Invesco Ltd. $IVZ Shares Bought by KLP Kapitalforvaltning AS

Key Points

• KLP Kapitalforvaltning AS has increased its holdings in Invesco Ltd. by 46.1%, now owning 96,300 shares valued at approximately $1.52 million.
• Invesco's stock has shown a 3.7% increase recently, with a current market price of $23.30 and a market capitalization of $10.39 billion.
• Invesco reported a quarterly earnings per share (EPS) of $0.36, which was below the expected $0.41, but its revenue increased by 2.2% year-over-year to reach $1.10 billion.

KLP Kapitalforvaltning AS boosted its holdings in shares of Invesco Ltd. (NYSE:IVZ - Free Report) by 46.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 96,300 shares of the asset manager's stock after buying an additional 30,400 shares during the period. KLP Kapitalforvaltning AS's holdings in Invesco were worth $1,519,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Jump Financial LLC increased its position in Invesco by 30.2% during the 1st quarter. Jump Financial LLC now owns 231,218 shares of the asset manager's stock valued at $3,508,000 after buying an additional 53,608 shares in the last quarter. New York State Teachers Retirement System increased its holdings in shares of Invesco by 8.5% in the first quarter. New York State Teachers Retirement System now owns 405,269 shares of the asset manager's stock valued at $6,148,000 after purchasing an additional 31,643 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Invesco by 177.3% in the first quarter. Principal Financial Group Inc. now owns 1,398,364 shares of the asset manager's stock valued at $21,213,000 after purchasing an additional 894,105 shares during the period. Nisa Investment Advisors LLC increased its holdings in shares of Invesco by 25.7% in the first quarter. Nisa Investment Advisors LLC now owns 199,155 shares of the asset manager's stock valued at $3,021,000 after purchasing an additional 40,665 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Invesco by 24.0% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 19,488 shares of the asset manager's stock valued at $296,000 after purchasing an additional 3,778 shares during the period. 66.09% of the stock is owned by institutional investors and hedge funds.

Invesco Stock Up 3.7%

Shares of IVZ opened at $23.30 on Tuesday. 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 Ltd. has a 12 month low of $11.60 and a 12 month high of $24.54. The stock's 50 day moving average is $22.13 and its two-hundred day moving average is $17.85. The firm has a market cap of $10.39 billion, a P/E ratio of 25.05, a PEG ratio of 1.10 and a beta of 1.66.

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

Invesco Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Thursday, August 14th were paid a $0.21 dividend. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.6%. Invesco's payout ratio is currently 90.32%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Wells Fargo & Company raised Invesco from an "underweight" rating to an "equal weight" rating and increased their price objective for the company from $14.50 to $18.00 in a report on Friday, July 11th. Evercore ISI increased their price objective on Invesco from $24.00 to $26.00 and gave the company an "in-line" rating in a report on Thursday, October 9th. BMO Capital Markets assumed coverage on Invesco in a report on Friday, October 3rd. They issued an "outperform" rating and a $28.00 price objective on the stock. Morgan Stanley reissued a "positive" rating on shares of Invesco in a report on Monday, October 6th. Finally, The Goldman Sachs Group raised their target price on Invesco from $16.25 to $16.75 and gave the stock a "neutral" rating in a report on Friday, June 27th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and thirteen have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $21.72.

Insider Activity

In other news, Director Stephanie Butcher sold 103,192 shares of Invesco stock in a transaction that occurred 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 sale, the director directly owned 29,855 shares of the company's stock, valued at $660,392.60. The trade was a 77.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.21% of the stock is owned by corporate insiders.

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.

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