Keynote Financial Services LLC Takes Position in Invesco Ltd. (NYSE:IVZ)

Key Points

• Keynote Financial Services LLC acquired a new stake in Invesco Ltd. during the 1st quarter, purchasing 12,091 shares valued at approximately $183,000.
• Several institutional investors have modified their holdings in Invesco, with significant increases from Bank of Nova Scotia (up 25.6%) and R Squared Ltd (up 36.1%).
• Invesco recently announced a quarterly dividend of $0.21 per share, resulting in an annualized dividend yield of 4.0% and a payout ratio of 90.32%.

Keynote Financial Services LLC acquired a new stake in Invesco Ltd. (NYSE:IVZ - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 12,091 shares of the asset manager's stock, valued at approximately $183,000.

Several other institutional investors and hedge funds have also modified their holdings of IVZ. Charles Schwab Investment Management Inc. increased its stake in shares of 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 valued at $67,551,000 after purchasing an additional 29,613 shares in the last quarter. iA Global Asset Management Inc. purchased a new position in shares of Invesco in the 1st quarter valued at about $276,000. ABC Arbitrage SA purchased a new position in shares of Invesco in the 1st quarter valued at about $513,000. Bank of Nova Scotia increased its stake in shares of Invesco by 25.6% in the 1st quarter. Bank of Nova Scotia now owns 490,827 shares of the asset manager's stock valued at $7,446,000 after purchasing an additional 100,151 shares in the last quarter. Finally, R Squared Ltd increased its stake in shares of Invesco by 36.1% in the 1st quarter. R Squared Ltd now owns 12,680 shares of the asset manager's stock valued at $192,000 after purchasing an additional 3,360 shares in the last quarter. Institutional investors and hedge funds own 66.09% of the company's stock.

Analyst Ratings Changes

IVZ has been the subject of several recent analyst reports. Morgan Stanley lifted their price target on Invesco from $15.00 to $16.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 2nd. The Goldman Sachs Group lifted their price target on Invesco from $16.25 to $16.75 and gave the company a "neutral" rating in a research note on Friday, June 27th. JPMorgan Chase & Co. cut their price target on Invesco from $19.00 to $16.00 and set a "neutral" rating for the company in a research note on Wednesday, April 16th. Barclays lifted their price target on Invesco from $17.00 to $22.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 23rd. Finally, Royal Bank Of Canada reiterated a "sector perform" rating and issued a $16.00 price objective (up from $14.00) on shares of Invesco in a report on Thursday, July 10th. Fourteen investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $18.78.

Invesco Trading Down 0.3%

Shares of Invesco stock opened at $21.11 on Thursday. The stock has a market cap of $9.45 billion, a P/E ratio of 22.69, a P/E/G ratio of 1.15 and a beta of 1.55. The stock's 50 day simple moving average is $17.13 and its 200-day simple moving average is $16.17. Invesco Ltd. has a 1-year low of $11.60 and a 1-year high of $21.85. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.30 and a quick ratio of 1.37.

Invesco (NYSE:IVZ - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The asset manager reported $0.36 earnings per share 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 analyst estimates of $1.09 billion. Invesco had a return on equity of 8.60% and a net margin of 10.68%. The company's revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.43 earnings per share. Analysts predict that Invesco Ltd. will post 1.87 EPS for the current fiscal year.

Invesco Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Thursday, August 14th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 4.0%. The ex-dividend date is Thursday, August 14th. Invesco's payout ratio is currently 90.32%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.