Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Invesco Ltd. (NYSE:IVZ - Free Report) by 36.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 458,190 shares of the asset manager's stock after acquiring an additional 123,239 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.10% of Invesco worth $6,951,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of the company. New York State Teachers Retirement System lifted its position in shares of Invesco by 8.5% during the 1st quarter. New York State Teachers Retirement System now owns 405,269 shares of the asset manager's stock worth $6,148,000 after buying an additional 31,643 shares during the period. Principal Financial Group Inc. increased its stake in shares of Invesco by 177.3% in the 1st quarter. Principal Financial Group Inc. now owns 1,398,364 shares of the asset manager's stock valued at $21,213,000 after buying an additional 894,105 shares during the period. Nisa Investment Advisors LLC grew its stake in shares of Invesco by 25.7% during the first quarter. Nisa Investment Advisors LLC now owns 199,155 shares of the asset manager's stock worth $3,021,000 after purchasing an additional 40,665 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Invesco by 24.0% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 19,488 shares of the asset manager's stock worth $296,000 after purchasing an additional 3,778 shares during the period. Finally, Teacher Retirement System of Texas acquired a new position in Invesco in the first quarter valued at about $843,000. Institutional investors own 66.09% of the company's stock.
Invesco Stock Down 1.2%
IVZ stock traded down $0.27 during mid-day trading on Friday, reaching $21.08. 2,018,169 shares of the company traded hands, compared to its average volume of 5,678,906. The stock has a market cap of $9.40 billion, a price-to-earnings ratio of 22.68, a P/E/G ratio of 1.17 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. Invesco Ltd. has a fifty-two week low of $11.60 and a fifty-two week high of $21.85. The firm's 50 day moving average price is $17.91 and its 200 day moving average price is $16.32.
Invesco (NYSE:IVZ - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The asset manager reported $0.36 earnings per share for the quarter, missing analysts' consensus estimates of $0.41 by ($0.05). Invesco had a return on equity of 8.60% and a net margin of 10.68%. The business had revenue of $1.10 billion during the quarter, compared to analysts' expectations of $1.09 billion. During the same quarter in the previous year, the firm earned $0.43 EPS. Invesco's quarterly revenue was up 2.2% on a year-over-year basis. As a group, equities research analysts predict that Invesco Ltd. will post 1.87 EPS for the current fiscal year.
Invesco Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Thursday, August 14th will be paid a $0.21 dividend. The ex-dividend date is Thursday, August 14th. This represents a $0.84 annualized dividend and a yield of 4.0%. Invesco's dividend payout ratio is presently 90.32%.
Wall Street Analyst Weigh In
Several analysts recently issued reports on the company. Royal Bank Of Canada reiterated a "sector perform" rating and set a $16.00 target price (up previously from $14.00) on shares of Invesco in a report on Thursday, July 10th. Wells Fargo & Company upgraded Invesco from an "underweight" rating to an "equal weight" rating and increased their target price for the stock from $14.50 to $18.00 in a research note on Friday, July 11th. TD Cowen upgraded Invesco from a "hold" rating to a "buy" rating and raised their price objective for the stock from $17.50 to $25.00 in a research note on Monday, July 21st. Morgan Stanley raised their target price on Invesco from $15.00 to $16.00 and gave the company an "equal weight" rating in a report on Wednesday, July 2nd. Finally, Barclays raised their price objective on Invesco from $17.00 to $22.00 and gave the company an "equal weight" rating in a report on Wednesday, July 23rd. Fourteen equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $18.78.
Check Out Our Latest Stock Analysis on Invesco
Invesco Company 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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