Parallax Volatility Advisers L.P. Cuts Stake in Invesco Ltd. $IVZ

Key Points

• Parallax Volatility Advisers L.P. reduced its stake in Invesco Ltd. by 91.1% during the first quarter, now holding 19,470 shares valued at approximately $295,000.
• Other institutional investors, including Jump Financial LLC and Principal Financial Group Inc., significantly increased their stakes in Invesco, indicating a mixed sentiment among hedge funds.
• Invesco reported $0.36 EPS for the last quarter, falling short of analysts' expectations, while also announcing a quarterly dividend of $0.21, reflecting a 3.8% dividend yield.

Parallax Volatility Advisers L.P. cut its position in shares of Invesco Ltd. (NYSE:IVZ - Free Report) by 91.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 19,470 shares of the asset manager's stock after selling 200,331 shares during the quarter. Parallax Volatility Advisers L.P.'s holdings in Invesco were worth $295,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. D.A. Davidson & CO. boosted its holdings in Invesco by 1.6% during the first quarter. D.A. Davidson & CO. now owns 47,462 shares of the asset manager's stock worth $720,000 after purchasing an additional 755 shares during the last quarter. EP Wealth Advisors LLC boosted its holdings in Invesco by 6.8% during the first quarter. EP Wealth Advisors LLC now owns 12,477 shares of the asset manager's stock worth $189,000 after purchasing an additional 792 shares during the last quarter. Brooklyn Investment Group boosted its holdings in Invesco by 17.1% during the first quarter. Brooklyn Investment Group now owns 5,465 shares of the asset manager's stock worth $83,000 after purchasing an additional 800 shares during the last quarter. CWM LLC raised its position in Invesco by 0.5% in the first quarter. CWM LLC now owns 163,434 shares of the asset manager's stock worth $2,479,000 after acquiring an additional 862 shares during the period. Finally, Resona Asset Management Co. Ltd. raised its position in Invesco by 33.5% in the first quarter. Resona Asset Management Co. Ltd. now owns 3,943 shares of the asset manager's stock worth $60,000 after acquiring an additional 990 shares during the period. 66.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Invesco news, Director Stephanie Butcher sold 103,192 shares of the business's stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $22.12, for a total value of $2,282,607.04. Following the completion of the transaction, the director owned 29,855 shares of the company's stock, valued at $660,392.60. The trade was a 77.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.21% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have commented on IVZ. The Goldman Sachs Group lifted their price objective on shares of Invesco from $16.25 to $16.75 and gave the stock a "neutral" rating in a research report on Friday, June 27th. Barclays lifted their price objective on shares of Invesco from $17.00 to $22.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 23rd. Evercore ISI reaffirmed a "positive" rating on shares of Invesco in a research report on Friday, September 5th. Zacks Research raised shares of Invesco to a "hold" rating in a research report on Tuesday, August 12th. Finally, TD Cowen raised shares of Invesco from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $17.50 to $25.00 in a research report on Monday, July 21st. Three analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $19.38.

Invesco Price Performance

Invesco stock traded down $0.12 during midday trading on Friday, reaching $22.43. 2,512,728 shares of the stock were exchanged, compared to its average volume of 3,525,523. The company's fifty day moving average is $20.61 and its 200-day moving average is $16.78. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.30 and a current ratio of 1.30. The firm has a market cap of $10.00 billion, a PE ratio of 24.12, a PEG ratio of 1.26 and a beta of 1.58. Invesco Ltd. has a 52 week low of $11.60 and a 52 week high of $22.78.

Invesco (NYSE:IVZ - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The asset manager reported $0.36 earnings per share for the quarter, missing analysts' consensus estimates of $0.41 by ($0.05). The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.09 billion. Invesco had a return on equity of 8.60% and a net margin of 10.68%.The business's revenue was up 2.2% on a year-over-year basis. During the same period last year, the company posted $0.43 EPS. On average, sell-side analysts forecast that Invesco Ltd. will post 1.87 EPS for the current year.

Invesco Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Thursday, August 14th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend was Thursday, August 14th. Invesco's payout ratio is currently 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.