Financial Counselors Inc. increased its stake in shares of Invesco Ltd. (NYSE:IVZ) by 107.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 223,464 shares of the asset manager’s stock after purchasing an additional 115,847 shares during the quarter. Financial Counselors Inc. owned approximately 0.05% of Invesco worth $8,165,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in IVZ. Raymond James Financial Services Advisors Inc. increased its position in Invesco by 7.4% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 18,862 shares of the asset manager’s stock worth $664,000 after purchasing an additional 1,307 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in Invesco by 59.7% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 105,764 shares of the asset manager’s stock worth $3,705,000 after acquiring an additional 39,548 shares during the last quarter. Nationwide Fund Advisors grew its holdings in Invesco by 12.0% during the 3rd quarter. Nationwide Fund Advisors now owns 389,107 shares of the asset manager’s stock worth $13,634,000 after acquiring an additional 41,728 shares during the last quarter. TIAA FSB grew its holdings in Invesco by 10.4% during the 3rd quarter. TIAA FSB now owns 115,850 shares of the asset manager’s stock worth $4,060,000 after acquiring an additional 10,919 shares during the last quarter. Finally, First Quadrant L P CA bought a new stake in Invesco during the 3rd quarter worth approximately $8,072,000. Institutional investors and hedge funds own 80.38% of the company’s stock.
IVZ has been the topic of a number of research reports. Royal Bank of Canada set a $47.00 target price on shares of Invesco and gave the stock a “buy” rating in a report on Saturday, December 16th. ValuEngine raised shares of Invesco from a “hold” rating to a “buy” rating in a report on Wednesday, December 6th. Morgan Stanley lowered shares of Invesco from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $40.00 to $39.00 in a report on Wednesday, January 3rd. Citigroup lowered shares of Invesco from a “buy” rating to a “neutral” rating in a report on Friday, January 19th. Finally, Zacks Investment Research lowered shares of Invesco from a “buy” rating to a “hold” rating in a report on Monday, January 8th. One analyst has rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $40.57.
In other news, insider Kevin M. Carome sold 25,000 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $33.38, for a total value of $834,500.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 1.80% of the company’s stock.
Shares of Invesco Ltd. (IVZ) opened at $33.19 on Friday. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.50 and a quick ratio of 1.50. Invesco Ltd. has a 12 month low of $29.36 and a 12 month high of $38.43. The company has a market cap of $13,510.92, a price-to-earnings ratio of 12.11, a PEG ratio of 0.89 and a beta of 1.74.
Invesco (NYSE:IVZ) last posted its quarterly earnings data on Wednesday, January 31st. The asset manager reported $0.73 EPS for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.03. Invesco had a net margin of 21.85% and a return on equity of 13.51%. The company had revenue of $1 billion for the quarter, compared to analyst estimates of $982.86 million. During the same period in the prior year, the firm posted $0.59 EPS. The company’s quarterly revenue was up 16.3% on a year-over-year basis. sell-side analysts anticipate that Invesco Ltd. will post 3.08 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 2nd. Stockholders of record on Thursday, February 15th will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.50%. The ex-dividend date of this dividend is Wednesday, February 14th. Invesco’s dividend payout ratio is currently 42.34%.
COPYRIGHT VIOLATION NOTICE: This story was first published by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this story on another publication, it was illegally copied and reposted in violation of international trademark and copyright law. The legal version of this story can be viewed at https://www.dispatchtribunal.com/2018/02/25/invesco-ltd-ivz-shares-bought-by-financial-counselors-inc.html.
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.
Want to see what other hedge funds are holding IVZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Invesco Ltd. (NYSE:IVZ).
Receive News & Ratings for Invesco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Invesco and related companies with MarketBeat.com's FREE daily email newsletter.