Insider Selling: Invesco (NYSE:IVZ) CFO Sells $1,030,447.00 in Stock

Key Points

• Invesco CFO Laura Allison Dukes sold 31,075 shares at an average price of $33.16, generating $1.03 million. Her remaining direct stake fell 10.71% to 259,183 shares.
• Invesco shares traded down 0.4% to $32.22, though the company recently exceeded quarterly earnings expectations with $0.71 in EPS and $1.33 billion in revenue, up 20.5% year over year.
• The company maintains a quarterly dividend of $0.215 per share, equivalent to an annualized $0.86 payout and a 2.7% yield. Analysts collectively rate the stock “Hold,” with a consensus price target of $31.46.

Invesco Ltd. (NYSE:IVZ - Get Free Report) CFO Laura Allison Dukes sold 31,075 shares of the firm's stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $33.16, for a total transaction of $1,030,447.00. Following the completion of the sale, the chief financial officer directly owned 259,183 shares of the company's stock, valued at approximately $8,594,508.28. This represents a 10.71% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Invesco Trading Down 0.4%

NYSE:IVZ traded down $0.12 during trading hours on Wednesday, hitting $32.22. 793,888 shares of the stock were exchanged, compared to its average volume of 5,351,344. The company's 50 day moving average is $30.71 and its two-hundred day moving average is $27.58. Invesco Ltd. has a twelve month low of $20.67 and a twelve month high of $33.66. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 1.00. The company has a market capitalization of $14.28 billion, a P/E ratio of -47.38, a price-to-earnings-growth ratio of 0.48 and a beta of 1.63.

Invesco (NYSE:IVZ - Get Free Report) last released its earnings results on Tuesday, July 28th. The asset manager reported $0.71 EPS for the quarter, beating the consensus estimate of $0.67 by $0.04. The company had revenue of $1.33 billion during the quarter, compared to analysts' expectations of $1.32 billion. Invesco had a positive return on equity of 12.83% and a negative net margin of 0.93%.The business's revenue for the quarter was up 20.5% on a year-over-year basis. During the same period last year, the firm earned $0.36 EPS. On average, sell-side analysts anticipate that Invesco Ltd. will post 2.82 earnings per share for the current fiscal year.

Invesco Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 2nd. Shareholders of record on Friday, August 14th were given a dividend of $0.215 per share. The ex-dividend date was Friday, August 14th. This represents a $0.86 dividend on an annualized basis and a yield of 2.7%. Invesco's dividend payout ratio is presently -126.47%.

Hedge Funds Weigh In On Invesco

Several institutional investors and hedge funds have recently made changes to their positions in the company. SJS Investment Consulting Inc. lifted its holdings in Invesco by 80.1% during the first quarter. SJS Investment Consulting Inc. now owns 1,207 shares of the asset manager's stock worth $29,000 after acquiring an additional 537 shares in the last quarter. Larson Financial Group LLC increased its holdings in shares of Invesco by 61.5% in the third quarter. Larson Financial Group LLC now owns 1,466 shares of the asset manager's stock worth $34,000 after acquiring an additional 558 shares in the last quarter. Continuum Advisory LLC acquired a new stake in shares of Invesco during the second quarter worth about $39,000. Root Financial Partners LLC raised its position in shares of Invesco by 28.2% during the fourth quarter. Root Financial Partners LLC now owns 1,702 shares of the asset manager's stock worth $45,000 after purchasing an additional 374 shares during the period. Finally, Blue Trust Inc. lifted its holdings in shares of Invesco by 171.0% during the 1st quarter. Blue Trust Inc. now owns 1,859 shares of the asset manager's stock valued at $45,000 after purchasing an additional 1,173 shares in the last quarter. Institutional investors and hedge funds own 66.09% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Wall Street Zen cut shares of Invesco from a "buy" rating to a "hold" rating in a research report on Sunday, August 9th. Zacks Research lowered shares of Invesco from a "strong-buy" rating to a "hold" rating in a report on Monday. Evercore set a $35.00 price objective on shares of Invesco in a research note on Monday, August 10th. JPMorgan Chase & Co. lifted their target price on shares of Invesco from $29.00 to $29.50 and gave the stock a "neutral" rating in a report on Wednesday, July 29th. Finally, Jefferies Financial Group upgraded shares of Invesco to a "hold" rating in a research report on Tuesday, June 30th. Four research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $31.46.

Invesco Company Profile

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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