Laffer Investments reduced its position in shares of Invesco PLC (NYSE:IVZ) by 6.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 48,850 shares of the asset manager’s stock after selling 3,645 shares during the quarter. Laffer Investments’ holdings in Invesco were worth $1,712,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently made changes to their positions in IVZ. Amundi Pioneer Asset Management Inc. increased its stake in shares of Invesco by 144.5% in the 3rd quarter. Amundi Pioneer Asset Management Inc. now owns 5,097,202 shares of the asset manager’s stock valued at $178,605,000 after acquiring an additional 3,012,871 shares during the last quarter. Janus Henderson Group PLC increased its stake in shares of Invesco by 5,060.5% in the 2nd quarter. Janus Henderson Group PLC now owns 2,787,996 shares of the asset manager’s stock valued at $98,110,000 after acquiring an additional 2,733,970 shares during the last quarter. FMR LLC increased its stake in shares of Invesco by 137.5% in the 2nd quarter. FMR LLC now owns 2,959,243 shares of the asset manager’s stock valued at $104,135,000 after acquiring an additional 1,713,338 shares during the last quarter. Kiltearn Partners LLP increased its stake in shares of Invesco by 38.5% in the 2nd quarter. Kiltearn Partners LLP now owns 5,765,510 shares of the asset manager’s stock valued at $202,888,000 after acquiring an additional 1,602,510 shares during the last quarter. Finally, Capital International Investors increased its stake in shares of Invesco by 9.2% in the 3rd quarter. Capital International Investors now owns 13,917,400 shares of the asset manager’s stock valued at $487,666,000 after acquiring an additional 1,169,200 shares during the last quarter. 81.38% of the stock is owned by institutional investors.
Invesco PLC (NYSE IVZ) traded down $0.67 during midday trading on Friday, hitting $36.29. The stock had a trading volume of 2,817,700 shares, compared to its average volume of 2,715,570. Invesco PLC has a 12 month low of $28.75 and a 12 month high of $37.85. 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 firm has a market cap of $15,045.60, a P/E ratio of 14.49, a PEG ratio of 1.16 and a beta of 1.81.
Invesco (NYSE:IVZ) last posted its quarterly earnings results on Thursday, October 26th. The asset manager reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $940.96 million. During the same quarter in the prior year, the business earned $0.60 EPS. The firm’s revenue for the quarter was up 14.3% on a year-over-year basis. equities 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. Investors of record on Tuesday, November 14th were paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date was Monday, November 13th. Invesco’s dividend payout ratio (DPR) is presently 50.44%.
A number of analysts have recently commented on the company. ValuEngine raised Invesco from a “hold” rating to a “buy” rating in a research note on Wednesday, December 6th. Zacks Investment Research lowered Invesco from a “buy” rating to a “hold” rating in a research report on Wednesday, November 29th. Jefferies Group boosted their price objective on Invesco from $41.00 to $42.00 and gave the company a “buy” rating in a research report on Friday, November 3rd. Royal Bank of Canada reiterated a “buy” rating and issued a $41.00 price objective on shares of Invesco in a research report on Friday, October 27th. Finally, Citigroup boosted their price objective on Invesco from $43.00 to $44.00 and gave the company a “buy” rating in a research report on Friday, October 27th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $38.50.
In related news, insider Colin Meadows sold 54,215 shares of the stock in a transaction on 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 in the company, valued at approximately $5,920,764.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.80% of the stock is currently owned by corporate insiders.
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Invesco Company 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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