Federation des caisses Desjardins du Quebec Raises Stock Position in Invesco Ltd. $IVZ

Key Points

• The Federation des caisses Desjardins du Quebec increased its stake in Invesco Ltd. by 14.6% to own a total of 120,403 shares, valued at approximately $1.83 million.
• Invesco reported earnings of $0.36 per share for the last quarter, which was $0.05 below analysts' expectations, despite revenues of $1.10 billion exceeding estimates.
• The company announced a quarterly dividend of $0.21 per share, yielding 3.8%, with a dividend payout ratio of 90.32%.

Federation des caisses Desjardins du Quebec grew its position in shares of Invesco Ltd. (NYSE:IVZ - Free Report) by 14.6% during the first quarter, according to its most recent filing with the SEC. The firm owned 120,403 shares of the asset manager's stock after acquiring an additional 15,360 shares during the period. Federation des caisses Desjardins du Quebec's holdings in Invesco were worth $1,827,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Federated Hermes Inc. grew its holdings in shares of Invesco by 186.6% during the 1st quarter. Federated Hermes Inc. now owns 1,969 shares of the asset manager's stock worth $30,000 after acquiring an additional 1,282 shares during the period. SVB Wealth LLC purchased a new position in shares of Invesco during the 1st quarter worth approximately $32,000. Colonial Trust Co SC purchased a new position in shares of Invesco during the 4th quarter worth approximately $38,000. Summit Securities Group LLC purchased a new position in shares of Invesco during the 1st quarter worth approximately $41,000. Finally, Versant Capital Management Inc grew its holdings in shares of Invesco by 264.1% during the 1st quarter. Versant Capital Management Inc now owns 3,080 shares of the asset manager's stock worth $47,000 after acquiring an additional 2,234 shares during the period. Hedge funds and other institutional investors own 66.09% of the company's stock.

Invesco Stock Performance

Shares of NYSE IVZ traded up $0.32 during midday trading on Thursday, hitting $22.48. 2,282,912 shares of the stock traded hands, compared to its average volume of 5,474,197. The firm has a 50-day moving average of $20.38 and a two-hundred day moving average of $16.71. The firm has a market capitalization of $10.02 billion, a P/E ratio of 24.17, a PEG ratio of 1.24 and a beta of 1.58. 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 Ltd. has a one year low of $11.60 and a one year high of $22.78.

Invesco (NYSE:IVZ - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $1.10 billion during the quarter, compared to analysts' expectations of $1.09 billion. Invesco had a return on equity of 8.60% and a net margin of 10.68%.The company's revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter last year, the company earned $0.43 earnings per share. On average, equities analysts forecast that Invesco Ltd. will post 1.87 EPS for the current fiscal year.

Invesco Announces Dividend

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

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. TD Cowen raised 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 report on Monday, July 21st. 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 report on Wednesday, July 2nd. Evercore ISI reissued a "positive" rating on shares of Invesco in a research report on Friday, September 5th. Zacks Research raised Invesco to a "hold" rating in a research report on Tuesday, August 12th. Finally, 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 report on Friday, June 27th. Three equities research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the stock. According to data from MarketBeat.com, Invesco currently has a consensus rating of "Hold" and an average target price of $19.38.

Invesco Company 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.