Teza Capital Management LLC Sells 80,856 Shares of Invesco Ltd. $IVZ

Key Points

• Teza Capital Management LLC significantly reduced its stake in Invesco Ltd. by 81.0%, selling 80,856 shares and ending with 19,013 shares valued at $288,000.
• AQR Capital Management, Northern Trust Corp, and AllianceBernstein each increased their holdings in Invesco, with AQR boosting its stake by 35.4% during the same period.
• Invesco reported a quarterly earnings per share (EPS) of $0.36, missing the estimate of $0.41, but had a revenue of $1.10 billion, slightly above expectations.

Teza Capital Management LLC reduced its position in Invesco Ltd. (NYSE:IVZ - Free Report) by 81.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,013 shares of the asset manager's stock after selling 80,856 shares during the quarter. Teza Capital Management LLC's holdings in Invesco were worth $288,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. UniSuper Management Pty Ltd lifted its position in Invesco by 16.9% in the first quarter. UniSuper Management Pty Ltd now owns 103,504 shares of the asset manager's stock worth $1,570,000 after purchasing an additional 14,959 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Invesco by 7.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,767 shares of the asset manager's stock worth $543,000 after acquiring an additional 2,393 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new position in Invesco during the first quarter worth $563,000. Hancock Whitney Corp raised its stake in Invesco by 121.9% during the first quarter. Hancock Whitney Corp now owns 107,466 shares of the asset manager's stock worth $1,630,000 after acquiring an additional 59,041 shares in the last quarter. Finally, Cinctive Capital Management LP acquired a new position in Invesco during the first quarter worth $4,664,000. 66.09% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on IVZ shares. Wells Fargo & Company upgraded Invesco from an "underweight" rating to an "equal weight" rating and increased their price objective for the stock from $14.50 to $18.00 in a research note on Friday, July 11th. Morgan Stanley increased their price objective on Invesco from $15.00 to $16.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 2nd. Barclays increased their price objective on Invesco from $17.00 to $22.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 23rd. Zacks Research upgraded Invesco to a "hold" rating in a research note on Tuesday, August 12th. Finally, Royal Bank Of Canada reiterated a "sector perform" rating and set a $16.00 price objective (up from $14.00) on shares of Invesco in a research note on Thursday, July 10th. Three investment analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $19.38.

Insider Transactions at Invesco

In related news, Director Stephanie Butcher sold 103,192 shares of the firm's stock in a transaction dated 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 transaction, the director owned 29,855 shares in the company, valued at $660,392.60. This trade represents a 77.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.21% of the stock is currently owned by corporate insiders.

Invesco Price Performance

Shares of NYSE:IVZ traded down $0.12 during midday trading on Friday, reaching $22.43. The company's stock had a trading volume of 2,512,728 shares, compared to its average volume of 5,467,112. Invesco Ltd. has a fifty-two week low of $11.60 and a fifty-two week high of $22.78. The company has a market capitalization of $10.00 billion, a P/E ratio of 24.12, a P/E/G ratio of 1.24 and a beta of 1.58. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.30 and a quick ratio of 1.30. The business's fifty day simple moving average is $20.50 and its 200-day simple moving average is $16.75.

Invesco (NYSE:IVZ - Get Free Report) last announced 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 business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.09 billion. Invesco had a net margin of 10.68% and a return on equity of 8.60%. The business's quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.43 earnings per share. As a group, equities research analysts expect 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 was paid on Tuesday, September 2nd. Investors of record on Thursday, August 14th were issued a $0.21 dividend. The ex-dividend date was Thursday, August 14th. This represents a $0.84 annualized dividend and a yield of 3.7%. Invesco's dividend payout ratio (DPR) is currently 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.