Duality Advisers LP acquired a new stake in shares of Invesco Ltd. (NYSE:IVZ) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 162,591 shares of the asset manager’s stock, valued at approximately $1,749,000.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in IVZ. Ellevest Inc. increased its stake in Invesco by 319.5% during the second quarter. Ellevest Inc. now owns 2,282 shares of the asset manager’s stock valued at $25,000 after acquiring an additional 1,738 shares during the period. CFM Wealth Partners LLC bought a new stake in shares of Invesco during the first quarter valued at approximately $38,000. Parallel Advisors LLC raised its stake in shares of Invesco by 177.4% in the first quarter. Parallel Advisors LLC now owns 5,248 shares of the asset manager’s stock valued at $47,000 after purchasing an additional 3,356 shares in the last quarter. Cigna Investments Inc. New bought a new position in Invesco in the first quarter worth $96,000. Finally, Gateway Advisory LLC acquired a new stake in Invesco during the first quarter worth $103,000. Institutional investors and hedge funds own 65.21% of the company’s stock.
A number of equities analysts have recently commented on IVZ shares. Citigroup reduced their price objective on shares of Invesco from $5.00 to $4.50 and set a “sell” rating for the company in a report on Thursday. Royal Bank of Canada raised their price target on shares of Invesco from $10.00 to $11.00 and gave the stock a “sector perform” rating in a research note on Thursday. ValuEngine raised Invesco from a “strong sell” rating to a “sell” rating in a report on Monday, June 1st. William Blair reissued a “market perform” rating on shares of Invesco in a report on Monday, April 27th. Finally, Wells Fargo & Co decreased their price target on Invesco from $9.50 to $7.00 and set an “underweight” rating on the stock in a research note on Friday, April 24th. Five research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company. Invesco has an average rating of “Hold” and a consensus price target of $10.44.
Invesco (NYSE:IVZ) last released its quarterly earnings results on Tuesday, July 28th. The asset manager reported $0.35 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by ($0.08). The company had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.04 billion. Invesco had a net margin of 8.15% and a return on equity of 9.90%. During the same period last year, the company earned $0.65 earnings per share. Invesco’s revenue for the quarter was up .2% compared to the same quarter last year. On average, equities analysts expect that Invesco Ltd. will post 1.53 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th will be given a $0.155 dividend. The ex-dividend date is Thursday, August 13th. This represents a $0.62 dividend on an annualized basis and a yield of 6.18%. Invesco’s payout ratio is 24.31%.
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.
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