Bank of Nova Scotia Sells 395,300 Shares of Invesco Ltd. $IVZ

Key Points

• Bank of Nova Scotia cut its Invesco stake by 97.6%, selling 395,300 shares and retaining 9,595 shares valued at approximately $233,000. Institutional investors collectively own 66.09% of Invesco.
• Invesco reported quarterly EPS of $0.71, exceeding estimates of $0.67, while revenue rose 20.5% year over year to $1.33 billion. Shares opened at $29.64, near the analyst consensus price target of $29.88.
• The company declared a quarterly dividend of $0.215 per share, equivalent to an annualized yield of about 2.9%. Analysts maintain a consensus “Hold” rating, although some recently raised their price targets or upgraded the stock.

Bank of Nova Scotia trimmed its holdings in shares of Invesco Ltd. (NYSE:IVZ - Free Report) by 97.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,595 shares of the asset manager's stock after selling 395,300 shares during the quarter. Bank of Nova Scotia's holdings in Invesco were worth $233,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. SJS Investment Consulting Inc. boosted its stake in shares of Invesco by 80.1% during the 1st quarter. SJS Investment Consulting Inc. now owns 1,207 shares of the asset manager's stock worth $29,000 after acquiring an additional 537 shares in the last quarter. American National Bank & Trust acquired a new position in shares of Invesco during the 4th quarter valued at about $31,000. Larson Financial Group LLC raised its stake in shares of Invesco by 61.5% in the 3rd quarter. Larson Financial Group LLC now owns 1,466 shares of the asset manager's stock valued at $34,000 after acquiring an additional 558 shares in the last quarter. Torren Management LLC bought a new position in shares of Invesco in the 4th quarter valued at approximately $44,000. Finally, Root Financial Partners LLC lifted its holdings in Invesco by 28.2% in the 4th quarter. Root Financial Partners LLC now owns 1,702 shares of the asset manager's stock worth $45,000 after purchasing an additional 374 shares during the last quarter. 66.09% of the stock is currently owned by institutional investors.

Invesco Stock Up 0.8%

Shares of IVZ stock opened at $29.64 on Friday. Invesco Ltd. has a 12 month low of $20.08 and a 12 month high of $31.02. The firm has a market cap of $13.14 billion, a PE ratio of -43.59, a price-to-earnings-growth ratio of 0.47 and a beta of 1.62. The stock has a 50 day moving average of $28.22 and a 200-day moving average of $26.70. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.79.

Invesco (NYSE:IVZ - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The asset manager reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.04. The business had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.32 billion. Invesco had a negative net margin of 0.93% and a positive return on equity of 12.03%. Invesco's quarterly revenue was up 20.5% on a year-over-year basis. During the same quarter last year, the company posted $0.36 earnings per share. On average, equities analysts predict that Invesco Ltd. will post 2.81 EPS for the current year.

Invesco Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Friday, August 14th will be issued a $0.215 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $0.86 dividend on an annualized basis and a yield of 2.9%. Invesco's dividend payout ratio is -126.47%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on IVZ shares. Wall Street Zen raised Invesco from a "hold" rating to a "buy" rating in a research report on Saturday. Barclays lifted their price target on shares of Invesco from $31.00 to $32.00 and gave the company an "equal weight" rating in a research report on Wednesday. Weiss Ratings upgraded shares of Invesco from a "hold (c-)" rating to a "hold (c)" rating in a research note on Monday, June 29th. TD Cowen raised their target price on shares of Invesco from $32.00 to $33.00 and gave the company a "buy" rating in a research note on Monday, June 8th. Finally, Argus reiterated a "hold" rating on shares of Invesco in a report on Wednesday, April 29th. Four investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $29.88.

Invesco Profile

Invesco Ltd. is an independent global investment management firm headquartered in Atlanta, Georgia, and publicly traded on the New York Stock Exchange NYSE: IVZ. With origins dating back to 1935, the company is dedicated to offering a wide array of investment strategies and solutions to both individual and institutional clients worldwide.

The firm's product suite encompasses actively managed equity and fixed income funds, passive index funds, exchange-traded funds (ETFs), closed-end funds, and unit investment trusts, alongside specialized offerings such as private markets, real estate, and structured products.

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