Synovus Financial Corp boosted its position in shares of Invesco PLC (NYSE:IVZ) by 8.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 14,954 shares of the asset manager’s stock after acquiring an additional 1,178 shares during the period. Synovus Financial Corp’s holdings in Invesco PLC were worth $526,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in IVZ. BlackRock Inc. raised its stake in Invesco PLC by 2,611.3% during the 1st quarter. BlackRock Inc. now owns 32,067,091 shares of the asset manager’s stock worth $982,213,000 after acquiring an additional 30,884,375 shares during the period. Kiltearn Partners LLP bought a new stake in Invesco PLC during the 1st quarter worth approximately $127,513,000. Massachusetts Financial Services Co. MA bought a new stake in Invesco PLC during the 1st quarter worth approximately $32,285,000. Vanguard Group Inc. raised its stake in Invesco PLC by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 40,096,178 shares of the asset manager’s stock worth $1,228,146,000 after acquiring an additional 870,284 shares during the period. Finally, TCW Group Inc. raised its stake in Invesco PLC by 234.8% during the 1st quarter. TCW Group Inc. now owns 1,218,211 shares of the asset manager’s stock worth $37,314,000 after acquiring an additional 854,394 shares during the period. Institutional investors own 79.71% of the company’s stock.
A number of brokerages have issued reports on IVZ. Jefferies Group LLC increased their price objective on shares of Invesco PLC from $35.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday, July 4th. BidaskClub lowered shares of Invesco PLC from a “buy” rating to a “hold” rating in a report on Monday, July 31st. ValuEngine lowered shares of Invesco PLC from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Wells Fargo & Company reaffirmed an “outperform” rating on shares of Invesco PLC in a report on Sunday, July 30th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $38.00 price objective (up from $36.00) on shares of Invesco PLC in a report on Monday, July 10th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $37.38.
Invesco PLC (NYSE IVZ) opened at 32.78 on Friday. The company has a 50 day moving average of $33.33 and a 200-day moving average of $32.99. The stock has a market capitalization of $13.34 billion, a price-to-earnings ratio of 14.61 and a beta of 1.80. Invesco PLC has a 12-month low of $27.46 and a 12-month high of $36.84.
Invesco PLC (NYSE:IVZ) last issued its quarterly earnings results on Thursday, July 27th. The asset manager reported $0.64 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.03. Invesco PLC had a return on equity of 12.74% and a net margin of 18.98%. The firm had revenue of $906.30 million during the quarter, compared to analysts’ expectations of $891.19 million. During the same period in the previous year, the business earned $0.56 earnings per share. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. On average, equities research analysts forecast that Invesco PLC will post $2.54 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Thursday, August 17th were given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 3.54%. The ex-dividend date of this dividend was Tuesday, August 15th. Invesco PLC’s payout ratio is 52.02%.
Invesco PLC Profile
Invesco Ltd. (Invesco) is an independent investment management company. The Company provides a range of investment capabilities and outcomes, which are delivered through a set of investment vehicles, to help clients achieve their investment objectives. It has a presence in the retail and institutional markets within the investment management industry in North America; Europe, Middle East and Africa (EMEA), and Asia-Pacific.
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