Royal Bank of Canada Cuts Stock Position in Invesco Ltd. $IVZ

Key Points

• Royal Bank of Canada reduced its stake in Invesco Ltd. by 5.7%, selling 58,955 shares during the first quarter, bringing its total ownership to approximately 0.22% of Invesco worth $14.8 million.
• Multiple institutional investors have recently altered their positions in Invesco, with Nuveen LLC acquiring a new position valued at $29.1 million and Principal Financial Group increasing its stake by 177.3%.
• Invesco recently missed analysts' earnings expectations for the quarter, reporting $0.36 EPS versus the consensus estimate of $0.41, while the company's revenue increased 2.2% year-over-year to $1.10 billion.

Royal Bank of Canada lessened its holdings in shares of Invesco Ltd. (NYSE:IVZ - Free Report) by 5.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 976,702 shares of the asset manager's stock after selling 58,955 shares during the quarter. Royal Bank of Canada owned approximately 0.22% of Invesco worth $14,816,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of IVZ. Nuveen LLC acquired a new position in shares of Invesco during the 1st quarter valued at about $29,138,000. Jefferies Financial Group Inc. purchased a new position in Invesco in the first quarter valued at approximately $14,433,000. Principal Financial Group Inc. increased its stake in Invesco by 177.3% in the first quarter. Principal Financial Group Inc. now owns 1,398,364 shares of the asset manager's stock valued at $21,213,000 after purchasing an additional 894,105 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Invesco by 11.3% in the first quarter. Northern Trust Corp now owns 7,083,410 shares of the asset manager's stock valued at $107,455,000 after acquiring an additional 721,947 shares during the period. Finally, Nomura Holdings Inc. boosted its holdings in shares of Invesco by 102.6% in the first quarter. Nomura Holdings Inc. now owns 14,147 shares of the asset manager's stock valued at $215,000 after acquiring an additional 562,042 shares during the period. Institutional investors and hedge funds own 66.09% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on IVZ. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $16.00 price target (up from $14.00) on shares of Invesco in a report on Thursday, July 10th. Morgan Stanley raised their price target on Invesco from $15.00 to $16.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 2nd. TD Cowen upgraded Invesco from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $17.50 to $25.00 in a research report on Monday, July 21st. Wells Fargo & Company raised Invesco from an "underweight" rating to an "equal weight" rating and raised their price target for the stock from $14.50 to $18.00 in a research note on Friday, July 11th. Finally, Evercore ISI reaffirmed a "positive" rating on shares of Invesco in a research note on Friday, September 5th. Three research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $19.38.

Invesco Trading Down 0.3%

NYSE:IVZ opened at $22.17 on Thursday. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.30 and a quick ratio of 1.30. Invesco Ltd. has a 12-month low of $11.60 and a 12-month high of $22.56. The business has a 50 day simple moving average of $20.38 and a 200 day simple moving average of $16.71. The firm has a market capitalization of $9.88 billion, a P/E ratio of 23.83, a P/E/G ratio of 1.24 and a beta of 1.58.

Invesco (NYSE:IVZ - Get Free Report) last announced 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). Invesco had a return on equity of 8.60% and a net margin of 10.68%.The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same quarter last year, the firm posted $0.43 EPS. The company's revenue was up 2.2% compared to the same quarter last year. Equities research analysts predict that Invesco Ltd. will post 1.87 EPS for the current year.

Invesco Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Thursday, August 14th were issued a $0.21 dividend. The ex-dividend date was Thursday, August 14th. This represents a $0.84 annualized dividend and a dividend yield of 3.8%. 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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