Keynote Financial Services LLC purchased a new position in Invesco Ltd. (NYSE:IVZ - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 12,091 shares of the asset manager's stock, valued at approximately $183,000.
A number of other hedge funds have also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. grew its holdings in shares of Invesco by 0.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 4,452,945 shares of the asset manager's stock worth $67,551,000 after purchasing an additional 29,613 shares during the last quarter. iA Global Asset Management Inc. bought a new position in shares of Invesco in the first quarter worth about $276,000. ABC Arbitrage SA bought a new position in shares of Invesco in the first quarter worth about $513,000. Bank of Nova Scotia lifted its stake in Invesco by 25.6% in the first quarter. Bank of Nova Scotia now owns 490,827 shares of the asset manager's stock worth $7,446,000 after acquiring an additional 100,151 shares during the period. Finally, R Squared Ltd lifted its stake in Invesco by 36.1% in the first quarter. R Squared Ltd now owns 12,680 shares of the asset manager's stock worth $192,000 after acquiring an additional 3,360 shares during the period. 66.09% of the stock is currently owned by institutional investors.
Invesco Stock Performance
Shares of Invesco stock traded down $0.12 during midday trading on Monday, hitting $20.61. The company had a trading volume of 1,770,928 shares, compared to its average volume of 5,695,665. The stock has a market cap of $9.19 billion, a price-to-earnings ratio of 22.17, a PEG ratio of 1.13 and a beta of 1.55. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.88. The company has a fifty day simple moving average of $17.38 and a 200 day simple moving average of $16.20. Invesco Ltd. has a 12-month low of $11.60 and a 12-month high of $21.85.
Invesco (NYSE:IVZ - Get Free Report) last announced its quarterly earnings data 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 during 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 revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.43 earnings per share. As a group, analysts predict that Invesco Ltd. will post 1.87 earnings per share for the current fiscal year.
Invesco Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Thursday, August 14th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $0.84 dividend on an annualized basis and a yield of 4.1%. Invesco's dividend payout ratio (DPR) is currently 90.32%.
Wall Street Analysts Forecast Growth
IVZ has been the subject of a number of research reports. The Goldman Sachs Group upped their price objective on shares of Invesco from $16.25 to $16.75 and gave the stock a "neutral" rating in a research note on Friday, June 27th. Wells Fargo & Company raised shares of Invesco from an "underweight" rating to an "equal weight" rating and upped their price objective for the stock from $14.50 to $18.00 in a research note on Friday, July 11th. Barclays upped their price objective on shares of Invesco from $17.00 to $22.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 23rd. Morgan Stanley upped their price objective on shares of Invesco from $15.00 to $16.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 2nd. Finally, Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $16.00 price objective (up from $14.00) on shares of Invesco in a research note on Thursday, July 10th. Fourteen analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $18.78.
Check Out Our Latest Research Report on IVZ
Invesco Profile
(
Free Report)
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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