Invesco Ltd. $IVZ Shares Sold by Continental Advisors LLC

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 lessened its stake in Invesco Ltd. (NYSE:IVZ - Free Report) by 22.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 131,690 shares of the asset manager's stock after selling 38,600 shares during the period. Invesco accounts for approximately 1.1% of Continental Advisors LLC's investment portfolio, making the stock its 26th largest holding. Continental Advisors LLC's holdings in Invesco were worth $1,998,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Jump Financial LLC grew its stake in Invesco by 30.2% in the first quarter. Jump Financial LLC now owns 231,218 shares of the asset manager's stock valued at $3,508,000 after purchasing an additional 53,608 shares during the last quarter. New York State Teachers Retirement System grew its stake in Invesco by 8.5% in the first quarter. New York State Teachers Retirement System now owns 405,269 shares of the asset manager's stock valued at $6,148,000 after purchasing an additional 31,643 shares during the last quarter. Principal Financial Group Inc. grew its stake in Invesco by 177.3% in the first quarter. Principal Financial Group Inc. now owns 1,398,364 shares of the asset manager's stock valued at $21,213,000 after purchasing an additional 894,105 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in Invesco by 25.7% in the first quarter. Nisa Investment Advisors LLC now owns 199,155 shares of the asset manager's stock valued at $3,021,000 after purchasing an additional 40,665 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its stake in Invesco by 24.0% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 19,488 shares of the asset manager's stock valued at $296,000 after purchasing an additional 3,778 shares during the last quarter. Hedge funds and other institutional investors own 66.09% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Evercore ISI restated a "positive" rating on shares of Invesco in a research note on Friday, September 5th. The Goldman Sachs Group boosted their price target on Invesco from $16.25 to $16.75 and gave the stock a "neutral" rating in a research note on Friday, June 27th. Morgan Stanley boosted their price target on Invesco from $15.00 to $16.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 2nd. Royal Bank Of Canada restated a "sector perform" rating and set a $16.00 price target (up previously from $14.00) on shares of Invesco in a research note on Thursday, July 10th. Finally, TD Cowen upgraded Invesco from a "hold" rating to a "buy" rating and boosted their price target for the stock from $17.50 to $25.00 in a research note on Monday, July 21st. Three analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $19.38.

Insider Buying and Selling

In related news, Director Stephanie Butcher sold 103,192 shares of the company's stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $22.12, for a total value of $2,282,607.04. Following the sale, the director owned 29,855 shares in the company, valued at $660,392.60. This represents a 77.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.21% of the stock is currently owned by corporate insiders.

Invesco Stock Performance

NYSE IVZ traded down $0.12 during trading hours on Friday, reaching $22.43. The stock had a trading volume of 2,512,728 shares, compared to its average volume of 3,450,205. The stock has a fifty day moving average of $20.61 and a 200 day moving average of $16.78. The stock has a market cap of $10.00 billion, a P/E ratio of 24.12, a price-to-earnings-growth ratio of 1.25 and a beta of 1.58. Invesco Ltd. has a 52-week low of $11.60 and a 52-week high of $22.78. 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 issued its 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). The firm had revenue of $1.10 billion during the quarter, compared to analysts' expectations of $1.09 billion. Invesco had a net margin of 10.68% and a return on equity of 8.60%. Invesco's quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.43 EPS. Sell-side analysts predict that Invesco Ltd. will post 1.87 earnings per share for the current year.

Invesco Announces Dividend

The company 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 dividend on an annualized basis and a yield of 3.7%. Invesco's dividend 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.