Cetera Advisor Networks LLC grew its stake in Invesco Ltd. (NYSE:IVZ – Get Rating) by 2.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 30,731 shares of the asset manager's stock after buying an additional 788 shares during the period. Cetera Advisor Networks LLC's holdings in Invesco were worth $495,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in IVZ. Commonwealth Equity Services LLC raised its holdings in shares of Invesco by 18.8% during the first quarter. Commonwealth Equity Services LLC now owns 87,546 shares of the asset manager's stock worth $2,018,000 after purchasing an additional 13,884 shares during the last quarter. Prospera Financial Services Inc purchased a new position in shares of Invesco during the first quarter worth $109,000. National Bank of Canada FI grew its position in Invesco by 3.8% during the first quarter. National Bank of Canada FI now owns 38,855 shares of the asset manager's stock valued at $874,000 after buying an additional 1,424 shares during the period. IFM Investors Pty Ltd grew its position in Invesco by 25.9% during the first quarter. IFM Investors Pty Ltd now owns 68,580 shares of the asset manager's stock valued at $1,581,000 after buying an additional 14,100 shares during the period. Finally, M&T Bank Corp grew its position in Invesco by 7.1% during the first quarter. M&T Bank Corp now owns 15,862 shares of the asset manager's stock valued at $366,000 after buying an additional 1,046 shares during the period. Hedge funds and other institutional investors own 83.58% of the company's stock.
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Invesco Trading Down 1.7 %
NYSE IVZ opened at $19.09 on Friday. The company has a quick ratio of 4.43, a current ratio of 4.43 and a debt-to-equity ratio of 0.70. Invesco Ltd. has a 52 week low of $13.20 and a 52 week high of $25.33. The stock has a market capitalization of $8.68 billion, a PE ratio of 9.55, a price-to-earnings-growth ratio of 1.96 and a beta of 1.37. The firm has a 50 day moving average of $16.34 and a two-hundred day moving average of $16.96.
Invesco (NYSE:IVZ – Get Rating) last released its quarterly earnings results on Tuesday, October 25th. The asset manager reported $0.34 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.09). The business had revenue of $1.45 billion during the quarter, compared to analysts' expectations of $1.11 billion. Invesco had a net
margin of 18.21% and a return on equity of 10.39%. The firm's revenue for the quarter was down 17.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.77 EPS. As a group, research analysts expect that Invesco Ltd. will post 1.65 EPS for the current fiscal year.
Invesco Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, December 2nd. Stockholders of record on Friday, November 11th were issued a $0.188 dividend. The ex-dividend date of this dividend was Wednesday, November 9th. This represents a $0.75 dividend on an annualized basis and a dividend yield of 3.94%. Invesco's dividend payout ratio is presently 37.50%.
Wall Street Analysts Forecast Growth
Several analysts recently commented on the stock. Credit Suisse Group lowered shares of Invesco from a "neutral" rating to an "underperform" rating and dropped their price target for the company from $13.00 to $11.50 in a research report on Wednesday, October 26th. The Goldman Sachs Group raised their price target on shares of Invesco from $15.00 to $17.50 and gave the company a "neutral" rating in a research report on Wednesday, November 23rd. TheStreet upgraded shares of Invesco from a "c+" rating to a "b-" rating in a research report on Friday, November 18th. Morgan Stanley dropped their target price on shares of Invesco from $15.00 to $14.00 and set an "equal weight" rating on the stock in a research report on Thursday, October 27th. Finally, StockNews.com began coverage on shares of Invesco in a research report on Wednesday, October 12th. They issued a "sell" rating on the stock. Two analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $19.58.
Invesco 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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