NewEdge Advisors LLC Acquires 59,651 Shares of Invesco Ltd. $IVZ

Key Points

• NewEdge Advisors increased its Invesco stake by 759.7% in the first quarter, purchasing 59,651 additional shares for a total holding of 67,503 shares valued at $1.64 million. Institutional investors collectively own 66.09% of IVZ.
• Analysts maintain a generally neutral view, with an average rating of “Hold” and a consensus price target of $30.88, despite several firms raising their targets.
• Invesco exceeded quarterly earnings expectations, reporting $0.71 in adjusted EPS versus $0.67 expected and revenue of $1.33 billion. The company also declared a quarterly dividend of $0.215 per share, equal to an annualized yield of approximately 2.6%.

NewEdge Advisors LLC grew its holdings in Invesco Ltd. (NYSE:IVZ - Free Report) by 759.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 67,503 shares of the asset manager's stock after buying an additional 59,651 shares during the period. NewEdge Advisors LLC's holdings in Invesco were worth $1,640,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. California State Teachers Retirement System grew its stake in Invesco by 23.4% in the 1st quarter. California State Teachers Retirement System now owns 417,476 shares of the asset manager's stock valued at $10,140,000 after buying an additional 79,273 shares during the last quarter. Vanguard Group Inc. lifted its position in Invesco by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 52,965,761 shares of the asset manager's stock worth $1,391,411,000 after acquiring an additional 947,693 shares during the last quarter. F m Investments LLC acquired a new stake in Invesco during the fourth quarter worth approximately $1,593,000. Teachers Retirement System of The State of Kentucky lifted its position in Invesco by 2,633.1% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 960,441 shares of the asset manager's stock worth $23,330,000 after acquiring an additional 925,300 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in shares of Invesco by 5.5% during the first quarter. Principal Financial Group Inc. now owns 824,547 shares of the asset manager's stock worth $20,028,000 after acquiring an additional 43,322 shares during the period. 66.09% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on IVZ. TD Cowen upped their target price on Invesco from $37.00 to $39.00 and gave the company a "buy" rating in a research report on Thursday. JPMorgan Chase & Co. lifted their price target on Invesco from $29.00 to $29.50 and gave the stock a "neutral" rating in a report on Wednesday, July 29th. Morgan Stanley boosted their price target on Invesco from $29.00 to $30.00 and gave the company an "equal weight" rating in a research note on Friday, July 17th. Barclays upped their price objective on Invesco from $31.00 to $32.00 and gave the company an "equal weight" rating in a report on Wednesday, July 29th. Finally, The Goldman Sachs Group increased their price objective on Invesco from $27.00 to $30.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and eleven have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $30.88.

Invesco Stock Performance

Shares of NYSE:IVZ opened at $32.54 on Friday. Invesco Ltd. has a 12-month low of $20.48 and a 12-month high of $32.66. The company's 50 day moving average price is $29.05 and its two-hundred day moving average price is $26.91. The firm has a market cap of $14.43 billion, a PE ratio of -47.85, a PEG ratio of 0.52 and a beta of 1.62. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 1.00.

Invesco (NYSE:IVZ - Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The asset manager reported $0.71 earnings per share for the quarter, beating analysts' consensus estimates of $0.67 by $0.04. The company had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.32 billion. Invesco had a negative net margin of 0.93% and a positive return on equity of 12.83%. The firm's quarterly revenue was up 20.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.36 earnings per share. Equities research analysts predict that Invesco Ltd. will post 2.82 earnings per share for the current year.

Invesco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Friday, August 14th will be paid a dividend of $0.215 per share. This represents a $0.86 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Friday, August 14th. Invesco's dividend payout ratio (DPR) is -126.47%.

Invesco 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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