Invesco Ltd. $IVZ Shares Sold by Wealthcare Capital Management LLC

Key Points

• Wealthcare Capital Management reduced its Invesco stake by 7.1% in the second quarter, selling 33,000 shares and retaining 432,545 shares worth approximately $11.4 million. Institutional investors and hedge funds collectively own 66.09% of IVZ.
• Invesco reported second-quarter adjusted earnings of $0.71 per share, beating analyst expectations of $0.67, while revenue rose 20.5% year over year to $1.33 billion.
• Analysts maintain a consensus “Hold” rating with an average price target of $29.88. Invesco also declared a quarterly dividend of $0.215 per share, equivalent to an annualized yield of approximately 2.7%.

Wealthcare Capital Management LLC lessened its stake in shares of Invesco Ltd. (NYSE:IVZ - Free Report) by 7.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 432,545 shares of the asset manager's stock after selling 33,000 shares during the quarter. Invesco accounts for about 1.1% of Wealthcare Capital Management LLC's holdings, making the stock its 14th biggest holding. Wealthcare Capital Management LLC owned approximately 0.10% of Invesco worth $11,415,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Root Financial Partners LLC lifted its holdings in shares of Invesco by 28.2% in the 4th quarter. Root Financial Partners LLC now owns 1,702 shares of the asset manager's stock worth $45,000 after acquiring an additional 374 shares during the last quarter. ANB Bank boosted its position in shares of Invesco by 3.1% during the 1st quarter. ANB Bank now owns 12,324 shares of the asset manager's stock worth $299,000 after purchasing an additional 375 shares during the period. Carrera Capital Advisors boosted its position in shares of Invesco by 3.7% during the 4th quarter. Carrera Capital Advisors now owns 11,467 shares of the asset manager's stock worth $301,000 after purchasing an additional 408 shares during the period. Vise Technologies Inc. increased its holdings in Invesco by 3.3% in the 4th quarter. Vise Technologies Inc. now owns 13,182 shares of the asset manager's stock valued at $346,000 after purchasing an additional 425 shares during the last quarter. Finally, EWA LLC increased its holdings in Invesco by 3.8% in the 1st quarter. EWA LLC now owns 12,490 shares of the asset manager's stock valued at $303,000 after purchasing an additional 452 shares during the last quarter. 66.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

IVZ has been the topic of a number of research reports. The Goldman Sachs Group upped their price target on Invesco from $27.00 to $30.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 29th. Royal Bank Of Canada lifted their price objective on Invesco from $33.00 to $35.00 and gave the company an "outperform" rating in a research note on Wednesday, July 29th. Evercore set a $32.00 price objective on Invesco in a report on Friday, July 10th. TD Cowen increased their target price on Invesco from $32.00 to $33.00 and gave the stock a "buy" rating in a research note on Monday, June 8th. Finally, Argus reissued a "hold" rating on shares of Invesco in a research note on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, Invesco currently has a consensus rating of "Hold" and a consensus price target of $29.88.

Invesco Stock Performance

Shares of IVZ opened at $31.59 on Monday. Invesco Ltd. has a 1 year low of $20.41 and a 1 year high of $32.55. The stock has a market capitalization of $14.01 billion, a PE ratio of -46.46, a PEG ratio of 0.51 and a beta of 1.62. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.31 and a current ratio of 1.31. The stock has a 50-day simple moving average of $28.61 and a 200-day simple moving average of $26.78.

Invesco (NYSE:IVZ - Get Free Report) last released its earnings results on Tuesday, July 28th. The asset manager reported $0.71 earnings per share for the quarter, topping analysts' consensus estimates of $0.67 by $0.04. Invesco had a negative net margin of 0.93% and a positive return on equity of 12.83%. The firm had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period in the prior year, the firm earned $0.36 earnings per share. The business's quarterly revenue was up 20.5% compared to the same quarter last year. On average, analysts predict that Invesco Ltd. will post 2.8 earnings per share for the current fiscal year.

Invesco Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Friday, August 14th will be given a $0.215 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $0.86 dividend on an annualized basis and a dividend yield of 2.7%. Invesco's dividend payout ratio is currently -126.47%.

Invesco Profile

Invesco Ltd. is an independent global investment management firm headquartered in Atlanta, Georgia, and publicly traded on the New York Stock Exchange NYSE: IVZ. With origins dating back to 1935, the company is dedicated to offering a wide array of investment strategies and solutions to both individual and institutional clients worldwide.

The firm's product suite encompasses actively managed equity and fixed income funds, passive index funds, exchange-traded funds (ETFs), closed-end funds, and unit investment trusts, alongside specialized offerings such as private markets, real estate, and structured products.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source