Continental Advisors LLC Sells 38,600 Shares of Invesco Ltd. $IVZ

Key Points

• Continental Advisors LLC reduced its stake in Invesco Ltd. by 22.7%, selling 38,600 shares, which now represents 1.1% of its portfolio, valued at approximately $1.998 million.
• Invesco reported $0.36 earnings per share for the last quarter, missing the consensus estimate of $0.41, while the company's revenue increased by 2.2% year-over-year to $1.10 billion.
• Invesco recently announced a quarterly dividend of $0.21, with a total annualized yield of 3.8% and a payout ratio of 90.32%.

Continental Advisors LLC decreased its holdings in shares of Invesco Ltd. (NYSE:IVZ - Free Report) by 22.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 131,690 shares of the asset manager's stock after selling 38,600 shares during the quarter. Invesco comprises approximately 1.1% of Continental Advisors LLC's portfolio, making the stock its 26th biggest holding. Continental Advisors LLC's holdings in Invesco were worth $1,998,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Federated Hermes Inc. raised its holdings in Invesco by 186.6% during the 1st quarter. Federated Hermes Inc. now owns 1,969 shares of the asset manager's stock valued at $30,000 after acquiring an additional 1,282 shares during the period. SVB Wealth LLC bought a new stake in Invesco during the 1st quarter valued at $32,000. Summit Securities Group LLC purchased a new position in shares of Invesco during the 1st quarter valued at $41,000. Versant Capital Management Inc grew its position in shares of Invesco by 264.1% during the 1st 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 in the last quarter. Finally, Curat Global LLC purchased a new position in shares of Invesco during the 1st quarter valued at $49,000. Institutional investors own 66.09% of the company's stock.

Invesco Stock Down 0.1%

Shares of NYSE:IVZ opened at $21.98 on Tuesday. Invesco Ltd. has a 52-week low of $11.60 and a 52-week high of $22.25. The firm has a fifty day moving average of $20.15 and a 200 day moving average of $16.64. The firm has a market capitalization of $9.80 billion, a PE ratio of 23.63, a price-to-earnings-growth ratio of 1.24 and a beta of 1.58. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.30 and a current ratio of 1.30.

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

Invesco Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Thursday, August 14th were given a $0.21 dividend. The ex-dividend date was Thursday, August 14th. This represents a $0.84 annualized dividend and a yield of 3.8%. Invesco's payout ratio is 90.32%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on IVZ. Zacks Research upgraded shares of Invesco to a "hold" rating in a research report on Tuesday, August 12th. Morgan Stanley boosted their price target on shares of Invesco from $15.00 to $16.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 2nd. Evercore ISI restated a "positive" rating on shares of Invesco in a research report on Friday. Barclays boosted their price target on shares of Invesco from $17.00 to $22.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 23rd. Finally, The Goldman Sachs Group boosted their price target on shares of Invesco from $16.25 to $16.75 and gave the company a "neutral" rating in a research report on Friday, June 27th. Three analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $19.38.

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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