Royal Bank of Canada Sells 58,955 Shares of 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 decreased its position in shares of Invesco Ltd. (NYSE:IVZ - Free Report) by 5.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 976,702 shares of the asset manager's stock after selling 58,955 shares during the period. Royal Bank of Canada owned 0.22% of Invesco worth $14,816,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of IVZ. Jump Financial LLC lifted its holdings in shares of Invesco by 30.2% during the 1st quarter. Jump Financial LLC now owns 231,218 shares of the asset manager's stock valued at $3,508,000 after buying an additional 53,608 shares during the last quarter. New York State Teachers Retirement System raised its position in Invesco by 8.5% during the first quarter. New York State Teachers Retirement System now owns 405,269 shares of the asset manager's stock valued at $6,148,000 after acquiring an additional 31,643 shares in the last quarter. Principal Financial Group Inc. raised its position in Invesco by 177.3% during 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 acquiring an additional 894,105 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in Invesco by 25.7% in the first quarter. Nisa Investment Advisors LLC now owns 199,155 shares of the asset manager's stock valued at $3,021,000 after acquiring an additional 40,665 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its position in Invesco by 24.0% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 19,488 shares of the asset manager's stock worth $296,000 after acquiring an additional 3,778 shares in the last quarter. 66.09% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Invesco

In related news, Director Stephanie Butcher sold 103,192 shares of the business's stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $22.12, for a total transaction of $2,282,607.04. Following the transaction, the director directly owned 29,855 shares in the company, valued at $660,392.60. The trade was a 77.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.21% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have recently weighed in on IVZ shares. Evercore ISI restated a "positive" rating on shares of Invesco in a report on Friday, September 5th. Zacks Research upgraded Invesco to a "hold" rating in a report on Tuesday, August 12th. Royal Bank Of Canada reiterated a "sector perform" rating and set a $16.00 price target (up previously from $14.00) on shares of Invesco in a research note on Thursday, July 10th. TD Cowen raised Invesco from a "hold" rating to a "buy" rating and raised their price objective for the company from $17.50 to $25.00 in a research note on Monday, July 21st. Finally, Barclays boosted their target price on Invesco from $17.00 to $22.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 23rd. Three analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Invesco currently has an average rating of "Hold" and a consensus price target of $19.38.

Invesco Stock Performance

IVZ stock traded down $0.23 on Tuesday, reaching $22.11. 3,111,268 shares of the company were exchanged, compared to its average volume of 3,469,192. Invesco Ltd. has a 12 month low of $11.60 and a 12 month high of $22.78. The stock's fifty day moving average price is $20.83 and its 200 day moving average price is $16.85. The firm has a market capitalization of $9.86 billion, a PE ratio of 23.77, a PEG ratio of 1.25 and a beta of 1.58. 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 (NYSE:IVZ - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The asset manager reported $0.36 earnings per share for the quarter, missing analysts' consensus estimates of $0.41 by ($0.05). Invesco had a net margin of 10.68% and a return on equity of 8.60%. The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same period last year, the company earned $0.43 earnings per share. Invesco's revenue for the quarter was up 2.2% on a year-over-year basis. On average, research analysts anticipate that Invesco Ltd. will post 1.87 EPS for the current fiscal year.

Invesco Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Thursday, August 14th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $0.84 dividend on an annualized basis and a yield of 3.8%. Invesco's dividend payout ratio (DPR) is 90.32%.

About Invesco

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.