Insider Selling: Invesco (NYSE:IVZ) Director Sells 103,192 Shares of Stock

Key Points

• Invesco Ltd. Director Stephanie Butcher sold 103,192 shares of stock on September 10th for a total of $2,282,607.04, reducing their ownership by 77.56% to 29,855 shares.
• Invesco's quarterly earnings report showed $0.36 earnings per share, falling short of analysts’ expectations of $0.41, while revenue rose to $1.10 billion.
• The company has recently paid a quarterly dividend of $0.21 per share, yielding 3.7%, and has a dividend payout ratio of 90.32%.

Invesco Ltd. (NYSE:IVZ - Get Free Report) Director Stephanie Butcher sold 103,192 shares of the business's stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $22.12, for a total value of $2,282,607.04. Following the sale, the director directly owned 29,855 shares in the company, valued at $660,392.60. The trade was a 77.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Invesco Trading Up 0.3%

Shares of IVZ traded up $0.06 during trading hours on Wednesday, reaching $22.16. 3,153,111 shares of the company traded hands, compared to its average volume of 3,447,485. The firm has a market cap 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 current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.88. Invesco Ltd. has a 12-month low of $11.60 and a 12-month high of $22.78. The stock's fifty day moving average price is $20.94 and its 200 day moving average price is $16.88.

Invesco (NYSE:IVZ - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The asset manager reported $0.36 earnings per share for the quarter, missing analysts' consensus estimates of $0.41 by ($0.05). The business had revenue of $1.10 billion during the quarter, compared to analysts' expectations of $1.09 billion. Invesco had a return on equity of 8.60% and a net margin of 10.68%.The firm's revenue was up 2.2% compared to the same quarter last year. During the same period last year, the company earned $0.43 earnings per share. Sell-side analysts forecast that Invesco Ltd. will post 1.87 earnings per share for the current year.

Invesco Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Thursday, August 14th were given a dividend of $0.21 per share. The ex-dividend date was Thursday, August 14th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.8%. Invesco's dividend payout ratio (DPR) is 90.32%.

Institutional Trading of Invesco

Institutional investors have recently bought and sold shares of the company. Thrivent Financial for Lutherans grew its stake in Invesco by 155.4% in the 2nd quarter. Thrivent Financial for Lutherans now owns 343,827 shares of the asset manager's stock worth $5,422,000 after acquiring an additional 209,184 shares during the period. State of Wyoming grew its position in Invesco by 17.5% during the second quarter. State of Wyoming now owns 26,005 shares of the asset manager's stock valued at $410,000 after purchasing an additional 3,868 shares in the last quarter. Kestra Investment Management LLC lifted its stake in Invesco by 672.0% in the second quarter. Kestra Investment Management LLC now owns 3,443 shares of the asset manager's stock valued at $54,000 after acquiring an additional 2,997 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its stake in shares of Invesco by 0.9% in the second quarter. CANADA LIFE ASSURANCE Co now owns 235,340 shares of the asset manager's stock worth $3,716,000 after buying an additional 2,131 shares during the last quarter. Finally, Corient Private Wealth LLC increased its position in Invesco by 56.1% during the second quarter. Corient Private Wealth LLC now owns 54,459 shares of the asset manager's stock worth $859,000 after acquiring an additional 19,577 shares during the period. 66.09% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Wells Fargo & Company upgraded Invesco from an "underweight" rating to an "equal weight" rating and lifted their price objective for the stock from $14.50 to $18.00 in a research report on Friday, July 11th. TD Cowen upgraded shares of Invesco from a "hold" rating to a "buy" rating and increased their price target for the company from $17.50 to $25.00 in a research note on Monday, July 21st. Morgan Stanley boosted their price objective on shares of Invesco from $15.00 to $16.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 2nd. Zacks Research raised shares of Invesco to a "hold" rating in a research report on Tuesday, August 12th. Finally, Royal Bank Of Canada reissued a "sector perform" rating and issued a $16.00 price target (up from $14.00) on shares of Invesco in a research report on Thursday, July 10th. Three investment analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company. Based on data from MarketBeat.com, Invesco currently has an average rating of "Hold" and an average price target of $19.38.

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.