Invesco Ltd. $IVZ Shares Sold by Contravisory Investment Management Inc.

Key Points

• Contravisory Investment Management Inc. sold 44,692 shares of Invesco Ltd., reducing its position by 95.5% during the second quarter, leaving it with only 2,103 shares valued at $33,000.
• Several large investors increased their stakes in Invesco, with Principal Financial Group Inc. raising its position by 177.3%, now owning 1,398,364 shares valued at $21,213,000.
• Invesco's stock was upgraded by multiple analysts, with TD Cowen raising its price objective from $17.50 to $25.00, reflecting a positive shift in market sentiment.

Contravisory Investment Management Inc. lessened its holdings in Invesco Ltd. (NYSE:IVZ - Free Report) by 95.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,103 shares of the asset manager's stock after selling 44,692 shares during the quarter. Contravisory Investment Management Inc.'s holdings in Invesco were worth $33,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Jump Financial LLC boosted its stake in shares of Invesco by 30.2% during the 1st quarter. Jump Financial LLC now owns 231,218 shares of the asset manager's stock worth $3,508,000 after purchasing an additional 53,608 shares during the period. New York State Teachers Retirement System boosted its stake in shares of Invesco by 8.5% in the 1st quarter. New York State Teachers Retirement System now owns 405,269 shares of the asset manager's stock valued at $6,148,000 after buying an additional 31,643 shares during the period. Principal Financial Group Inc. increased its position in Invesco by 177.3% during the first quarter. Principal Financial Group Inc. now owns 1,398,364 shares of the asset manager's stock worth $21,213,000 after buying an additional 894,105 shares during the period. Nisa Investment Advisors LLC raised its position in Invesco by 25.7% in the first quarter. Nisa Investment Advisors LLC now owns 199,155 shares of the asset manager's stock worth $3,021,000 after acquiring an additional 40,665 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its position in shares of 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. 66.09% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Invesco

In other news, Director Stephanie Butcher sold 103,192 shares of the business's stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $22.12, for a total transaction of $2,282,607.04. Following the completion of the transaction, the director owned 29,855 shares of the company's stock, valued at approximately $660,392.60. The trade was a 77.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.21% of the stock is owned by corporate insiders.

Invesco Price Performance

IVZ traded up $0.13 on Monday, hitting $22.62. 1,150,023 shares of the company were exchanged, compared to its average volume of 5,422,445. The firm has a market capitalization of $10.09 billion, a P/E ratio of 24.32, a price-to-earnings-growth ratio of 1.27 and a beta of 1.58. The business's fifty day moving average is $21.14 and its 200 day moving average is $16.98. Invesco Ltd. has a fifty-two week low of $11.60 and a fifty-two week high of $22.81. 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 released its earnings results on Tuesday, July 22nd. The asset manager reported $0.36 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.05). The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.09 billion. Invesco had a net margin of 10.68% and a return on equity of 8.60%. The firm's revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.43 earnings per share. As a group, sell-side analysts anticipate that Invesco Ltd. will post 1.87 EPS for the current year.

Invesco Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Thursday, August 14th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date was Thursday, August 14th. Invesco's dividend payout ratio (DPR) is currently 90.32%.

Analyst Upgrades and Downgrades

IVZ has been the subject of several recent research reports. Barclays boosted their target price on shares of Invesco from $17.00 to $22.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 23rd. Evercore ISI reiterated a "positive" rating on shares of Invesco in a report on Friday, September 5th. Royal Bank Of Canada reissued a "sector perform" rating and issued a $16.00 target price (up previously from $14.00) on shares of Invesco in a research report on Thursday, July 10th. Wells Fargo & Company upgraded Invesco from an "underweight" rating to an "equal weight" rating and upped their target price for the company from $14.50 to $18.00 in a research report on Friday, July 11th. Finally, Morgan Stanley raised their target price on Invesco from $15.00 to $16.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 2nd. Four investment analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Invesco has an average rating of "Hold" and an average target price of $19.38.

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.