Insider Selling: Invesco (NYSE:IVZ) Director Sells $97,320.00 in Stock

Key Points

• Invesco director Phoebe Wood sold 3,000 shares at an average price of $32.44, totaling $97,320. She retained 107,111 shares after the transaction, reducing her position by 2.72%.
• IVZ shares recently traded at $31.34, while the company reported quarterly EPS of $0.71, exceeding the $0.67 consensus estimate, and revenue rose 20.5% year over year to $1.33 billion.
• Invesco declared a quarterly dividend of $0.215, equivalent to an annualized $0.86 and a 2.7% yield. Analysts maintain a consensus “Hold” rating with an average price target of $31.46, although some firms set targets as high as $39.

Invesco Ltd. (NYSE:IVZ - Get Free Report) Director Phoebe Wood sold 3,000 shares of the firm's stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $32.44, for a total transaction of $97,320.00. Following the completion of the transaction, the director directly owned 107,111 shares in the company, valued at approximately $3,474,680.84. The trade was a 2.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Invesco Stock Performance

IVZ stock traded down $0.94 during midday trading on Monday, reaching $31.34. 1,995,226 shares of the company's stock traded hands, compared to its average volume of 5,321,355. The stock's 50-day moving average is $31.02 and its 200 day moving average is $27.71. The stock has a market cap of $13.89 billion, a P/E ratio of -46.17, a PEG ratio of 0.47 and a beta of 1.63. Invesco Ltd. has a 52-week low of $20.67 and a 52-week high of $33.66. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 1.00.

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

Invesco Dividend Announcement

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

Institutional Investors Weigh In On Invesco

Institutional investors have recently bought and sold shares of the company. Root Financial Partners LLC increased its holdings in shares of Invesco by 28.2% in the fourth quarter. Root Financial Partners LLC now owns 1,702 shares of the asset manager's stock valued at $45,000 after buying an additional 374 shares in the last quarter. ANB Bank raised its holdings in Invesco by 3.1% during the 1st quarter. ANB Bank now owns 12,324 shares of the asset manager's stock worth $299,000 after buying an additional 375 shares during the period. Vise Technologies Inc. raised its holdings in Invesco by 3.3% during the 4th quarter. Vise Technologies Inc. now owns 13,182 shares of the asset manager's stock worth $346,000 after buying an additional 425 shares during the period. EWA LLC increased its position in shares of Invesco by 3.8% in the first quarter. EWA LLC now owns 12,490 shares of the asset manager's stock worth $303,000 after acquiring an additional 452 shares in the last quarter. Finally, Parallel Advisors LLC increased its position in shares of Invesco by 18.4% in the third quarter. Parallel Advisors LLC now owns 3,031 shares of the asset manager's stock worth $70,000 after acquiring an additional 472 shares in the last quarter. 66.09% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have issued reports on IVZ. Weiss Ratings raised Invesco from a "hold (c-)" rating to a "hold (c)" rating in a research note on Monday, June 29th. TD Cowen lifted their price objective on shares of Invesco from $37.00 to $39.00 and gave the stock a "buy" rating in a research note on Thursday, August 13th. Wall Street Zen raised Invesco from a "hold" rating to a "buy" rating in a research note on Saturday. Evercore set a $35.00 target price on Invesco in a report on Monday, August 10th. Finally, Keefe, Bruyette & Woods started coverage on Invesco in a research report on Wednesday, September 9th. They set an "outperform" rating and a $39.00 target price on the stock. Four equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $31.46.

Invesco Company Profile

Invesco Ltd. NYSE: IVZ is a global investment management company that provides investment products and services to individuals, financial advisers, institutions and other clients. The company manages assets across a range of strategies, including active and passive equities, fixed income, multi-asset portfolios, alternatives and private markets.

Its offerings include mutual funds, exchange-traded funds, separately managed accounts, institutional investment mandates and other portfolio solutions.

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