Short Interest in Invesco Ltd. (NYSE:IVZ) Decreases By 5.4%

Invesco Ltd. (NYSE:IVZ) was the recipient of a large decline in short interest during the month of June. As of June 15th, there was short interest totalling 7,360,000 shares, a decline of 5.4% from the May 31st total of 7,780,000 shares. Currently, 1.7% of the shares of the stock are short sold. Based on an average daily volume of 4,330,000 shares, the days-to-cover ratio is currently 1.7 days.

Hedge Funds Weigh In On Invesco

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC boosted its holdings in Invesco by 208.7% in the 2nd quarter. GAMMA Investing LLC now owns 14,804 shares of the asset manager’s stock worth $221,000 after acquiring an additional 10,008 shares during the period. Abich Financial Wealth Management LLC boosted its stake in shares of Invesco by 50.0% during the 1st quarter. Abich Financial Wealth Management LLC now owns 3,631 shares of the asset manager’s stock valued at $60,000 after buying an additional 1,210 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its stake in shares of Invesco by 11.9% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 9,471 shares of the asset manager’s stock valued at $155,000 after buying an additional 1,010 shares during the last quarter. Cacti Asset Management LLC boosted its stake in shares of Invesco by 64.5% during the 1st quarter. Cacti Asset Management LLC now owns 326,281 shares of the asset manager’s stock valued at $5,100,000 after buying an additional 127,931 shares during the last quarter. Finally, Cetera Advisors LLC boosted its stake in shares of Invesco by 217.6% during the 1st quarter. Cetera Advisors LLC now owns 42,464 shares of the asset manager’s stock valued at $704,000 after buying an additional 29,095 shares during the last quarter. Hedge funds and other institutional investors own 66.09% of the company’s stock.

Invesco Trading Up 0.3 %

Shares of NYSE:IVZ traded up $0.05 during trading on Wednesday, reaching $15.05. 1,119,054 shares of the stock were exchanged, compared to its average volume of 4,458,151. The company has a debt-to-equity ratio of 0.77, a quick ratio of 6.89 and a current ratio of 6.89. Invesco has a 12-month low of $12.48 and a 12-month high of $18.71. The firm has a market cap of $6.77 billion, a price-to-earnings ratio of -20.19, a price-to-earnings-growth ratio of 1.13 and a beta of 1.47. The firm’s 50-day moving average price is $15.18 and its 200 day moving average price is $15.90.

Invesco (NYSE:IVZ) last issued its earnings results on Tuesday, April 23rd. The asset manager reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.07). The firm had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.08 billion. Invesco had a positive return on equity of 7.84% and a negative net margin of 1.74%. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.38 EPS. On average, sell-side analysts anticipate that Invesco will post 1.64 earnings per share for the current fiscal year.

Invesco Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 14th were issued a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 5.45%. The ex-dividend date was Monday, May 13th. This is a boost from Invesco’s previous quarterly dividend of $0.20. Invesco’s dividend payout ratio is currently -109.33%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on IVZ shares. JPMorgan Chase & Co. cut their target price on shares of Invesco from $17.00 to $16.50 and set a “neutral” rating for the company in a research note on Wednesday, April 24th. StockNews.com raised shares of Invesco from a “sell” rating to a “hold” rating in a research note on Monday, June 17th. TD Cowen dropped their price objective on shares of Invesco from $21.00 to $19.50 and set a “buy” rating for the company in a research note on Wednesday, April 24th. The Goldman Sachs Group dropped their price objective on shares of Invesco from $17.50 to $17.00 and set a “neutral” rating for the company in a research note on Tuesday. Finally, Morgan Stanley upped their price objective on shares of Invesco from $16.00 to $17.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 17th. Ten analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $16.81.

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.