Maple Capital Management Inc. decreased its holdings in shares of Invesco (NYSE:IVZ) by 31.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,019 shares of the asset manager’s stock after selling 3,706 shares during the period. Maple Capital Management Inc.’s holdings in Invesco were worth $293,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also modified their holdings of IVZ. Avestar Capital LLC purchased a new position in shares of Invesco during the 4th quarter valued at $137,000. Sun Life Financial INC purchased a new position in shares of Invesco during the 3rd quarter valued at $145,000. Valeo Financial Advisors LLC purchased a new position in shares of Invesco during the 3rd quarter valued at $160,000. ETRADE Capital Management LLC purchased a new stake in Invesco in the 3rd quarter worth $205,000. Finally, Miles Capital Inc. purchased a new stake in Invesco in the 4th quarter worth $205,000. 82.11% of the stock is owned by hedge funds and other institutional investors.
In other news, CEO Martin L. Flanagan sold 422,860 shares of the stock in a transaction on Thursday, March 15th. The shares were sold at an average price of $33.12, for a total value of $14,005,123.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Kevin M. Carome sold 25,000 shares of the firm’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $33.38, for a total transaction of $834,500.00. The disclosure for this sale can be found here. Insiders sold 452,860 shares of company stock worth $15,011,173 in the last quarter. Company insiders own 1.80% of the company’s stock.
IVZ has been the topic of several research analyst reports. ValuEngine cut shares of Invesco from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. Morgan Stanley restated an “equal weight” rating and set a $40.00 target price (up from $39.00) on shares of Invesco in a research report on Wednesday, February 7th. Credit Suisse Group upgraded shares of Invesco from a “neutral” rating to an “outperform” rating and upped their target price for the company from $42.00 to $43.00 in a research report on Wednesday, January 31st. Deutsche Bank upgraded shares of Invesco from a “hold” rating to a “buy” rating and decreased their target price for the company from $39.00 to $38.00 in a research report on Tuesday, February 13th. Finally, Zacks Investment Research downgraded shares of Invesco from a “buy” rating to a “hold” rating in a report on Monday, January 8th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $40.57.
NYSE:IVZ traded down $1.08 during midday trading on Friday, reaching $30.70. 3,526,484 shares of the stock traded hands, compared to its average volume of 3,953,698. The stock has a market capitalization of $12,939.13, a price-to-earnings ratio of 11.37, a PEG ratio of 0.85 and a beta of 1.71. Invesco has a 12-month low of $30.02 and a 12-month high of $38.43. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.77.
Invesco (NYSE:IVZ) last posted its quarterly earnings results on Wednesday, January 31st. The asset manager reported $0.73 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.03. The business had revenue of $1 billion during the quarter, compared to analysts’ expectations of $982.86 million. Invesco had a net margin of 21.85% and a return on equity of 13.20%. The business’s quarterly revenue was up 16.3% on a year-over-year basis. During the same quarter last year, the company posted $0.59 earnings per share. analysts expect that Invesco will post 3.09 EPS for the current year.
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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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