Stephanie Butcher Sells 103,192 Shares of Invesco (NYSE:IVZ) 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 on Wednesday, September 10th. The shares were sold at an average price of $22.12, for a total value of $2,282,607.04. Following the completion of the sale, the director owned 29,855 shares of the company's stock, valued at $660,392.60. This trade represents a 77.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Invesco Stock Performance

IVZ traded up $0.14 during trading on Monday, hitting $22.57. The stock had a trading volume of 1,294,052 shares, compared to its average volume of 5,442,234. The company has a 50 day moving average price of $20.61 and a 200-day moving average price of $16.78. The firm has a market cap of $10.07 billion, a price-to-earnings ratio of 24.26, a P/E/G ratio of 1.25 and a beta of 1.58. Invesco Ltd. has a one year low of $11.60 and a one year 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.

Invesco (NYSE:IVZ - Get Free Report) last released its earnings results 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 company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.09 billion. Invesco had a net margin of 10.68% and a return on equity of 8.60%. The business's revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.43 earnings per share. As a group, research analysts predict that Invesco Ltd. will post 1.87 EPS for the current year.

Invesco Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Thursday, August 14th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date was Thursday, August 14th. Invesco's payout ratio is 90.32%.

Institutional Trading of Invesco

A number of institutional investors and hedge funds have recently modified their holdings of the business. Thrivent Financial for Lutherans increased its position in shares of Invesco by 155.4% during the second quarter. Thrivent Financial for Lutherans now owns 343,827 shares of the asset manager's stock valued at $5,422,000 after acquiring an additional 209,184 shares during the last quarter. State of Wyoming increased its position in Invesco by 17.5% in the second quarter. State of Wyoming now owns 26,005 shares of the asset manager's stock worth $410,000 after buying an additional 3,868 shares during the last quarter. Kestra Investment Management LLC increased its position in Invesco by 672.0% in the second quarter. Kestra Investment Management LLC now owns 3,443 shares of the asset manager's stock worth $54,000 after buying an additional 2,997 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its position in 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 boosted its holdings in shares of Invesco by 56.1% in 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 owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on IVZ. Barclays upped their price target on Invesco from $17.00 to $22.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 23rd. TD Cowen upgraded Invesco from a "hold" rating to a "buy" rating and upped their price target for the company from $17.50 to $25.00 in a research report on Monday, July 21st. The Goldman Sachs Group upped their price target on Invesco from $16.25 to $16.75 and gave the company a "neutral" rating in a research report on Friday, June 27th. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $16.00 price target (up previously from $14.00) on shares of Invesco in a research report on Thursday, July 10th. Finally, Zacks Research upgraded Invesco to a "hold" rating in a research report on Tuesday, August 12th. Three investment analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the stock. According to MarketBeat, Invesco presently has an average rating of "Hold" and a consensus 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.