Rakuten Investment Management Inc. Makes New $1.54 Million Investment in Invesco Ltd. $IVZ

Key Points

• Rakuten Investment Management initiated a $1.54 million stake in Invesco, buying 50,538 shares in the third quarter; institutional investors collectively own 66.09% of the stock.
• Invesco reported quarterly earnings of $0.72 per share, below the $0.74 consensus, while revenue rose 16.5% year over year to $1.38 billion. The company declared a quarterly dividend of $0.215 per share, equivalent to a 3.2% annualized yield.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $33.79. Company insiders sold 222,540 shares worth about $7.23 million over the past 90 days.

Rakuten Investment Management Inc. bought a new stake in shares of Invesco Ltd. (NYSE:IVZ - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 50,538 shares of the asset manager's stock, valued at approximately $1,537,000.

Several other institutional investors have also recently made changes to their positions in the stock. Provenance Wealth Advisors LLC purchased a new position in shares of Invesco during the third quarter valued at about $70,000. Sumitomo Mitsui Trust Group Inc. lifted its stake in Invesco by 9.5% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 26,465 shares of the asset manager's stock worth $798,000 after purchasing an additional 2,292 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in Invesco during the 3rd quarter valued at $3,350,000. Vise Technologies Inc. boosted its stake in shares of Invesco by 55.1% during the third quarter. Vise Technologies Inc. now owns 65,409 shares of the asset manager's stock valued at $1,973,000 after purchasing an additional 23,239 shares during the period. Finally, Americana Partners LLC bought a new position in Invesco in the 3rd quarter worth about $354,000. Institutional investors own 66.09% of the company's stock.

Insider Activity

In other news, CFO Laura Dukes sold 31,075 shares of Invesco stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $33.16, for a total transaction of $1,030,447.00. Following the completion of the transaction, the chief financial officer directly owned 259,183 shares of the company's stock, valued at $8,594,508.28. The trade was a 10.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Phoebe Wood sold 3,000 shares of the business's stock in a transaction on Friday, September 11th. The shares were sold at an average price of $32.44, for a total transaction of $97,320.00. Following the completion of the transaction, the director owned 107,111 shares of the company's stock, valued at approximately $3,474,680.84. This represents a 2.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 222,540 shares of company stock worth $7,227,167 over the last 90 days. Company insiders own 1.40% of the company's stock.

Invesco Stock Up 0.1%

Invesco stock opened at $27.09 on Friday. The firm has a market cap of $12.01 billion, a price-to-earnings ratio of -39.27, a price-to-earnings-growth ratio of 0.40 and a beta of 1.69. Invesco Ltd. has a 52 week low of $21.82 and a 52 week high of $33.66. The business's 50-day moving average price is $30.06 and its 200 day moving average price is $27.99. The company has a quick ratio of 1.31, a current ratio of 1.16 and a debt-to-equity ratio of 0.96.

Invesco (NYSE:IVZ - Get Free Report) last announced its quarterly earnings results on Tuesday, October 27th. The asset manager reported $0.72 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.02). Invesco had a negative net margin of 1.10% and a positive return on equity of 13.49%. The company had revenue of $1.38 billion for the quarter, compared to analysts' expectations of $1.38 billion. During the same quarter in the prior year, the business posted $0.61 earnings per share. The firm's revenue was up 16.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Invesco Ltd. will post 2.80 earnings per share for the current year.

Invesco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 2nd. Stockholders of record on Friday, November 13th will be paid a dividend of $0.2150 per share. The ex-dividend date of this dividend is Friday, November 13th. This represents a $0.86 dividend on an annualized basis and a dividend yield of 3.2%. Invesco's dividend payout ratio (DPR) is presently -124.64%.

Wall Street Analyst Weigh In

IVZ has been the subject of several recent research reports. Morgan Stanley lifted their price objective on Invesco from $31.00 to $32.00 and gave the company an "equal weight" rating in a report on Thursday, October 22nd. Evercore set a $34.00 target price on Invesco in a research note on Friday, October 9th. UBS Group set a $36.00 price target on shares of Invesco in a research note on Tuesday, October 13th. JPMorgan Chase & Co. raised their price objective on Invesco from $29.00 to $29.50 and gave the stock a "neutral" rating in a research note on Wednesday, July 29th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Invesco in a research report on Friday, September 25th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, Invesco presently has an average rating of "Moderate Buy" and an average target price of $33.79.

About Invesco

Invesco Ltd. is a global investment management company headquartered in Atlanta, Georgia. It provides investment products and services to individual investors, financial professionals, institutions and other organizations.

Its offerings include mutual funds and exchange-traded funds, as well as investment strategies and portfolio management across a range of asset classes and approaches, including active and index investing. Invesco also serves institutional clients with investment solutions tailored to their needs.

The company operates internationally, serving clients across the Americas, Europe, the Middle East and Asia-Pacific.

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