Invesco Ltd. (NYSE:IVZ) Shares Acquired by Victory Capital Management Inc.

Key Points

• Victory Capital Management Inc. has significantly increased its stake in Invesco Ltd. by 81.1% during the 1st quarter, now owning 283,699 shares worth $4.3 million.
• Several institutional investors have also adjusted their positions in Invesco, with a collective ownership of 66.09% of the company's stock.
• Invesco reported $0.36 EPS in its last earnings announcement, missing expectations, with revenue increasing 2.2% year-over-year.

Victory Capital Management Inc. boosted its stake in shares of Invesco Ltd. (NYSE:IVZ - Free Report) by 81.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 283,699 shares of the asset manager's stock after purchasing an additional 127,008 shares during the quarter. Victory Capital Management Inc. owned about 0.06% of Invesco worth $4,304,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. grew its position in shares of Invesco by 17.8% in the 1st quarter. SBI Securities Co. Ltd. now owns 8,258 shares of the asset manager's stock worth $125,000 after buying an additional 1,247 shares during the last quarter. Cutter & CO Brokerage Inc. acquired a new stake in Invesco in the first quarter valued at approximately $204,000. CWM LLC boosted its stake in Invesco by 0.5% in the first quarter. CWM LLC now owns 163,434 shares of the asset manager's stock valued at $2,479,000 after acquiring an additional 862 shares in the last quarter. New York State Common Retirement Fund grew its holdings in Invesco by 11.6% in the first quarter. New York State Common Retirement Fund now owns 258,990 shares of the asset manager's stock worth $3,929,000 after purchasing an additional 27,000 shares during the last quarter. Finally, Harmony Asset Management LLC increased its position in shares of Invesco by 1.4% during 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 in the last quarter. Hedge funds and other institutional investors own 66.09% of the company's stock.

Analyst Ratings Changes

Several research analysts recently issued reports on IVZ shares. 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 shares of Invesco from an "underweight" rating to an "equal weight" rating and increased their price objective for the company from $14.50 to $18.00 in a research report on Friday, July 11th. Barclays boosted their target price on shares of Invesco from $17.00 to $22.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 23rd. Bank of America lowered their price objective on shares of Invesco from $19.00 to $18.00 and set a "neutral" rating for the company in a research note on Thursday, April 3rd. Finally, Evercore ISI raised their target price on Invesco from $13.00 to $15.00 and gave the stock an "in-line" rating in a research note on Wednesday, April 23rd. Fourteen investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Invesco presently has a consensus rating of "Hold" and an average price target of $18.78.

Invesco Stock Performance

Shares of IVZ traded down $0.24 during trading hours on Wednesday, hitting $21.48. The stock had a trading volume of 6,510,829 shares, compared to its average volume of 8,354,858. The firm has a 50-day moving average price of $16.49 and a 200 day moving average price of $16.03. Invesco Ltd. has a fifty-two week low of $11.60 and a fifty-two week high of $21.85. The firm has a market capitalization of $9.61 billion, a price-to-earnings ratio of 23.10, a PEG ratio of 1.18 and a beta of 1.48. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.37 and a current ratio of 0.59.

Invesco (NYSE:IVZ - Get Free Report) last posted 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). The firm had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $1.09 billion. Invesco had a return on equity of 7.97% and a net margin of 10.68%. The company's revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.43 earnings per share. As a group, research analysts anticipate that Invesco Ltd. will post 1.87 EPS for the current year.

Invesco Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Thursday, August 14th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 3.91%. The ex-dividend date of this dividend is Thursday, August 14th. Invesco's payout ratio is presently 90.32%.

Invesco Company 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.