Invesco Ltd. (NYSE:IVZ – Get Free Report) 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 – Get Free Report) 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
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.
Read Our Latest Stock Analysis on Invesco
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.
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