Sciencast Management LP Raises Position in Invesco Ltd. $IVZ

Key Points

• Sciencast Management LP increased its stake in Invesco Ltd. by 45.3%, acquiring an additional 15,344 shares, bringing its total holdings to 49,217 shares worth approximately $747,000.
• Invesco recently reported $0.36 earnings per share (EPS) for the quarter, missing analysts' consensus estimates, while achieving revenue of $1.10 billion, slightly above expectations.
• The firm declared a quarterly dividend of $0.21 per share, representing an annualized yield of 3.8%, with a payout ratio currently at 90.32%.

Sciencast Management LP raised its stake in shares of Invesco Ltd. (NYSE:IVZ - Free Report) by 45.3% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 49,217 shares of the asset manager's stock after purchasing an additional 15,344 shares during the period. Sciencast Management LP's holdings in Invesco were worth $747,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in IVZ. Federated Hermes Inc. boosted its stake in shares of Invesco by 186.6% in the 1st quarter. Federated Hermes Inc. now owns 1,969 shares of the asset manager's stock worth $30,000 after buying an additional 1,282 shares during the last quarter. SVB Wealth LLC purchased a new position in shares of Invesco in the 1st quarter worth approximately $32,000. Summit Securities Group LLC purchased a new position in shares of Invesco in the 1st quarter worth approximately $41,000. Versant Capital Management Inc boosted its stake in shares of Invesco by 264.1% in the 1st quarter. Versant Capital Management Inc now owns 3,080 shares of the asset manager's stock worth $47,000 after buying an additional 2,234 shares during the last quarter. Finally, Curat Global LLC purchased a new position in shares of Invesco in the 1st quarter worth approximately $49,000. Institutional investors and hedge funds own 66.09% of the company's stock.

Insider Buying and Selling at Invesco

In other Invesco news, Director Stephanie Butcher sold 103,192 shares of the firm's stock in a transaction that occurred on 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 completion of the transaction, the director owned 29,855 shares of the company's stock, valued at approximately $660,392.60. This trade 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 is accessible through this link. Corporate insiders own 1.21% of the company's stock.

Invesco Trading Down 0.5%

Shares of NYSE:IVZ traded down $0.12 during midday trading on Friday, hitting $22.43. 2,512,728 shares of the stock traded hands, compared to its average volume of 5,467,112. The stock has a market capitalization of $10.00 billion, a PE ratio of 24.12, a P/E/G ratio of 1.24 and a beta of 1.58. The business's 50 day moving average is $20.50 and its two-hundred day moving average is $16.75. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.88. Invesco Ltd. has a one year low of $11.60 and a one year high of $22.78.

Invesco (NYSE:IVZ - Get Free Report) last released 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 company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the previous year, the company earned $0.43 earnings per share. Invesco's quarterly revenue was up 2.2% on a year-over-year basis. As a group, research analysts forecast that Invesco Ltd. will post 1.87 earnings per share for the current year.

Invesco Announces Dividend

The firm also recently announced 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 of this dividend was Thursday, August 14th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.7%. Invesco's dividend payout ratio (DPR) is currently 90.32%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on IVZ. Wells Fargo & Company upgraded Invesco from an "underweight" rating to an "equal weight" rating and boosted their target price for the stock from $14.50 to $18.00 in a research note on Friday, July 11th. Zacks Research upgraded Invesco to a "hold" rating in a research note on Tuesday, August 12th. The Goldman Sachs Group boosted their target price on Invesco from $16.25 to $16.75 and gave the stock a "neutral" rating in a research note on Friday, June 27th. Evercore ISI reaffirmed a "positive" rating on shares of Invesco in a report on Friday, September 5th. Finally, TD Cowen raised shares of Invesco from a "hold" rating to a "buy" rating and lifted their price target for the stock from $17.50 to $25.00 in a report on Monday, July 21st. Three analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $19.38.

Invesco 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.