Park Avenue Securities LLC Takes Position in Invesco Ltd. $IVZ

Key Points

• Park Avenue Securities LLC has acquired a new position in Invesco Ltd. by purchasing 16,692 shares valued at approximately $263,000 during the second quarter.
• Recent analyst reports indicate a generally positive outlook for Invesco, with Morgan Stanley and Wells Fargo both raising their target prices, suggesting continued interest from institutional investors.
• Invesco's quarterly dividend of $0.21 per share represents a 3.6% yield and has a payout ratio of 90.32%, reflecting strong cash flow despite recent earnings misses.

Park Avenue Securities LLC bought a new position in shares of Invesco Ltd. (NYSE:IVZ - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 16,692 shares of the asset manager's stock, valued at approximately $263,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of IVZ. Federated Hermes Inc. raised its holdings in shares of Invesco by 186.6% during the first quarter. Federated Hermes Inc. now owns 1,969 shares of the asset manager's stock valued at $30,000 after acquiring an additional 1,282 shares during the last quarter. SVB Wealth LLC purchased a new stake in shares of Invesco during the first quarter worth approximately $32,000. Summit Securities Group LLC purchased a new stake in shares of Invesco during the first quarter worth approximately $41,000. UMB Bank n.a. raised its stake in Invesco by 45.8% in the 2nd quarter. UMB Bank n.a. now owns 2,623 shares of the asset manager's stock valued at $41,000 after purchasing an additional 824 shares during the last quarter. Finally, Versant Capital Management Inc lifted its holdings in Invesco by 264.1% in the 1st quarter. Versant Capital Management Inc now owns 3,080 shares of the asset manager's stock valued at $47,000 after purchasing an additional 2,234 shares in the last quarter. 66.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

IVZ has been the subject of a number of research reports. Morgan Stanley upped their target price on shares of Invesco from $15.00 to $16.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 2nd. Wells Fargo & Company raised shares of Invesco from an "underweight" rating to an "equal weight" rating and upped their price objective for the company from $14.50 to $18.00 in a research note on Friday, July 11th. Evercore ISI reiterated a "positive" rating on shares of Invesco in a report on Friday, September 5th. Citigroup boosted their target price on Invesco from $22.00 to $25.00 and gave the stock a "neutral" rating in a report on Monday. Finally, Zacks Research upgraded Invesco to a "hold" rating in a research report on Tuesday, August 12th. Four research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company. According to MarketBeat, Invesco currently has an average rating of "Hold" and an average price target of $19.98.

Insider Transactions at Invesco

In other news, Director Stephanie Butcher sold 103,192 shares of the stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $22.12, for a total transaction of $2,282,607.04. Following the sale, the director owned 29,855 shares of the company's stock, valued at approximately $660,392.60. This represents a 77.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.21% of the stock is owned by company insiders.

Invesco Stock Up 0.8%

Invesco stock opened at $23.13 on Thursday. The company has a market capitalization of $10.31 billion, a PE ratio of 24.87, a price-to-earnings-growth ratio of 1.30 and a beta of 1.66. 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 Ltd. has a fifty-two week low of $11.60 and a fifty-two week high of $23.20. The firm has a 50 day moving average price of $21.75 and a 200 day moving average price of $17.37.

Invesco (NYSE:IVZ - Get Free Report) last released its quarterly earnings results 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 firm had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $1.09 billion. Invesco had a return on equity of 8.60% and a net margin of 10.68%.The company's quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.43 earnings per share. Research analysts expect that Invesco Ltd. will post 1.87 earnings per share for the current year.

Invesco Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Thursday, August 14th were paid a dividend of $0.21 per share. The ex-dividend date was Thursday, August 14th. This represents a $0.84 dividend on an annualized basis and a yield of 3.6%. Invesco's dividend payout ratio is 90.32%.

Invesco Company 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.

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