Ellevest Inc. grew its stake in Invesco Ltd. (NYSE:IVZ – Get Rating) by 112.4% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,506 shares of the asset manager's stock after purchasing an additional 2,385 shares during the quarter. Ellevest Inc.'s holdings in Invesco were worth $73,000 at the end of the most recent reporting period.
Other hedge funds have also bought and sold shares of the company. CENTRAL TRUST Co bought a new stake in shares of Invesco in the first quarter valued at $31,000. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. bought a new stake in shares of Invesco in the first quarter valued at $32,000. Cornerstone Advisory LLC bought a new stake in shares of Invesco in the fourth quarter valued at $42,000. Herold Advisors Inc. bought a new stake in shares of Invesco in the first quarter valued at $55,000. Finally, AlphaCentric Advisors LLC bought a new stake in shares of Invesco in the fourth quarter valued at $80,000. 83.58% of the stock is currently owned by institutional investors.
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Invesco Price Performance
Invesco stock opened at $13.70 on Friday. Invesco Ltd. has a 52 week low of $13.69 and a 52 week high of $26.82. The business has a 50-day simple moving average of $17.01 and a 200 day simple moving average of $18.25. The company has a quick ratio of 4.31, a current ratio of 4.31 and a debt-to-equity ratio of 0.71. The stock has a market cap of $6.23 billion, a price-to-earnings ratio of 5.91, a PEG ratio of 1.27 and a beta of 1.28.
Invesco (NYSE:IVZ – Get Rating) last posted its earnings results on Wednesday, July 27th. The asset manager reported $0.39 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.13). Invesco had a return on equity of 12.05% and a net
margin of 19.67%. The business had revenue of $1.17 billion for the quarter, compared to analysts' expectations of $1.18 billion. During the same quarter in the previous year, the firm earned $0.78 earnings per share. Invesco's quarterly revenue was down 9.9% compared to the same quarter last year. On average, research analysts forecast that Invesco Ltd. will post 1.94 earnings per share for the current fiscal year.
Invesco Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 2nd. Stockholders of record on Friday, August 12th were issued a $0.188 dividend. This represents a $0.75 dividend on an annualized basis and a dividend yield of 5.49%. The ex-dividend date was Thursday, August 11th. Invesco's payout ratio is currently 32.33%.
Wall Street Analysts Forecast Growth
IVZ has been the topic of several research reports. BMO Capital Markets lowered Invesco from an "outperform" rating to a "market perform" rating and lowered their target price for the company from $25.00 to $20.00 in a research note on Monday, June 13th. Morgan Stanley reduced their price target on Invesco from $23.00 to $17.00 and set an "equal weight" rating for the company in a research report on Thursday, June 30th. JPMorgan Chase & Co. reduced their price target on Invesco from $22.00 to $20.00 in a research report on Monday, July 18th. StockNews.com cut Invesco from a "hold" rating to a "sell" rating in a research report on Friday, September 9th. Finally, The Goldman Sachs Group reduced their price target on Invesco from $21.50 to $18.00 and set a "neutral" rating for the company in a research report on Wednesday, June 29th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $20.68.
Invesco Company Profile
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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.
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