Trexquant Investment LP Reduces Stock Position in Invesco Ltd. $IVZ

Key Points

• Trexquant Investment LP has reduced its holdings in Invesco Ltd. by 78.5%, selling 457,996 shares and now holding 125,257 shares valued at approximately $1.9 million.
• Analysts have recently revised their price targets for Invesco's stock, with Morgan Stanley increasing their target from $15.00 to $16.00 and Barclays raising it from $17.00 to $22.00, indicating a generally positive outlook.
• Invesco reported $0.36 earnings per share for the last quarter, missing analyst expectations, but their revenue showed a slight increase of 2.2% compared to the same quarter last year.

Trexquant Investment LP cut its stake in Invesco Ltd. (NYSE:IVZ - Free Report) by 78.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 125,257 shares of the asset manager's stock after selling 457,996 shares during the quarter. Trexquant Investment LP's holdings in Invesco were worth $1,900,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. D.A. Davidson & CO. raised its stake in shares of Invesco by 1.6% in the first quarter. D.A. Davidson & CO. now owns 47,462 shares of the asset manager's stock worth $720,000 after purchasing an additional 755 shares during the last quarter. Brooklyn Investment Group raised its stake 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 purchasing an additional 800 shares during the last quarter. CWM LLC raised its stake in shares of Invesco by 0.5% in the first quarter. CWM LLC now owns 163,434 shares of the asset manager's stock worth $2,479,000 after purchasing an additional 862 shares during the last quarter. Resona Asset Management Co. Ltd. raised its stake in shares of Invesco by 33.5% in the first quarter. Resona Asset Management Co. Ltd. now owns 3,943 shares of the asset manager's stock worth $60,000 after purchasing an additional 990 shares during the last quarter. Finally, Harmony Asset Management LLC raised its stake in shares of Invesco by 1.4% in the first quarter. Harmony Asset Management LLC now owns 72,410 shares of the asset manager's stock worth $1,098,000 after purchasing an additional 1,010 shares during the last quarter. 66.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Wells Fargo & Company raised Invesco from an "underweight" rating to an "equal weight" rating and upped their target price for the company from $14.50 to $18.00 in a report on Friday, July 11th. Barclays upped their target price on Invesco from $17.00 to $22.00 and gave the company an "equal weight" rating in a report on Wednesday, July 23rd. Evercore ISI reaffirmed a "positive" rating on shares of Invesco in a report on Friday, September 5th. 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 report on Friday, June 27th. Finally, Morgan Stanley upped their target price on Invesco from $15.00 to $16.00 and gave the company an "equal weight" rating in a report on Wednesday, July 2nd. Three analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $19.38.

Invesco Stock Performance

NYSE IVZ traded down $0.07 on Wednesday, hitting $22.17. 2,892,170 shares of the stock traded hands, compared to its average volume of 3,626,394. The business's fifty day moving average is $20.38 and its two-hundred day moving average is $16.71. Invesco Ltd. has a 12 month low of $11.60 and a 12 month high of $22.56. The firm has a market capitalization of $9.88 billion, a price-to-earnings ratio of 23.83, a PEG ratio of 1.24 and a beta of 1.58. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.30 and a current ratio of 1.30.

Invesco (NYSE:IVZ - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The asset manager reported $0.36 earnings per share 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 firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same period last year, the company posted $0.43 earnings per share. Invesco's revenue for the quarter was up 2.2% on a year-over-year basis. As a group, equities analysts anticipate that Invesco Ltd. will post 1.87 EPS for the current fiscal year.

Invesco Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Thursday, August 14th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend was Thursday, August 14th. Invesco's dividend payout ratio 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.