.

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 for the quarter, missing analysts' consensus estimates of $0.41 by ($0.05). The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.09 billion. Invesco had a return on equity of 8.60% and a net margin of 10.68%. Invesco's quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.43 earnings per share. Equities research analysts anticipate that Invesco Ltd. will post 1.87 EPS for the current year.

Invesco Dividend Announcement

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