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

A number of other institutional investors and hedge funds have also modified their holdings of the company. D.A. Davidson & CO. grew its position in Invesco by 1.6% in the first quarter. D.A. Davidson & CO. now owns 47,462 shares of the asset manager's stock valued at $720,000 after acquiring an additional 755 shares during the period. EP Wealth Advisors LLC lifted its stake in Invesco by 6.8% in the first quarter. EP Wealth Advisors LLC now owns 12,477 shares of the asset manager's stock valued at $189,000 after buying an additional 792 shares during the period. Brooklyn Investment Group increased its holdings in shares of Invesco by 17.1% in the first quarter. Brooklyn Investment Group now owns 5,465 shares of the asset manager's stock worth $83,000 after acquiring an additional 800 shares in the last quarter. CWM LLC grew its holdings in shares of Invesco by 0.5% during the first quarter. CWM LLC now owns 163,434 shares of the asset manager's stock worth $2,479,000 after buying an additional 862 shares in the last quarter. Finally, Resona Asset Management Co. Ltd. boosted its position in Invesco by 33.5% during the first quarter. Resona Asset Management Co. Ltd. now owns 3,943 shares of the asset manager's stock valued at $60,000 after purchasing an additional 990 shares during the last quarter. 66.09% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Stephanie Butcher sold 103,192 shares of the business's stock in a transaction dated 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 transaction, the director directly owned 29,855 shares in the company, valued at approximately $660,392.60. The trade was a 77.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.21% of the stock is currently owned by company insiders.

Invesco Stock Performance

IVZ traded down $0.12 during mid-day trading on Friday, reaching $22.43. 2,512,728 shares of the company traded hands, compared to its average volume of 3,450,205. The stock has a market capitalization of $10.00 billion, a P/E ratio of 24.12, a P/E/G ratio of 1.25 and a beta of 1.58. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.88. The company's fifty day moving average price is $20.61 and its 200-day moving average price is $16.78. Invesco Ltd. has a 52-week low of $11.60 and a 52-week high of $22.78.

Invesco (NYSE:IVZ - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The asset manager reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.05). Invesco had a net margin of 10.68% and a return on equity of 8.60%. The business had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $1.09 billion. During the same quarter in the prior year, the company posted $0.43 earnings per share. The firm's quarterly revenue was up 2.2% compared to the same quarter last year. On average, sell-side analysts expect that Invesco Ltd. will post 1.87 EPS for the current year.

Invesco Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Thursday, August 14th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend was Thursday, August 14th. Invesco's dividend payout ratio (DPR) is 90.32%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on IVZ. Barclays lifted their price objective on Invesco from $17.00 to $22.00 and gave the company an "equal weight" rating in a report on Wednesday, July 23rd. TD Cowen upgraded Invesco from a "hold" rating to a "buy" rating and upped their target price for the company from $17.50 to $25.00 in a research report on Monday, July 21st. The Goldman Sachs Group upped their target price on Invesco from $16.25 to $16.75 and gave the company a "neutral" rating in a research report on Friday, June 27th. Wells Fargo & Company raised Invesco from an "underweight" rating to an "equal weight" rating and upped their price target for the stock from $14.50 to $18.00 in a research note on Friday, July 11th. Finally, Morgan Stanley increased their price objective on Invesco from $15.00 to $16.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 2nd. Three equities research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $19.38.

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.