Goldman Sachs Group Inc. Increases Stock Position in Invesco Ltd. $IVZ

Key Points

• Goldman Sachs Group Inc. increased its stake in Invesco Ltd. by 99.6%, owning approximately 7 million shares valued at $106.6 million as of the latest SEC filing.
• Invesco reported a missed EPS of $0.36 for the last quarter, falling short of analysts' expectations of $0.41, despite a 2.2% year-over-year revenue increase.
• The company announced a quarterly dividend of $0.21 per share, resulting in an annualized yield of 3.7% and a payout ratio of 90.32%.

Goldman Sachs Group Inc. grew its stake in shares of Invesco Ltd. (NYSE:IVZ - Free Report) by 99.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,026,920 shares of the asset manager's stock after acquiring an additional 3,507,150 shares during the quarter. Goldman Sachs Group Inc. owned about 1.57% of Invesco worth $106,598,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in IVZ. Federated Hermes Inc. boosted 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 valued at $30,000 after acquiring an additional 1,282 shares during the last quarter. SVB Wealth LLC purchased a new stake in shares of Invesco during the 1st quarter valued at about $32,000. Summit Securities Group LLC purchased a new stake in shares of Invesco during the 1st quarter valued at about $41,000. Versant Capital Management Inc boosted 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 valued at $47,000 after acquiring an additional 2,234 shares during the last quarter. Finally, Curat Global LLC purchased a new stake in shares of Invesco during the 1st quarter valued at about $49,000. Hedge funds and other institutional investors own 66.09% of the company's stock.

Invesco Price Performance

NYSE IVZ opened at $22.43 on Friday. Invesco Ltd. has a 12 month low of $11.60 and a 12 month high of $22.78. The stock has a market cap of $10.00 billion, a price-to-earnings ratio of 24.12, a PEG ratio of 1.26 and a beta of 1.58. The company's 50 day moving average is $20.61 and its two-hundred day moving average is $16.78. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.88.

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 analysts' consensus estimates of $0.41 by ($0.05). Invesco had a return on equity of 8.60% and a net margin of 10.68%.The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter in the previous year, the business posted $0.43 EPS. Invesco's revenue was up 2.2% on a year-over-year basis. As a group, research analysts anticipate that Invesco Ltd. will post 1.87 earnings per share for the current year.

Invesco Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Thursday, August 14th were paid 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 yield of 3.7%. Invesco's dividend payout ratio (DPR) is presently 90.32%.

Insider Buying and Selling

In other Invesco news, Director Stephanie Butcher sold 103,192 shares of the stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $22.12, for a total transaction of $2,282,607.04. Following the completion of the sale, the director directly owned 29,855 shares of the company's stock, valued at $660,392.60. This trade represents a 77.56% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.21% of the company's stock.

Wall Street Analysts Forecast Growth

IVZ has been the topic of several recent research reports. Barclays increased their price objective on shares of Invesco from $17.00 to $22.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 23rd. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $16.00 price objective (up previously from $14.00) on shares of Invesco in a research note on Thursday, July 10th. Zacks Research upgraded shares of Invesco to a "hold" rating in a research note on Tuesday, August 12th. The Goldman Sachs Group increased their price objective on shares of Invesco from $16.25 to $16.75 and gave the stock a "neutral" rating in a research note on Friday, June 27th. Finally, TD Cowen upgraded shares of Invesco from a "hold" rating to a "buy" rating and increased their price objective for the stock from $17.50 to $25.00 in a research note on Monday, July 21st. Three equities research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company. According to MarketBeat.com, Invesco currently has an average 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.

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