Royal Bank of Canada Lowers Stake in Invesco PLC (IVZ)

Royal Bank of Canada decreased its stake in Invesco PLC (NYSE:IVZ) by 23.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,225,121 shares of the company’s stock after selling 667,378 shares during the period. Royal Bank of Canada owned 0.53% of Invesco PLC worth $68,468,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. FDO Partners LLC acquired a new position in shares of Invesco PLC during the first quarter valued at about $222,000. Mn Services Vermogensbeheer B.V. acquired a new position in shares of Invesco PLC during the first quarter valued at about $287,000. Bessemer Group Inc. increased its position in shares of Invesco PLC by 243.1% in the first quarter. Bessemer Group Inc. now owns 11,375 shares of the company’s stock valued at $350,000 after buying an additional 8,060 shares during the last quarter. St. Johns Investment Management Company LLC increased its position in shares of Invesco PLC by 18.0% in the first quarter. St. Johns Investment Management Company LLC now owns 12,476 shares of the company’s stock valued at $384,000 after buying an additional 1,901 shares during the last quarter. Finally, Banced Corp increased its position in shares of Invesco PLC by 7.0% in the first quarter. Banced Corp now owns 12,683 shares of the company’s stock valued at $390,000 after buying an additional 827 shares during the last quarter.

Shares of Invesco PLC (NYSE:IVZ) traded up 0.39% during trading on Wednesday, reaching $28.48. 2,470,928 shares of the company’s stock were exchanged. The firm has a market capitalization of $11.88 billion and a PE ratio of 13.94. Invesco PLC has a 52 week low of $23.02 and a 52 week high of $39.48. The company’s 50-day moving average price is $27.15 and its 200 day moving average price is $28.87.

Several research analysts have issued reports on the stock. Deutsche Bank AG reissued a “buy” rating and set a $35.00 price objective on shares of Invesco PLC in a research report on Tuesday, April 19th. Jefferies Group reaffirmed a “buy” rating and issued a $30.00 target price (down previously from $35.00) on shares of Invesco PLC in a report on Monday, July 11th. Barclays PLC reaffirmed an “overweight” rating and issued a $34.00 target price on shares of Invesco PLC in a report on Friday, July 15th. JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a $39.00 target price (up previously from $36.00) on shares of Invesco PLC in a report on Thursday, April 7th. Finally, Zacks Investment Research downgraded shares of Invesco PLC from a “hold” rating to a “strong sell” rating in a report on Monday, July 11th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $35.67.

In related news, Director Colin Meadows sold 40,433 shares of the stock in a transaction dated Friday, June 10th. The shares were sold at an average price of $28.43, for a total value of $1,149,510.19. Following the sale, the director now owns 195,074 shares of the company’s stock, valued at approximately $5,545,953.82. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Invesco Ltd. (Invesco) is an independent global investment management company. The Company provides a range of investment capabilities and outcomes, which are delivered through a diverse set of investment vehicles, to help clients achieve their investment objectives. It operates in the investment management segment.