iA Global Asset Management Inc. Buys New Shares in Invesco Ltd. (NYSE:IVZ)

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. acquired a new stake in Invesco Ltd. (NYSE:IVZ - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm acquired 18,223 shares of the asset manager's stock, valued at approximately $276,000.

A number of other hedge funds have also recently bought and sold shares of IVZ. JPMorgan Chase & Co. boosted its position in Invesco by 17.1% in the 4th quarter. JPMorgan Chase & Co. now owns 1,285,609 shares of the asset manager's stock valued at $22,472,000 after buying an additional 188,041 shares during the last quarter. Franklin Resources Inc. boosted its position in Invesco by 49.8% in the 4th quarter. Franklin Resources Inc. now owns 191,441 shares of the asset manager's stock valued at $3,346,000 after buying an additional 63,664 shares during the last quarter. Resona Asset Management Co. Ltd. bought a new position in Invesco in the 4th quarter valued at $52,000. Russell Investments Group Ltd. boosted its position in Invesco by 23.3% in the 4th quarter. Russell Investments Group Ltd. now owns 105,194 shares of the asset manager's stock valued at $1,839,000 after buying an additional 19,904 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd boosted its position in Invesco by 180.5% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 2,379 shares of the asset manager's stock valued at $42,000 after buying an additional 1,531 shares during the last quarter. 66.09% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. 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. TD Cowen upgraded Invesco from a "hold" rating to a "buy" rating and raised their price target for the stock from $17.50 to $25.00 in a research report on Monday, July 21st. JPMorgan Chase & Co. reduced their price target on Invesco from $19.00 to $16.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 16th. Barclays raised their price target on Invesco from $17.00 to $22.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 23rd. Finally, Wells Fargo & Company upgraded Invesco from an "underweight" rating to an "equal weight" rating and raised their price target for the stock from $14.50 to $18.00 in a research report on Friday, July 11th. Fourteen equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Invesco currently has an average rating of "Hold" and a consensus price target of $18.78.

Invesco Stock Up 0.7%

Shares of Invesco stock traded up $0.15 during trading on Friday, reaching $20.72. The stock had a trading volume of 2,905,712 shares, compared to its average volume of 9,082,483. The company has a market capitalization of $9.27 billion, a price-to-earnings ratio of 22.28, a P/E/G ratio of 1.13 and a beta of 1.55. The stock has a fifty day moving average price of $17.38 and a two-hundred day moving average price of $16.21. Invesco Ltd. has a 52 week low of $11.60 and a 52 week high of $21.85. The company has a current ratio of 1.30, a quick ratio of 1.37 and a debt-to-equity ratio of 0.88.

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

Invesco Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Thursday, August 14th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date is Thursday, August 14th. Invesco's payout ratio is 90.32%.

Invesco 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.