Engineers Gate Manager LP Grows Stock Holdings in Invesco Ltd. $IVZ

Key Points

• Engineers Gate Manager LP increased its Invesco stake by 47% in the second quarter, adding 433,287 shares to own 1.35 million shares valued at approximately $35.7 million. Institutional investors collectively hold 66.09% of Invesco’s stock.
• Invesco exceeded quarterly expectations with earnings of $0.71 per share versus the $0.67 consensus, while revenue rose 20.5% year over year to $1.33 billion. The company also maintains a quarterly dividend of $0.215 per share, equivalent to a 2.7% yield.
• Despite a recent CFO sale of 31,075 shares, analysts remain broadly cautious, with a consensus “Hold” rating and an average price target of $31.46, below the reported share price of $32.13.

Engineers Gate Manager LP lifted its holdings in Invesco Ltd. (NYSE:IVZ - Free Report) by 47.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,354,613 shares of the asset manager's stock after acquiring an additional 433,287 shares during the quarter. Engineers Gate Manager LP owned 0.31% of Invesco worth $35,748,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. California State Teachers Retirement System lifted its holdings in shares of Invesco by 23.4% in the 1st quarter. California State Teachers Retirement System now owns 417,476 shares of the asset manager's stock valued at $10,140,000 after buying an additional 79,273 shares during the period. Teachers Retirement System of The State of Kentucky boosted its stake in shares of Invesco by 2,633.1% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 960,441 shares of the asset manager's stock worth $23,330,000 after buying an additional 925,300 shares during the last quarter. Sonoma Allocations LLC acquired a new stake in Invesco during the second quarter worth about $11,797,000. Principal Financial Group Inc. grew its holdings in Invesco by 5.5% during the first quarter. Principal Financial Group Inc. now owns 824,547 shares of the asset manager's stock worth $20,028,000 after acquiring an additional 43,322 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in Invesco by 5.6% during the first quarter. Bank of New York Mellon Corp now owns 3,431,694 shares of the asset manager's stock worth $83,356,000 after acquiring an additional 182,060 shares during the period. Hedge funds and other institutional investors own 66.09% of the company's stock.

Insider Buying and Selling at Invesco

In related news, CFO Laura Dukes sold 31,075 shares of the firm's stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $33.16, for a total value of $1,030,447.00. Following the transaction, the chief financial officer directly owned 259,183 shares of the company's stock, valued at approximately $8,594,508.28. This trade represents a 10.71% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.40% of the stock is currently owned by company insiders.

Invesco Price Performance

Shares of NYSE IVZ opened at $32.13 on Thursday. The firm has a market cap of $14.24 billion, a PE ratio of -47.25, a PEG ratio of 0.47 and a beta of 1.63. The firm has a fifty day moving average of $30.81 and a 200 day moving average of $27.62. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.31 and a current ratio of 1.31. Invesco Ltd. has a one year low of $20.67 and a one year high of $33.66.

Invesco (NYSE:IVZ - Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The asset manager reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.04. Invesco had a negative net margin of 0.93% and a positive return on equity of 12.83%. The business had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same period last year, the firm posted $0.36 earnings per share. The company's revenue was up 20.5% compared to the same quarter last year. As a group, research analysts predict that Invesco Ltd. will post 2.82 EPS for the current fiscal year.

Invesco Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Investors of record on Friday, August 14th were given a dividend of $0.215 per share. This represents a $0.86 annualized dividend and a dividend yield of 2.7%. The ex-dividend date was Friday, August 14th. Invesco's dividend payout ratio is -126.47%.

Analyst Ratings Changes

Several equities research analysts have commented on IVZ shares. Weiss Ratings upgraded Invesco from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, June 29th. Jefferies Financial Group raised shares of Invesco to a "hold" rating in a report on Tuesday, June 30th. Keefe, Bruyette & Woods started coverage on shares of Invesco in a report on Wednesday. They set an "outperform" rating and a $39.00 price target on the stock. Barclays lifted their price objective on shares of Invesco from $31.00 to $32.00 and gave the company an "equal weight" rating in a report on Wednesday, July 29th. Finally, Evercore set a $35.00 target price on shares of Invesco in a research note on Monday, August 10th. Four investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $31.46.

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.

Want to see what other hedge funds are holding IVZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Invesco Ltd. (NYSE:IVZ - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.