Invesco Ltd. $IVZ Shares Sold by Pallas Capital Advisors LLC

Key Points

• Pallas Capital Advisors LLC reduced its holdings in Invesco Ltd. by 31.7% during the 2nd quarter, now owning 35,985 shares valued at approximately $567,000.
• Analysts have provided mixed ratings for Invesco, with four analysts giving a Buy rating and thirteen assigning a Hold rating, and a consensus price target of $19.38.
• Invesco announced a quarterly dividend of $0.21 per share with a yield of 3.7%, and the company reported earnings of $0.36 per share, missing estimates by $0.05.

Pallas Capital Advisors LLC cut its position in shares of Invesco Ltd. (NYSE:IVZ - Free Report) by 31.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 35,985 shares of the asset manager's stock after selling 16,666 shares during the period. Pallas Capital Advisors LLC's holdings in Invesco were worth $567,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. AQR Capital Management LLC boosted its holdings in Invesco by 35.4% during the first quarter. AQR Capital Management LLC now owns 11,028,524 shares of the asset manager's stock worth $165,262,000 after buying an additional 2,882,928 shares in the last quarter. Northern Trust Corp boosted its holdings in Invesco by 11.3% during the first quarter. Northern Trust Corp now owns 7,083,410 shares of the asset manager's stock worth $107,455,000 after buying an additional 721,947 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in Invesco by 99.6% during the first quarter. Goldman Sachs Group Inc. now owns 7,026,920 shares of the asset manager's stock worth $106,598,000 after buying an additional 3,507,150 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in Invesco by 9.5% during the first quarter. Alliancebernstein L.P. now owns 6,985,352 shares of the asset manager's stock worth $105,968,000 after buying an additional 605,161 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Invesco by 0.7% during 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 buying an additional 29,613 shares in the last quarter. 66.09% of the stock is owned by hedge funds and other institutional investors.

Invesco Trading Up 0.2%

Shares of Invesco stock traded up $0.04 on Tuesday, reaching $22.61. The company had a trading volume of 2,106,839 shares, compared to its average volume of 5,424,875. The firm's 50 day moving average price is $21.25 and its two-hundred day moving average price is $17.03. The firm has a market cap of $10.08 billion, a PE ratio of 24.34, a PEG ratio of 1.27 and a beta of 1.58. Invesco Ltd. has a 52-week low of $11.60 and a 52-week high of $22.99. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.30 and a current ratio of 1.30.

Invesco (NYSE:IVZ - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The asset manager reported $0.36 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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%. Invesco's revenue was up 2.2% on a year-over-year basis. During the same period last year, the firm posted $0.43 earnings per share. Sell-side analysts predict that Invesco Ltd. will post 1.87 earnings per share for the current fiscal year.

Invesco Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Thursday, August 14th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend was Thursday, August 14th. Invesco's payout ratio is 90.32%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. The Goldman Sachs Group increased their price objective on shares of Invesco from $16.25 to $16.75 and gave the company a "neutral" rating in a report on Friday, June 27th. TD Cowen raised shares of Invesco from a "hold" rating to a "buy" rating and increased their price objective for the company from $17.50 to $25.00 in a report on Monday, July 21st. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $16.00 price objective (up from $14.00) on shares of Invesco in a report on Thursday, July 10th. Cowen reaffirmed a "buy" rating on shares of Invesco in a report on Thursday, September 18th. Finally, Wells Fargo & Company raised shares of Invesco from an "underweight" rating to an "equal weight" rating and increased their price objective for the company from $14.50 to $18.00 in a report on Friday, July 11th. Four research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $19.38.

Insider Activity

In other news, Director Stephanie Butcher sold 103,192 shares of the business's stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $22.12, for a total value of $2,282,607.04. Following the sale, the director directly owned 29,855 shares of the company's stock, valued at approximately $660,392.60. The trade was a 77.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.21% of the company's stock.

Invesco Profile

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.