Teachers Retirement System of The State of Kentucky Buys 925,300 Shares of Invesco Ltd. $IVZ

Key Points

• Teachers Retirement System of The State of Kentucky dramatically increased its stake in Invesco, buying 925,300 additional shares in Q1 and lifting its holdings to 960,441 shares, worth about $23.33 million.
• Other major institutional investors, including Vanguard, State Street, AQR, and AllianceBernstein, also reported sizable Invesco holdings, and institutions now own 66.09% of the company.
• Invesco recently reported quarterly EPS of $0.57 versus $0.58 expected, while revenue came in slightly below estimates at $1.26 billion; the company also raised its quarterly dividend to $0.215 per share for a 3.0% annualized yield.

Teachers Retirement System of The State of Kentucky increased its stake in shares of Invesco Ltd. (NYSE:IVZ - Free Report) by 2,633.1% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 960,441 shares of the asset manager's stock after purchasing an additional 925,300 shares during the period. Teachers Retirement System of The State of Kentucky owned 0.22% of Invesco worth $23,330,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in IVZ. Vanguard Group Inc. grew its holdings in Invesco by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 52,965,761 shares of the asset manager's stock valued at $1,391,411,000 after buying an additional 947,693 shares in the last quarter. State Street Corp lifted its holdings in shares of Invesco by 1.5% in the second quarter. State Street Corp now owns 22,260,704 shares of the asset manager's stock worth $351,051,000 after buying an additional 332,340 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of Invesco by 5.3% in the second quarter. AQR Capital Management LLC now owns 11,612,559 shares of the asset manager's stock valued at $182,491,000 after acquiring an additional 584,035 shares during the period. Invesco Ltd. bought a new position in shares of Invesco in the fourth quarter valued at approximately $230,391,000. Finally, Alliancebernstein L.P. grew its stake in Invesco by 13.4% during the second quarter. Alliancebernstein L.P. now owns 7,924,717 shares of the asset manager's stock valued at $124,973,000 after acquiring an additional 939,365 shares in the last quarter. Institutional investors own 66.09% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. TD Cowen upped their target price on shares of Invesco from $32.00 to $33.00 and gave the stock a "buy" rating in a report on Monday, June 8th. The Goldman Sachs Group raised their price target on shares of Invesco from $27.00 to $30.00 and gave the company a "neutral" rating in a report on Wednesday, April 29th. Argus restated a "hold" rating on shares of Invesco in a research report on Wednesday, April 29th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $31.00 price target on shares of Invesco in a report on Thursday, July 2nd. Finally, BMO Capital Markets lowered their price objective on Invesco from $32.00 to $28.00 and set an "outperform" rating on the stock in a research report on Friday, April 10th. Four equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $28.69.

Invesco Stock Up 0.0%

IVZ opened at $28.98 on Monday. The stock has a market cap of $12.85 billion, a PE ratio of -19.72, a P/E/G ratio of 0.53 and a beta of 1.62. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 1.01. Invesco Ltd. has a 52 week low of $16.49 and a 52 week high of $29.82. The business's fifty day simple moving average is $27.52 and its 200 day simple moving average is $26.46.

Invesco (NYSE:IVZ - Get Free Report) last issued its quarterly earnings results on Tuesday, April 28th. The asset manager reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.01). Invesco had a positive return on equity of 11.34% and a negative net margin of 6.11%.The firm had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.27 billion. During the same period last year, the firm earned $0.44 EPS. The company's revenue for the quarter was up 14.0% on a year-over-year basis. As a group, research analysts expect that Invesco Ltd. will post 2.65 earnings per share for the current fiscal year.

Invesco Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 2nd. Investors of record on Friday, May 15th were issued a dividend of $0.215 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $0.86 dividend on an annualized basis and a dividend yield of 3.0%. This is a positive change from Invesco's previous quarterly dividend of $0.21. Invesco's payout ratio is -58.50%.

About Invesco

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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