Invesco Ltd. $IVZ Shares Purchased by Legal & General Group Plc

Legal & General Group Plc grew its stake in shares of Invesco Ltd. (NYSE:IVZ) by 12.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 884,579 shares of the asset manager’s stock after purchasing an additional 95,316 shares during the quarter. Legal & General Group Plc owned 0.20% of Invesco worth $13,950,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of IVZ. Goldman Sachs Group Inc. lifted its position in Invesco by 99.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 7,026,920 shares of the asset manager’s stock worth $106,598,000 after acquiring an additional 3,507,150 shares in the last quarter. AQR Capital Management LLC grew its position in Invesco by 35.4% in the first quarter. AQR Capital Management LLC now owns 11,028,524 shares of the asset manager’s stock valued at $165,262,000 after acquiring an additional 2,882,928 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Invesco during the first quarter valued at approximately $29,138,000. Northern Trust Corp lifted its position in shares of Invesco by 11.3% during the first quarter. Northern Trust Corp now owns 7,083,410 shares of the asset manager’s stock worth $107,455,000 after purchasing an additional 721,947 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its stake in shares of Invesco by 9.5% in the first quarter. Alliancebernstein L.P. now owns 6,985,352 shares of the asset manager’s stock valued at $105,968,000 after purchasing an additional 605,161 shares during the period. Institutional investors and hedge funds own 66.09% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on IVZ shares. BMO Capital Markets reaffirmed an “outperform” rating on shares of Invesco in a research note on Friday, October 24th. Zacks Research raised shares of Invesco from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 6th. Citigroup lifted their target price on Invesco from $22.00 to $25.00 and gave the stock a “neutral” rating in a research report on Monday, September 29th. Barclays boosted their price target on Invesco from $24.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 29th. Finally, Fundamental Research set a $27.00 price target on Invesco in a report on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $23.63.

Insider Buying and Selling at Invesco

In other Invesco news, Director Douglas J. Sharp sold 160,000 shares of Invesco stock in a transaction on Friday, October 31st. The shares were sold at an average price of $23.56, for a total value of $3,769,600.00. Following the completion of the transaction, the director owned 192 shares of the company’s stock, valued at $4,523.52. The trade was a 99.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Stephanie Butcher sold 103,192 shares of the business’s stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $22.12, for a total transaction of $2,282,607.04. Following the sale, the director owned 29,855 shares of the company’s stock, valued at approximately $660,392.60. The trade was a 77.56% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 1.21% of the company’s stock.

Invesco Stock Performance

Shares of Invesco stock opened at $24.45 on Friday. The firm has a market cap of $10.88 billion, a PE ratio of 16.63, a price-to-earnings-growth ratio of 0.85 and a beta of 1.72. Invesco Ltd. has a 1 year low of $11.60 and a 1 year high of $24.79. The firm’s 50-day simple moving average is $23.37 and its 200-day simple moving average is $20.16. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.30 and a current ratio of 1.30.

Invesco (NYSE:IVZ) last announced its quarterly earnings data on Tuesday, October 28th. The asset manager reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.17. Invesco had a return on equity of 8.52% and a net margin of 14.15%.The firm had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter in the prior year, the firm posted $0.44 earnings per share. Invesco’s revenue for the quarter was up 7.4% compared to the same quarter last year. Equities analysts forecast that Invesco Ltd. will post 1.87 earnings per share for the current fiscal year.

Invesco Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 2nd. Investors of record on Friday, November 14th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend is Friday, November 14th. Invesco’s dividend payout ratio is currently 57.14%.

Invesco Company Profile

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.