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

Legal & General Group Plc reduced its stake in shares of Invesco Ltd. (NYSE:IVZ) by 7.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 728,896 shares of the asset manager’s stock after selling 56,249 shares during the quarter. Legal & General Group Plc’s holdings in Invesco were worth $19,148,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of IVZ. Citigroup Inc. grew its stake in shares of Invesco by 53.3% during the 3rd quarter. Citigroup Inc. now owns 732,436 shares of the asset manager’s stock worth $16,802,000 after purchasing an additional 254,501 shares during the period. Convergence Investment Partners LLC acquired a new stake in shares of Invesco during the 3rd quarter worth approximately $3,021,000. Jackson Creek Investment Advisors LLC acquired a new stake in shares of Invesco during the 3rd quarter worth approximately $1,130,000. Thrivent Financial for Lutherans grew its stake in shares of Invesco by 83.5% during the 3rd quarter. Thrivent Financial for Lutherans now owns 631,046 shares of the asset manager’s stock worth $14,476,000 after purchasing an additional 287,219 shares during the period. Finally, Foundations Investment Advisors LLC acquired a new stake in shares of Invesco during the 3rd quarter worth approximately $502,000. 66.09% of the stock is owned by institutional investors and hedge funds.

Invesco Stock Down 3.3%

Shares of NYSE:IVZ opened at $27.51 on Tuesday. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 1.01. The business has a fifty day moving average of $25.61 and a two-hundred day moving average of $25.92. The stock has a market cap of $12.19 billion, a P/E ratio of -18.71, a PEG ratio of 0.64 and a beta of 1.60. Invesco Ltd. has a 52-week low of $14.15 and a 52-week high of $29.61.

Invesco (NYSE:IVZ) last issued its earnings results on Tuesday, April 28th. The asset manager reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.01). The company had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.27 billion. Invesco had a negative net margin of 6.11% and a positive return on equity of 11.34%. The firm’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.44 earnings per share. On average, research analysts expect that Invesco Ltd. will post 2.58 earnings per share for the current year.

Invesco Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 2nd. Shareholders of record on Friday, May 15th will be issued a $0.215 dividend. This represents a $0.86 annualized dividend and a yield of 3.1%. The ex-dividend date is Friday, May 15th. This is an increase from Invesco’s previous quarterly dividend of $0.21. Invesco’s dividend payout ratio (DPR) is currently -58.50%.

Analyst Ratings Changes

A number of brokerages have recently commented on IVZ. TD Cowen raised their price objective on shares of Invesco from $27.00 to $32.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $31.00 price objective on shares of Invesco in a research note on Tuesday, April 21st. Wall Street Zen cut shares of Invesco from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. JPMorgan Chase & Co. reduced their target price on Invesco from $30.00 to $25.00 and set a “neutral” rating for the company in a research note on Friday, April 24th. Finally, The Goldman Sachs Group upped their target price on Invesco from $27.00 to $30.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 29th. Four analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $27.29.

Invesco Profile

Invesco Ltd. is an independent global investment management firm headquartered in Atlanta, Georgia, and publicly traded on the New York Stock Exchange (NYSE: IVZ). With origins dating back to 1935, the company is dedicated to offering a wide array of investment strategies and solutions to both individual and institutional clients worldwide.

The firm’s product suite encompasses actively managed equity and fixed income funds, passive index funds, exchange-traded funds (ETFs), closed-end funds, and unit investment trusts, alongside specialized offerings such as private markets, real estate, and structured products.