Invesco Ltd. $IVZ Shares Purchased by Goldman Sachs Group Inc.

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 position in shares of Invesco Ltd. (NYSE:IVZ - Free Report) by 99.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm 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 filing with the SEC.

Several other institutional investors have also bought and sold shares of the stock. AQR Capital Management LLC raised its holdings in Invesco by 35.4% during the 1st quarter. AQR Capital Management LLC now owns 11,028,524 shares of the asset manager's stock worth $165,262,000 after buying an additional 2,882,928 shares during the period. Nuveen LLC bought a new stake in Invesco during the first quarter worth approximately $29,138,000. Jefferies Financial Group Inc. acquired a new stake in shares of Invesco in the first quarter worth $14,433,000. Principal Financial Group Inc. lifted its position in Invesco by 177.3% in the first quarter. Principal Financial Group Inc. now owns 1,398,364 shares of the asset manager's stock worth $21,213,000 after purchasing an additional 894,105 shares during the period. Finally, Northern Trust Corp lifted its holdings in shares of Invesco by 11.3% during the first quarter. Northern Trust Corp now owns 7,083,410 shares of the asset manager's stock valued at $107,455,000 after acquiring an additional 721,947 shares during the period. Institutional investors and hedge funds own 66.09% of the company's stock.

Analyst Upgrades and Downgrades

IVZ has been the subject of a number of research reports. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $16.00 price objective (up from $14.00) on shares of Invesco in a research report on Thursday, July 10th. Morgan Stanley raised 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. Zacks Research upgraded Invesco to a "hold" rating in a research report on Tuesday, August 12th. Evercore ISI reiterated a "positive" rating on shares of Invesco in a report on Friday, September 5th. Finally, Wells Fargo & Company raised Invesco from an "underweight" rating to an "equal weight" rating and upped their target price for the stock from $14.50 to $18.00 in a research report on Friday, July 11th. Four research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $19.38.

Insider Buying and Selling

In other news, Director Stephanie Butcher sold 103,192 shares of Invesco stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $22.12, for a total value 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 approximately $660,392.60. The trade was a 77.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.21% of the company's stock.

Invesco Stock Performance

Invesco stock traded up $0.47 during mid-day trading on Thursday, reaching $22.64. 3,253,564 shares of the stock traded hands, compared to its average volume of 3,430,007. The business's 50-day moving average is $21.04 and its 200-day moving average is $16.92. Invesco Ltd. has a 12-month low of $11.60 and a 12-month high of $22.78. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.30 and a quick ratio of 1.30. The stock has a market capitalization of $10.10 billion, a PE ratio of 24.35, a price-to-earnings-growth ratio of 1.25 and a beta of 1.58.

Invesco (NYSE:IVZ - Get Free Report) last announced its quarterly 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 net margin of 10.68% and a return on equity of 8.60%. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the previous year, the company posted $0.43 earnings per share. Invesco's quarterly revenue was up 2.2% on a year-over-year basis. As a group, sell-side analysts predict that Invesco Ltd. will post 1.87 EPS for the current fiscal year.

Invesco Dividend Announcement

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

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.