MBL Wealth LLC Purchases 19,516 Shares of Invesco Ltd. $IVZ

MBL Wealth LLC purchased a new stake in shares of Invesco Ltd. (NYSE:IVZ) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 19,516 shares of the asset manager’s stock, valued at approximately $589,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Root Financial Partners LLC bought a new position in Invesco in the 3rd quarter valued at about $165,000. Nisa Investment Advisors LLC increased its stake in Invesco by 3.7% during the 3rd quarter. Nisa Investment Advisors LLC now owns 60,950 shares of the asset manager’s stock valued at $1,838,000 after buying an additional 2,175 shares during the period. Gold Investment Management Ltd. raised its position in shares of Invesco by 1.8% during the 3rd quarter. Gold Investment Management Ltd. now owns 69,634 shares of the asset manager’s stock worth $2,100,000 after buying an additional 1,208 shares in the last quarter. Independent Wealth Network Inc. bought a new stake in shares of Invesco during the 3rd quarter worth about $231,000. Finally, USA Financial Formulas bought a new stake in shares of Invesco during the 3rd quarter worth about $450,000. 66.09% of the stock is currently owned by institutional investors.

Invesco Price Performance

Shares of IVZ traded down $0.72 during mid-day trading on Friday, hitting $28.07. The company’s stock had a trading volume of 8,257,089 shares, compared to its average volume of 4,645,317. The firm has a 50-day moving average price of $30.92 and a 200 day moving average price of $28.86. The stock has a market capitalization of $12.44 billion, a price-to-earnings ratio of -41.28, a PEG ratio of 0.46 and a beta of 1.65. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.31 and a quick ratio of 1.31. Invesco Ltd. has a fifty-two week low of $20.67 and a fifty-two week high of $33.66.

Invesco (NYSE:IVZ) last released its earnings results on Tuesday, July 28th. The asset manager reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.04. Invesco had a negative net margin of 0.93% and a positive return on equity of 12.83%. The business had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same period in the previous year, the firm earned $0.36 EPS. The business’s revenue for the quarter was up 20.5% on a year-over-year basis. On average, research analysts predict that Invesco Ltd. will post 2.82 EPS for the current fiscal year.

Invesco Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Shareholders of record on Friday, August 14th were given a $0.2150 dividend. The ex-dividend date was Friday, August 14th. This represents a $0.86 annualized dividend and a yield of 3.1%. Invesco’s payout ratio is -126.47%.

Insider Buying and Selling

In other news, CFO Laura Dukes sold 31,075 shares of the firm’s stock in a transaction on Friday, September 4th. The stock was sold at an average price of $33.16, for a total transaction of $1,030,447.00. Following the completion of the sale, the chief financial officer directly owned 259,183 shares of the company’s stock, valued at $8,594,508.28. This trade represents a 10.71% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Andrew Tak Shing Lo sold 100,840 shares of the firm’s stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $32.20, for a total value of $3,247,048.00. Following the sale, the director directly owned 812,477 shares of the company’s stock, valued at approximately $26,161,759.40. This represents a 11.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 222,540 shares of company stock worth $7,227,167 over the last three months. Corporate insiders own 1.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on IVZ. UBS Group set a $36.00 price objective on shares of Invesco in a research note on Tuesday, October 13th. Royal Bank Of Canada boosted their target price on Invesco from $35.00 to $36.00 and gave the stock an “outperform” rating in a report on Friday, October 9th. Weiss Ratings restated a “hold (c)” rating on shares of Invesco in a research report on Friday, September 25th. Jefferies Financial Group raised Invesco to a “hold” rating in a research note on Tuesday, June 30th. Finally, Morgan Stanley lifted their price target on Invesco from $31.00 to $32.00 and gave the company an “equal weight” rating in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $33.19.

About Invesco

Invesco Ltd. (NYSE: IVZ) is a global investment management company that provides investment products and services to individual investors, financial professionals, institutions and governments. The company manages assets across a range of strategies, including equities, fixed income, multi-asset portfolios, alternatives, money market funds and cash management.

Invesco offers mutual funds, exchange-traded funds, separately managed accounts, model portfolios and institutional investment solutions.