Kaufman Rossin Wealth LLC Buys New Position in Invesco Ltd. $IVZ

Key Points

• Kaufman Rossin Wealth LLC has acquired a new position in Invesco Ltd., purchasing 14,790 shares valued at approximately $224,000 during the first quarter.
• Invesco recently reported an earnings per share of $0.36 for the latest quarter, falling short of analysts' expectations of $0.41, while revenue increased to $1.10 billion.
• The company announced a quarterly dividend of $0.21 per share, resulting in a 4.1% yield, with the next payout scheduled for September 2nd.

Kaufman Rossin Wealth LLC bought a new stake in Invesco Ltd. (NYSE:IVZ - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 14,790 shares of the asset manager's stock, valued at approximately $224,000.

Several other hedge funds also recently modified their holdings of IVZ. AQR Capital Management LLC raised its position in shares of Invesco by 38.5% in the fourth quarter. AQR Capital Management LLC now owns 8,145,596 shares of the asset manager's stock valued at $142,385,000 after buying an additional 2,264,551 shares during the last quarter. Northern Trust Corp grew its stake in Invesco by 11.3% in the 1st quarter. Northern Trust Corp now owns 7,083,410 shares of the asset manager's stock worth $107,455,000 after acquiring an additional 721,947 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Invesco by 0.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,452,945 shares of the asset manager's stock worth $67,551,000 after acquiring an additional 29,613 shares during the period. Two Sigma Advisers LP raised its holdings in Invesco by 14.1% in the 4th quarter. Two Sigma Advisers LP now owns 3,768,900 shares of the asset manager's stock valued at $65,880,000 after acquiring an additional 466,400 shares during the last quarter. Finally, Deutsche Bank AG raised its holdings in Invesco by 58.6% in the 4th quarter. Deutsche Bank AG now owns 3,334,598 shares of the asset manager's stock valued at $58,289,000 after acquiring an additional 1,232,359 shares during the last quarter. 66.09% of the stock is owned by institutional investors and hedge funds.

Invesco Stock Down 0.6%

IVZ opened at $20.6570 on Friday. Invesco Ltd. has a 1 year low of $11.60 and a 1 year high of $21.85. The firm has a 50 day moving average price of $18.52 and a 200 day moving average price of $16.38. 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 company has a market cap of $9.21 billion, a PE ratio of 22.21, a price-to-earnings-growth ratio of 1.18 and a beta of 1.55.

Invesco (NYSE:IVZ - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The asset manager reported $0.36 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.05). The company had revenue of $1.10 billion for the quarter, compared to analysts' expectations 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 in the previous year, the business posted $0.43 earnings per share. Sell-side analysts expect that Invesco Ltd. will post 1.87 earnings per share for the current year.

Invesco Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Thursday, August 14th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend is Thursday, August 14th. Invesco's dividend payout ratio is currently 90.32%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on IVZ shares. The Goldman Sachs Group raised their price objective on Invesco from $16.25 to $16.75 and gave the stock a "neutral" rating in a report on Friday, June 27th. Royal Bank Of Canada reissued a "sector perform" rating and issued a $16.00 price target (up from $14.00) on shares of Invesco in a research note on Thursday, July 10th. Barclays lifted their price target on Invesco from $17.00 to $22.00 and gave the company an "equal weight" rating in a report on Wednesday, July 23rd. Wells Fargo & Company upgraded shares of 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 report on Friday, July 11th. Finally, Zacks Research upgraded shares of Invesco to a "hold" rating in a report on Tuesday, August 12th. Two analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $18.78.

About Invesco

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.

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