Invesco Ltd. $IVZ Shares Sold by Parallax Volatility Advisers L.P.

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 stake in Invesco Ltd. (NYSE:IVZ - Free Report) by 91.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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 filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in IVZ. AQR Capital Management LLC grew its stake in shares of Invesco by 35.4% in the first quarter. AQR Capital Management LLC now owns 11,028,524 shares of the asset manager's stock worth $165,262,000 after acquiring an additional 2,882,928 shares during the period. Nuveen LLC bought a new stake in shares of Invesco in the first quarter worth approximately $29,138,000. Deutsche Bank AG grew its stake in shares of Invesco by 58.6% in the fourth quarter. Deutsche Bank AG now owns 3,334,598 shares of the asset manager's stock worth $58,289,000 after acquiring an additional 1,232,359 shares during the period. Jefferies Financial Group Inc. bought a new stake in Invesco during the first quarter valued at approximately $14,433,000. Finally, Principal Financial Group Inc. grew its position in Invesco by 177.3% during 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 buying an additional 894,105 shares during the period. 66.09% of the stock is currently owned by institutional investors.

Invesco Stock Down 0.4%

Invesco stock traded down $0.10 during midday trading on Friday, hitting $22.46. 1,261,049 shares of the company's stock were exchanged, compared to its average volume of 5,459,195. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.30 and a current ratio of 1.30. Invesco Ltd. has a 12 month low of $11.60 and a 12 month high of $22.78. The firm has a 50-day moving average of $20.50 and a two-hundred day moving average of $16.75. The company has a market cap of $10.01 billion, a PE ratio of 24.16, a P/E/G ratio of 1.24 and a beta of 1.58.

Invesco (NYSE:IVZ - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The asset manager reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.05). Invesco had a return on equity of 8.60% and a net margin of 10.68%.The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter in the previous year, the company earned $0.43 earnings per share. The firm's revenue was up 2.2% on a year-over-year basis. As a group, analysts expect 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 issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date was Thursday, August 14th. Invesco's dividend payout ratio (DPR) is currently 90.32%.

Insider Buying and Selling at Invesco

In related news, Director Stephanie Butcher sold 103,192 shares of Invesco 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 sale, the director directly owned 29,855 shares in the company, valued at $660,392.60. This trade represents a 77.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.21% of the company's stock.

Analyst Ratings Changes

IVZ has been the subject of several recent research reports. Barclays boosted their target price on shares of Invesco from $17.00 to $22.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 23rd. Evercore ISI restated a "positive" rating on shares of Invesco in a research report on Friday, September 5th. TD Cowen upgraded shares of Invesco from a "hold" rating to a "buy" rating and boosted their target price for the company from $17.50 to $25.00 in a research report on Monday, July 21st. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $16.00 price target (up from $14.00) on shares of Invesco in a research report on Thursday, July 10th. Finally, Morgan Stanley upped their price target on shares of Invesco from $15.00 to $16.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 2nd. Three analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $19.38.

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.