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

Key Points

• Royal Bank of Canada reduced its Invesco stake by 9.4% in the first quarter, selling 68,891 shares and retaining 661,711 shares valued at approximately $16.1 million. Institutional investors collectively own 66.09% of Invesco.
• Analyst sentiment remains cautious, with Invesco carrying a consensus “Hold” rating and an average price target of $29.88, below the reported trading price of $31.71.
• Invesco exceeded quarterly expectations, reporting $0.71 in EPS on $1.33 billion in revenue, while revenue rose 20.5% year over year. The company also declared a quarterly dividend of $0.215 per share, equivalent to a 2.7% annualized yield.

Royal Bank of Canada cut its stake in Invesco Ltd. (NYSE:IVZ - Free Report) by 9.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 661,711 shares of the asset manager's stock after selling 68,891 shares during the quarter. Royal Bank of Canada owned 0.15% of Invesco worth $16,072,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Integrated Wealth Concepts LLC purchased a new stake in Invesco in the first quarter worth approximately $563,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Invesco by 7.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,767 shares of the asset manager's stock valued at $543,000 after buying an additional 2,393 shares during the last quarter. Woodline Partners LP raised its stake in Invesco by 40.2% during the 1st quarter. Woodline Partners LP now owns 37,850 shares of the asset manager's stock valued at $574,000 after buying an additional 10,859 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Invesco by 1.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,046,667 shares of the asset manager's stock valued at $15,878,000 after buying an additional 12,685 shares during the period. Finally, Baird Financial Group Inc. lifted its holdings in shares of Invesco by 6.6% during the 2nd quarter. Baird Financial Group Inc. now owns 102,407 shares of the asset manager's stock valued at $1,615,000 after buying an additional 6,341 shares during the period. 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 several research analyst reports. Royal Bank Of Canada lifted their price objective on Invesco from $33.00 to $35.00 and gave the stock an "outperform" rating in a report on Wednesday, July 29th. Jefferies Financial Group raised Invesco to a "hold" rating in a research report on Tuesday, June 30th. JPMorgan Chase & Co. boosted their price target on Invesco from $29.00 to $29.50 and gave the company a "neutral" rating in a research note on Wednesday, July 29th. Evercore set a $32.00 price target on shares of Invesco in a research report on Friday, July 10th. Finally, Morgan Stanley increased their price objective on shares of Invesco from $29.00 to $30.00 and gave the stock an "equal weight" rating in a research note on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, Invesco presently has a consensus rating of "Hold" and a consensus price target of $29.88.

Invesco Trading Down 0.9%

NYSE:IVZ opened at $31.71 on Friday. Invesco Ltd. has a one year low of $20.41 and a one year high of $32.55. The business has a fifty day moving average price of $28.54 and a 200-day moving average price of $26.77. The firm has a market capitalization of $14.06 billion, a price-to-earnings ratio of -46.64, a price-to-earnings-growth ratio of 0.51 and a beta of 1.62. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.31 and a quick ratio of 1.45.

Invesco (NYSE:IVZ - Get Free Report) last released its earnings results on Tuesday, July 28th. The asset manager reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.04. Invesco had a positive return on equity of 12.83% and a negative net margin of 0.93%.The company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same period in the previous year, the business earned $0.36 earnings per share. Invesco's quarterly revenue was up 20.5% compared to the same quarter last year. Sell-side analysts forecast that Invesco Ltd. will post 2.8 EPS for the current year.

Invesco Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Friday, August 14th will be given a dividend of $0.215 per share. This represents a $0.86 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Friday, August 14th. Invesco's payout ratio is presently -126.47%.

Invesco Profile

Invesco Ltd. is an independent global investment management firm headquartered in Atlanta, Georgia, and publicly traded on the New York Stock Exchange NYSE: IVZ. With origins dating back to 1935, the company is dedicated to offering a wide array of investment strategies and solutions to both individual and institutional clients worldwide.

The firm's product suite encompasses actively managed equity and fixed income funds, passive index funds, exchange-traded funds (ETFs), closed-end funds, and unit investment trusts, alongside specialized offerings such as private markets, real estate, and structured products.

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