American International Group Inc. lessened its holdings in Invesco PLC (NYSE:IVZ) by 13.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 147,347 shares of the asset manager’s stock after selling 22,974 shares during the quarter. American International Group Inc.’s holdings in Invesco were worth $5,163,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also made changes to their positions in the business. Russell Investments Group Ltd. grew its stake in shares of Invesco by 9.2% during the 2nd quarter. Russell Investments Group Ltd. now owns 96,328 shares of the asset manager’s stock worth $3,390,000 after acquiring an additional 8,100 shares during the period. Municipal Employees Retirement System of Michigan grew its stake in shares of Invesco by 17.4% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 33,200 shares of the asset manager’s stock worth $1,169,000 after acquiring an additional 4,920 shares during the period. Bessemer Group Inc. grew its stake in shares of Invesco by 4,732.8% during the 2nd quarter. Bessemer Group Inc. now owns 88,633 shares of the asset manager’s stock worth $3,119,000 after acquiring an additional 86,799 shares during the period. Daiwa Securities Group Inc. grew its stake in shares of Invesco by 8.8% during the 2nd quarter. Daiwa Securities Group Inc. now owns 11,700 shares of the asset manager’s stock worth $412,000 after acquiring an additional 950 shares during the period. Finally, Candriam Luxembourg S.C.A. grew its stake in shares of Invesco by 14.0% during the 2nd quarter. Candriam Luxembourg S.C.A. now owns 33,806 shares of the asset manager’s stock worth $1,190,000 after acquiring an additional 4,150 shares during the period. Hedge funds and other institutional investors own 81.38% of the company’s stock.
In other Invesco news, insider Colin Meadows sold 54,215 shares of the firm’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $36.01, for a total value of $1,952,282.15. Following the sale, the insider now owns 164,420 shares of the company’s stock, valued at approximately $5,920,764.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.80% of the company’s stock.
Several research analysts have recently weighed in on IVZ shares. Zacks Investment Research downgraded Invesco from a “buy” rating to a “hold” rating in a research note on Thursday, October 12th. Wells Fargo & Company increased their price target on Invesco from $38.00 to $40.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 11th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $39.00 price target on shares of Invesco in a research note on Tuesday, October 3rd. Goldman Sachs Group downgraded Invesco from a “buy” rating to a “neutral” rating and cut their price target for the stock from $38.00 to $36.00 in a research note on Thursday, September 28th. Finally, Citigroup increased their price target on Invesco from $43.00 to $44.00 and gave the stock a “buy” rating in a research note on Friday, October 27th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the company. Invesco presently has a consensus rating of “Hold” and a consensus price target of $38.50.
Shares of Invesco PLC (NYSE:IVZ) traded up $0.67 during midday trading on Tuesday, reaching $36.88. The company’s stock had a trading volume of 2,979,300 shares, compared to its average volume of 2,725,962. Invesco PLC has a fifty-two week low of $28.75 and a fifty-two week high of $37.75. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.75. The company has a market cap of $14,740.29, a P/E ratio of 14.20, a P/E/G ratio of 1.14 and a beta of 1.81.
Invesco (NYSE:IVZ) last issued its earnings results on Thursday, October 26th. The asset manager reported $0.71 EPS for the quarter, topping the consensus estimate of $0.66 by $0.05. Invesco had a return on equity of 13.02% and a net margin of 18.99%. The business had revenue of $976.60 million during the quarter, compared to the consensus estimate of $940.96 million. During the same quarter last year, the company earned $0.60 EPS. The firm’s revenue was up 14.3% compared to the same quarter last year. equities research analysts predict that Invesco PLC will post 2.66 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, December 4th. Shareholders of record on Tuesday, November 14th were issued a $0.29 dividend. The ex-dividend date was Monday, November 13th. This represents a $1.16 annualized dividend and a dividend yield of 3.15%. Invesco’s payout ratio is currently 50.44%.
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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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