Delta Global Management LP Sells 214,339 Shares of Invesco Ltd. $IVZ

Key Points

• Delta Global Management LP reduced its Invesco stake by 16.0% in the first quarter, selling 214,339 shares and leaving it with 1,122,257 shares worth about $27.3 million.
• Institutional ownership remains significant, with hedge funds and other investors controlling about 66.09% of Invesco’s stock, while several firms either increased or initiated positions during the period.
• Analysts are cautious overall: Invesco currently carries a consensus Hold rating and an average price target of $29.31, even as the stock recently traded near $29.91 and the company raised its quarterly dividend to $0.215 per share.

Delta Global Management LP lessened its position in shares of Invesco Ltd. (NYSE:IVZ - Free Report) by 16.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,122,257 shares of the asset manager's stock after selling 214,339 shares during the period. Invesco makes up about 2.2% of Delta Global Management LP's portfolio, making the stock its 12th largest holding. Delta Global Management LP owned approximately 0.25% of Invesco worth $27,260,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in IVZ. Integrated Wealth Concepts LLC acquired a new position in Invesco during the first quarter valued at approximately $563,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Invesco by 7.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,767 shares of the asset manager's stock valued at $543,000 after purchasing an additional 2,393 shares during the last quarter. Woodline Partners LP raised its holdings in shares of Invesco by 40.2% during the 1st quarter. Woodline Partners LP now owns 37,850 shares of the asset manager's stock worth $574,000 after buying an additional 10,859 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Invesco by 1.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,046,667 shares of the asset manager's stock worth $15,878,000 after buying an additional 12,685 shares in the last quarter. Finally, Baird Financial Group Inc. lifted its position in shares of Invesco by 6.6% during the 2nd quarter. Baird Financial Group Inc. now owns 102,407 shares of the asset manager's stock worth $1,615,000 after buying an additional 6,341 shares during the last quarter. Institutional investors and hedge funds own 66.09% of the company's stock.

Analysts Set New Price Targets

IVZ has been the topic of several research analyst reports. Weiss Ratings raised Invesco from a "hold (c-)" rating to a "hold (c)" rating in a research note on Monday, June 29th. BMO Capital Markets dropped their target price on shares of Invesco from $32.00 to $28.00 and set an "outperform" rating for the company in a report on Friday, April 10th. The Goldman Sachs Group raised their price target on shares of Invesco from $27.00 to $30.00 and gave the company a "neutral" rating in a research note on Wednesday, April 29th. Morgan Stanley lifted their price target on shares of Invesco from $29.00 to $30.00 and gave the company an "equal weight" rating in a report on Friday, July 17th. Finally, Jefferies Financial Group upgraded shares of Invesco to a "hold" rating in a research report on Tuesday, June 30th. Four research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $29.31.

Invesco Stock Up 0.4%

NYSE:IVZ opened at $29.91 on Friday. The firm's 50 day simple moving average is $27.98 and its 200 day simple moving average is $26.66. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.45 and a quick ratio of 1.45. Invesco Ltd. has a one year low of $20.08 and a one year high of $31.02. The company has a market cap of $13.26 billion, a PE ratio of -20.34, a P/E/G ratio of 0.49 and a beta of 1.62.

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

Invesco Increases Dividend

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

Invesco Company 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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