18,223 Shares in Invesco Ltd. (NYSE:IVZ) Bought by iA Global Asset Management Inc.

Key Points

• iA Global Asset Management Inc. acquired 18,223 shares of Invesco Ltd. (NYSE: IVZ), valued at approximately $276,000, during the first quarter, as reported in their SEC filing.
• Institutional investors now hold 66.09% of Invesco's stock, indicating substantial institutional interest in the company.
• Invesco's recent earnings report showed a miss in earnings per share (EPS) at $0.36 compared to analyst expectations of $0.41, although revenue slightly surpassed estimates at $1.10 billion.

iA Global Asset Management Inc. bought a new stake in Invesco Ltd. (NYSE:IVZ - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 18,223 shares of the asset manager's stock, valued at approximately $276,000.

Several other institutional investors and hedge funds have also made changes to their positions in IVZ. JPMorgan Chase & Co. increased its position in Invesco by 17.1% during the 4th quarter. JPMorgan Chase & Co. now owns 1,285,609 shares of the asset manager's stock worth $22,472,000 after purchasing an additional 188,041 shares during the period. New York State Teachers Retirement System grew its holdings in shares of Invesco by 8.5% in the 1st quarter. New York State Teachers Retirement System now owns 405,269 shares of the asset manager's stock worth $6,148,000 after acquiring an additional 31,643 shares during the period. Principal Financial Group Inc. grew its holdings in shares of Invesco by 177.3% in the 1st quarter. Principal Financial Group Inc. now owns 1,398,364 shares of the asset manager's stock worth $21,213,000 after acquiring an additional 894,105 shares during the period. Nisa Investment Advisors LLC grew its holdings in shares of Invesco by 25.7% in the 1st quarter. Nisa Investment Advisors LLC now owns 199,155 shares of the asset manager's stock worth $3,021,000 after acquiring an additional 40,665 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Invesco by 24.0% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 19,488 shares of the asset manager's stock worth $296,000 after acquiring an additional 3,778 shares during the period. 66.09% of the stock is owned by hedge funds and other institutional investors.

Invesco Stock Up 2.8%

Invesco stock traded up $0.58 during mid-day trading on Tuesday, hitting $21.03. 1,340,652 shares of the company's stock were exchanged, compared to its average volume of 5,700,457. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.88. The stock has a market cap of $9.38 billion, a P/E ratio of 22.61, a P/E/G ratio of 1.13 and a beta of 1.55. Invesco Ltd. has a 1-year low of $11.60 and a 1-year high of $21.85. The stock has a 50 day moving average of $17.50 and a two-hundred day moving average of $16.22.

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

Invesco Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Thursday, August 14th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend is Thursday, August 14th. Invesco's dividend payout ratio (DPR) is currently 90.32%.

Wall Street Analysts Forecast Growth

IVZ has been the topic of a number of recent research reports. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $16.00 target price (up previously from $14.00) on shares of Invesco in a research note on Thursday, July 10th. Barclays boosted their price objective on Invesco from $17.00 to $22.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 23rd. Morgan Stanley boosted their price objective 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 boosted their price objective on Invesco from $13.00 to $15.00 and gave the stock an "in-line" rating in a research report on Wednesday, April 23rd. Finally, Wells Fargo & Company raised Invesco from an "underweight" rating to an "equal weight" rating and boosted their target price for the stock from $14.50 to $18.00 in a report on Friday, July 11th. Fourteen analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $18.78.

About Invesco

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.