Invesco Ltd. (NYSE:IVZ) Sees Large Growth in Short Interest

Invesco Ltd. (NYSE:IVZ) was the target of a large increase in short interest in July. As of July 15th, there was short interest totalling 7,080,000 shares, an increase of 25.8% from the June 30th total of 5,630,000 shares. Based on an average trading volume of 4,320,000 shares, the short-interest ratio is presently 1.6 days. Approximately 1.6% of the shares of the company are short sold.

Invesco Stock Up 1.0 %

Invesco stock traded up $0.17 during mid-day trading on Tuesday, hitting $17.17. 1,323,880 shares of the company’s stock traded hands, compared to its average volume of 4,432,650. Invesco has a one year low of $12.48 and a one year high of $18.28. The firm has a 50 day moving average price of $15.54 and a 200 day moving average price of $15.68. The company has a quick ratio of 6.89, a current ratio of 6.89 and a debt-to-equity ratio of 0.48.

Invesco (NYSE:IVZ) last issued its quarterly earnings data on Tuesday, July 23rd. The asset manager reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.03. The business had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.09 billion. Invesco had a negative net margin of 1.73% and a positive return on equity of 7.64%. The company’s revenue was down .4% on a year-over-year basis. During the same period in the previous year, the business earned $0.31 earnings per share. Equities analysts predict that Invesco will post 1.65 earnings per share for the current year.

Invesco Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Friday, August 16th will be issued a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 4.78%. The ex-dividend date is Friday, August 16th. Invesco’s dividend payout ratio (DPR) is presently -109.33%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on IVZ. Royal Bank of Canada boosted their target price on shares of Invesco from $16.00 to $17.00 and gave the company a “sector perform” rating in a research note on Thursday, July 25th. BMO Capital Markets reiterated a “market perform” rating and set a $17.00 price objective (down previously from $18.00) on shares of Invesco in a research note on Wednesday, April 24th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $17.00 target price (down previously from $19.00) on shares of Invesco in a report on Wednesday, April 24th. JPMorgan Chase & Co. lowered their target price on Invesco from $17.00 to $16.50 and set a “neutral” rating for the company in a report on Wednesday, April 24th. Finally, The Goldman Sachs Group dropped their price target on Invesco from $17.50 to $17.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 2nd. Ten analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $16.90.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in IVZ. Dimensional Fund Advisors LP lifted its position in Invesco by 23.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 13,798,051 shares of the asset manager’s stock worth $246,163,000 after purchasing an additional 2,592,039 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Invesco by 3.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,034,956 shares of the asset manager’s stock worth $71,984,000 after buying an additional 136,582 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Invesco by 11.1% in the fourth quarter. Fisher Asset Management LLC now owns 3,921,250 shares of the asset manager’s stock valued at $69,955,000 after buying an additional 391,935 shares during the period. Point72 Asset Management L.P. boosted its stake in Invesco by 1,411.1% during the fourth quarter. Point72 Asset Management L.P. now owns 3,756,500 shares of the asset manager’s stock valued at $67,016,000 after buying an additional 3,507,900 shares in the last quarter. Finally, Balyasny Asset Management L.P. acquired a new position in Invesco during the fourth quarter worth about $61,795,000. Institutional investors and hedge funds own 66.09% of the company’s stock.

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.