UniSuper Management Pty Ltd Grows Stock Position in Invesco Ltd. $IVZ

Key Points

• UniSuper Management Pty Ltd increased its stake in Invesco Ltd. by 16.9% during the 1st quarter, holding a total of 103,504 shares valued at approximately $1.57 million.
• Invesco's shares recently saw a price target increase from $15.00 to $16.00 by Morgan Stanley, and TD Cowen upgraded the stock from a "hold" rating to a "buy" rating with a new price target of $25.00.
• The company announced a $0.21 quarterly dividend with a current annualized yield of 3.8%, though its payout ratio stands at 90.32%.

UniSuper Management Pty Ltd grew its stake in Invesco Ltd. (NYSE:IVZ - Free Report) by 16.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 103,504 shares of the asset manager's stock after acquiring an additional 14,959 shares during the quarter. UniSuper Management Pty Ltd's holdings in Invesco were worth $1,570,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Jump Financial LLC increased its holdings in shares of Invesco by 30.2% in the 1st quarter. Jump Financial LLC now owns 231,218 shares of the asset manager's stock valued at $3,508,000 after acquiring an additional 53,608 shares during the period. New York State Teachers Retirement System increased its holdings in shares of Invesco by 8.5% in the 1st quarter. New York State Teachers Retirement System now owns 405,269 shares of the asset manager's stock valued at $6,148,000 after acquiring an additional 31,643 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Invesco by 177.3% in the 1st quarter. Principal Financial Group Inc. now owns 1,398,364 shares of the asset manager's stock valued at $21,213,000 after acquiring an additional 894,105 shares during the period. Nisa Investment Advisors LLC increased its holdings in shares of Invesco by 25.7% in the 1st quarter. Nisa Investment Advisors LLC now owns 199,155 shares of the asset manager's stock valued at $3,021,000 after acquiring an additional 40,665 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Invesco by 24.0% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 19,488 shares of the asset manager's stock valued at $296,000 after acquiring an additional 3,778 shares during the period. 66.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Wells Fargo & Company upgraded Invesco from an "underweight" rating to an "equal weight" rating and lifted their price target for the company from $14.50 to $18.00 in a report on Friday, July 11th. Barclays raised their price objective on Invesco from $17.00 to $22.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 23rd. Royal Bank Of Canada reissued a "sector perform" rating and issued a $16.00 price objective (up previously from $14.00) on shares of Invesco in a research report on Thursday, July 10th. Zacks Research raised Invesco to a "hold" rating in a research report on Tuesday, August 12th. Finally, Evercore ISI reissued a "positive" rating on shares of Invesco in a research report on Friday, September 5th. 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 MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $19.38.

Insider Buying and Selling

In other Invesco news, Director Stephanie Butcher sold 103,192 shares of Invesco stock in a transaction dated Wednesday, September 10th. The stock was 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 in the company, valued at approximately $660,392.60. This trade represents a 77.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.21% of the company's stock.

Invesco Stock Performance

IVZ traded down $0.23 on Tuesday, reaching $22.11. 3,111,268 shares of the stock were exchanged, compared to its average volume of 3,469,192. The company's 50-day moving average price is $20.83 and its 200 day moving average price is $16.85. Invesco Ltd. has a fifty-two week low of $11.60 and a fifty-two week high of $22.78. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.30 and a quick ratio of 1.30. The firm has a market capitalization of $9.86 billion, a PE ratio of 23.77, a PEG ratio of 1.25 and a beta of 1.58.

Invesco (NYSE:IVZ - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The asset manager reported $0.36 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 firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same period in the prior year, the firm posted $0.43 EPS. The business's revenue was up 2.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Invesco Ltd. will post 1.87 EPS for the current fiscal year.

Invesco Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Thursday, August 14th were given 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 yield of 3.8%. Invesco's payout ratio is currently 90.32%.

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.