Convergence Investment Partners LLC Has $4.33 Million Holdings in Invesco Ltd. $IVZ

Key Points

• Convergence Investment Partners boosted its stake in Invesco by 30.7% in the first quarter, buying 41,858 more shares and bringing its total holding to 178,323 shares worth about $4.33 million.
• Invesco reported mixed quarterly results, with EPS of $0.57 versus the $0.58 estimate and revenue of $1.26 billion slightly below expectations, though revenue still rose 14% year over year.
• The company recently raised its quarterly dividend to $0.215 per share, equal to an annualized yield of about 2.9%, while analysts currently rate the stock a consensus "Hold" with an average target price of $29.15.

Convergence Investment Partners LLC lifted its holdings in shares of Invesco Ltd. (NYSE:IVZ - Free Report) by 30.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 178,323 shares of the asset manager's stock after purchasing an additional 41,858 shares during the quarter. Convergence Investment Partners LLC's holdings in Invesco were worth $4,331,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. SJS Investment Consulting Inc. grew its position in Invesco by 80.1% during the first quarter. SJS Investment Consulting Inc. now owns 1,207 shares of the asset manager's stock worth $29,000 after buying an additional 537 shares in the last quarter. American National Bank & Trust bought a new stake in shares of Invesco during the 4th quarter valued at $31,000. Larson Financial Group LLC lifted its position in shares of Invesco by 61.5% during 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 during the period. Torren Management LLC acquired a new stake in shares of Invesco during the 4th quarter worth $44,000. Finally, Root Financial Partners LLC grew its holdings in shares of Invesco by 28.2% during 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 in the last quarter. 66.09% of the stock is currently owned by institutional investors and hedge funds.

Invesco Stock Performance

NYSE:IVZ opened at $29.67 on Tuesday. Invesco Ltd. has a twelve month low of $20.00 and a twelve month high of $31.02. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 1.01. The stock's 50-day simple moving average is $27.80 and its 200 day simple moving average is $26.56. The firm has a market capitalization of $13.15 billion, a PE ratio of -20.18, a price-to-earnings-growth ratio of 0.48 and a beta of 1.62.

Invesco (NYSE:IVZ - Get Free Report) last issued its earnings results on Tuesday, April 28th. The asset manager reported $0.57 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.01). The business had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.27 billion. Invesco had a positive return on equity of 11.34% and a negative net margin of 6.11%.The firm's revenue was up 14.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.44 EPS. On average, analysts anticipate that Invesco Ltd. will post 2.78 EPS for the current fiscal year.

Invesco Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 2nd. Investors of record on Friday, May 15th were given a dividend of $0.215 per share. The ex-dividend date was Friday, May 15th. This represents a $0.86 dividend on an annualized basis and a yield of 2.9%. This is a positive change from Invesco's previous quarterly dividend of $0.21. Invesco's dividend payout ratio is currently -58.50%.

Analyst Ratings Changes

IVZ has been the subject of a number of analyst reports. The Goldman Sachs Group boosted their price target on Invesco from $27.00 to $30.00 and gave the company a "neutral" rating in a research note on Wednesday, April 29th. Evercore set a $32.00 price objective on shares of Invesco in a research note on Friday, July 10th. Jefferies Financial Group raised shares of Invesco to a "hold" rating in a report on Tuesday, June 30th. Argus reaffirmed a "hold" rating on shares of Invesco in a report on Wednesday, April 29th. Finally, Morgan Stanley increased their price target on shares of Invesco from $29.00 to $30.00 and gave the stock an "equal weight" rating in a research report on Friday. Four analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $29.15.

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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