Van ECK Associates Corp raised its position in Invesco Ltd. (NYSE:IVZ – Get Rating) by 69.8% during the third quarter, Holdings Channel reports. The institutional investor owned 9,557 shares of the asset manager’s stock after buying an additional 3,927 shares during the quarter. Van ECK Associates Corp’s holdings in Invesco were worth $131,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of the company. Trian Fund Management L.P. boosted its position in Invesco by 3.2% in the 2nd quarter. Trian Fund Management L.P. now owns 55,758,634 shares of the asset manager’s stock valued at $899,387,000 after buying an additional 1,724,600 shares during the last quarter. Vanguard Group Inc. boosted its position in Invesco by 14.0% in the 1st quarter. Vanguard Group Inc. now owns 52,105,335 shares of the asset manager’s stock valued at $1,201,550,000 after buying an additional 6,384,917 shares during the last quarter. Northern Trust Corp boosted its position in Invesco by 1.1% in the 2nd quarter. Northern Trust Corp now owns 3,501,891 shares of the asset manager’s stock valued at $56,486,000 after buying an additional 38,919 shares during the last quarter. AQR Capital Management LLC boosted its position in Invesco by 20.0% in the 2nd quarter. AQR Capital Management LLC now owns 3,116,267 shares of the asset manager’s stock valued at $48,957,000 after buying an additional 519,902 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in Invesco by 4.4% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 2,940,475 shares of the asset manager’s stock valued at $47,430,000 after buying an additional 124,108 shares during the last quarter. 69.42% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of research analysts have commented on IVZ shares. UBS Group lowered Invesco from a “buy” rating to a “neutral” rating and increased their price objective for the company from $19.00 to $20.00 in a research report on Tuesday, January 10th. StockNews.com started coverage on Invesco in a research report on Wednesday, October 12th. They issued a “sell” rating on the stock. Deutsche Bank Aktiengesellschaft lowered Invesco from a “buy” rating to a “hold” rating and reduced their price target for the stock from $22.00 to $19.00 in a research report on Monday, December 19th. Morgan Stanley raised their price target on Invesco from $14.00 to $17.00 and gave the stock an “equal weight” rating in a research report on Thursday. Finally, JPMorgan Chase & Co. reduced their price target on Invesco from $20.00 to $17.50 and set a “neutral” rating on the stock in a research report on Tuesday, October 18th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $19.86.
Invesco Stock Performance
Invesco (NYSE:IVZ – Get Rating) last posted its earnings results on Tuesday, October 25th. The asset manager reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.09). The business had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.11 billion. Invesco had a return on equity of 10.39% and a net margin of 18.21%. The business’s revenue was down 17.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.77 earnings per share. As a group, research analysts forecast that Invesco Ltd. will post 1.66 earnings per share for the current year.
Invesco Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, December 2nd. Shareholders of record on Friday, November 11th were issued a dividend of $0.188 per share. The ex-dividend date of this dividend was Wednesday, November 9th. This represents a $0.75 annualized dividend and a yield of 4.05%. Invesco’s dividend payout ratio is presently 37.50%.
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.
- Get a free copy of the StockNews.com research report on Invesco (IVZ)
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