Invesco Ltd. (NYSE:IVZ) Short Interest Up 12.6% in October

Invesco Ltd. (NYSE:IVZ) was the recipient of a significant increase in short interest during the month of October. As of October 31st, there was short interest totalling 15,800,000 shares, an increase of 12.6% from the October 15th total of 14,030,000 shares. Currently, 3.6% of the company’s stock are sold short. Based on an average daily trading volume, of 4,220,000 shares, the days-to-cover ratio is currently 3.7 days.

Insider Activity at Invesco

In related news, major shareholder Invesco Realty, Inc. bought 796,323 shares of the firm’s stock in a transaction on Monday, October 2nd. The stock was bought at an average cost of $25.12 per share, for a total transaction of $20,003,633.76. Following the completion of the purchase, the insider now directly owns 1,052,487 shares in the company, valued at approximately $26,438,473.44. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Invesco

A number of institutional investors have recently modified their holdings of the company. Contravisory Investment Management Inc. boosted its stake in shares of Invesco by 2.0% in the 2nd quarter. Contravisory Investment Management Inc. now owns 30,437 shares of the asset manager’s stock valued at $512,000 after purchasing an additional 599 shares during the last quarter. PFG Private Wealth Management LLC boosted its stake in Invesco by 16.5% during the first quarter. PFG Private Wealth Management LLC now owns 4,478 shares of the asset manager’s stock worth $73,000 after acquiring an additional 633 shares in the last quarter. TCI Wealth Advisors Inc. boosted its stake in Invesco by 19.4% during the first quarter. TCI Wealth Advisors Inc. now owns 4,002 shares of the asset manager’s stock worth $66,000 after acquiring an additional 649 shares in the last quarter. American International Group Inc. boosted its stake in Invesco by 0.5% during the second quarter. American International Group Inc. now owns 123,287 shares of the asset manager’s stock worth $2,072,000 after acquiring an additional 655 shares in the last quarter. Finally, Norinchukin Bank The boosted its stake in Invesco by 3.0% during the first quarter. Norinchukin Bank The now owns 22,525 shares of the asset manager’s stock worth $369,000 after acquiring an additional 657 shares in the last quarter. 66.27% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on IVZ. Morgan Stanley cut their target price on shares of Invesco from $16.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 25th. Wells Fargo & Company decreased their price target on shares of Invesco from $19.00 to $16.00 in a report on Thursday, October 12th. The Goldman Sachs Group cut their price objective on shares of Invesco from $15.50 to $14.00 and set a “neutral” rating for the company in a research report on Wednesday, October 25th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Invesco from $16.00 to $15.00 and set a “hold” rating for the company in a research report on Wednesday, October 11th. Finally, Royal Bank of Canada raised their price objective on shares of Invesco from $17.00 to $19.00 in a report on Friday, July 21st. One research analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $16.48.

Invesco Price Performance

IVZ stock opened at $13.89 on Friday. The company has a 50 day simple moving average of $13.82 and a 200 day simple moving average of $15.36. The stock has a market cap of $6.24 billion, a price-to-earnings ratio of 10.47, a P/E/G ratio of 1.90 and a beta of 1.43. Invesco has a 1 year low of $12.48 and a 1 year high of $20.56. The company has a debt-to-equity ratio of 0.72, a current ratio of 5.10 and a quick ratio of 5.10.

Invesco (NYSE:IVZ) last released its quarterly earnings data on Tuesday, October 24th. The asset manager reported $0.35 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.35. Invesco had a net margin of 14.50% and a return on equity of 7.52%. The business had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same period in the prior year, the company earned $0.34 EPS. The firm’s quarterly revenue was down 1.1% compared to the same quarter last year. Research analysts anticipate that Invesco will post 1.42 EPS for the current fiscal year.

Invesco Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 4th. Stockholders of record on Friday, November 10th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 5.76%. The ex-dividend date is Thursday, November 9th. Invesco’s dividend payout ratio is currently 61.07%.

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.