Invesco Ltd. $IVZ Stake Lifted by Bank of America Corp DE

Key Points

• Bank of America increased its Invesco stake by 28.9% in the first quarter, acquiring 595,797 additional shares and bringing its holdings to approximately 2.65 million shares worth $64.5 million.
• Invesco reported quarterly EPS of $0.71, beating estimates of $0.67, while revenue rose 20.5% year over year to $1.33 billion.
• The company declared a quarterly dividend of $0.215 per share, or $0.86 annualized, representing a 2.7% yield. Analysts maintain a consensus “Hold” rating with an average price target of $30.12.

Bank of America Corp DE lifted its stake in shares of Invesco Ltd. (NYSE:IVZ - Free Report) by 28.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,654,290 shares of the asset manager's stock after acquiring an additional 595,797 shares during the quarter. Bank of America Corp DE owned about 0.60% of Invesco worth $64,473,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in IVZ. Vanguard Group Inc. boosted its stake in Invesco by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 52,965,761 shares of the asset manager's stock valued at $1,391,411,000 after purchasing an additional 947,693 shares in the last quarter. State Street Corp raised its stake in shares of Invesco by 1.5% in the 2nd quarter. State Street Corp now owns 22,260,704 shares of the asset manager's stock worth $351,051,000 after buying an additional 332,340 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Invesco by 2.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 21,361,119 shares of the asset manager's stock worth $518,836,000 after buying an additional 596,434 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Invesco by 5.3% in the 2nd quarter. AQR Capital Management LLC now owns 11,612,559 shares of the asset manager's stock worth $182,491,000 after buying an additional 584,035 shares in the last quarter. Finally, Invesco Ltd. acquired a new stake in shares of Invesco in the fourth quarter valued at $230,391,000. Institutional investors own 66.09% of the company's stock.

Invesco Trading Up 0.5%

Shares of IVZ opened at $31.73 on Tuesday. The business's 50-day moving average price is $28.69 and its 200 day moving average price is $26.81. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 1.00. The stock has a market capitalization of $14.07 billion, a P/E ratio of -46.66, a P/E/G ratio of 0.51 and a beta of 1.62. Invesco Ltd. has a 1-year low of $20.41 and a 1-year high of $32.55.

Invesco (NYSE:IVZ - Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The asset manager reported $0.71 EPS for the quarter, beating 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 company had revenue of $1.33 billion during 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% on a year-over-year basis. Analysts expect that Invesco Ltd. will post 2.8 earnings per share for the current year.

Invesco Announces Dividend

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

Analysts Set New Price Targets

Several research analysts recently weighed in on IVZ shares. Jefferies Financial Group raised Invesco to a "hold" rating in a research note on Tuesday, June 30th. The Goldman Sachs Group boosted their price target on shares of Invesco from $27.00 to $30.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 29th. Wall Street Zen downgraded shares of Invesco from a "buy" rating to a "hold" rating in a report on Sunday. Argus restated a "hold" rating on shares of Invesco in a research report on Wednesday, April 29th. Finally, Morgan Stanley lifted their price objective on shares of Invesco from $29.00 to $30.00 and gave the stock an "equal weight" rating in a research note on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $30.12.

Invesco Company 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.

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