Invesco Ltd. $IVZ Stock: VIRGINIA RETIREMENT SYSTEMS ET Al Raises Stake

VIRGINIA RETIREMENT SYSTEMS ET Al lifted its position in shares of Invesco Ltd. (NYSE:IVZ) by 127.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 53,400 shares of the asset manager’s stock after acquiring an additional 29,900 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Invesco were worth $1,611,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its stake in Invesco by 2.9% during the first quarter. Dimensional Fund Advisors LP now owns 21,361,119 shares of the asset manager’s stock valued at $518,836,000 after purchasing an additional 596,434 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Invesco by 5.6% during the first quarter. Bank of New York Mellon Corp now owns 3,431,694 shares of the asset manager’s stock worth $83,356,000 after purchasing an additional 182,060 shares during the period. Bank of America Corp DE lifted its position in shares of Invesco by 28.9% in the 1st quarter. Bank of America Corp DE now owns 2,654,290 shares of the asset manager’s stock worth $64,473,000 after buying an additional 595,797 shares during the last quarter. Quantinno Capital Management LP lifted its position in shares of Invesco by 24.1% in the 1st quarter. Quantinno Capital Management LP now owns 1,574,728 shares of the asset manager’s stock worth $38,250,000 after buying an additional 306,213 shares during the last quarter. Finally, Sei Investments Co. lifted its position in shares of Invesco by 19.9% in the 1st quarter. Sei Investments Co. now owns 1,396,191 shares of the asset manager’s stock worth $35,681,000 after buying an additional 231,926 shares during the last quarter. 66.09% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Phoebe A. Wood sold 3,000 shares of the company’s stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $32.44, for a total value of $97,320.00. Following the completion of the sale, the director owned 107,111 shares of the company’s stock, valued at $3,474,680.84. This represents a 2.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Stephanie Butcher sold 45,095 shares of the stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $32.28, for a total transaction of $1,455,666.60. Following the completion of the transaction, the director owned 10,205 shares of the company’s stock, valued at $329,417.40. This represents a 81.55% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 222,540 shares of company stock valued at $7,227,167 over the last three months. 1.40% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on IVZ. TD Cowen decreased their price target on shares of Invesco from $39.00 to $38.00 and set a “buy” rating for the company in a report on Monday, October 12th. Weiss Ratings reiterated a “hold (c)” rating on shares of Invesco in a research note on Friday, September 25th. Royal Bank Of Canada raised their target price on shares of Invesco from $35.00 to $36.00 and gave the stock an “outperform” rating in a report on Friday, October 9th. UBS Group set a $36.00 target price on shares of Invesco in a report on Tuesday, October 13th. Finally, Zacks Research downgraded Invesco from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 7th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Invesco has an average rating of “Moderate Buy” and a consensus target price of $33.79.

Invesco Stock Performance

Shares of NYSE IVZ opened at $29.45 on Thursday. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.36. The stock has a 50 day simple moving average of $30.30 and a 200-day simple moving average of $28.00. The company has a market cap of $13.05 billion, a PE ratio of -42.68, a P/E/G ratio of 0.42 and a beta of 1.69. Invesco Ltd. has a 12-month low of $21.82 and a 12-month high of $33.66.

Invesco (NYSE:IVZ) last posted its earnings results on Tuesday, October 27th. The asset manager reported $0.72 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.02). Invesco had a negative net margin of 1.10% and a positive return on equity of 12.65%. The business had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same quarter in the prior year, the business earned $0.61 earnings per share. The firm’s revenue was up 16.5% compared to the same quarter last year. On average, equities research analysts forecast that Invesco Ltd. will post 2.80 EPS for the current year.

Invesco Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 2nd. Stockholders of record on Friday, November 13th will be paid a $0.2150 dividend. The ex-dividend date of this dividend is Friday, November 13th. This represents a $0.86 annualized dividend and a dividend yield of 2.9%. Invesco’s dividend payout ratio is presently -124.64%.

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.