Washington Trust Bank increased its position in Invesco Ltd. (NYSE:IVZ) by 9.9% during the second quarter, HoldingsChannel reports. The institutional investor owned 219,317 shares of the asset manager’s stock after purchasing an additional 19,679 shares during the period. Washington Trust Bank’s holdings in Invesco were worth $5,825,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. BlackRock Inc. lifted its position in shares of Invesco by 10.5% in the first quarter. BlackRock Inc. now owns 34,426,896 shares of the asset manager’s stock worth $1,102,006,000 after buying an additional 3,283,953 shares in the last quarter. Sawtooth Solutions LLC lifted its position in shares of Invesco by 205.1% in the fourth quarter. Sawtooth Solutions LLC now owns 43,530 shares of the asset manager’s stock worth $1,590,000 after buying an additional 29,264 shares in the last quarter. ETRADE Capital Management LLC raised its position in Invesco by 137.8% during the fourth quarter. ETRADE Capital Management LLC now owns 13,937 shares of the asset manager’s stock valued at $509,000 after purchasing an additional 8,076 shares during the period. Brandywine Global Investment Management LLC raised its position in Invesco by 2.9% during the fourth quarter. Brandywine Global Investment Management LLC now owns 368,067 shares of the asset manager’s stock valued at $13,450,000 after purchasing an additional 10,506 shares during the period. Finally, LPL Financial LLC raised its position in Invesco by 34.0% during the fourth quarter. LPL Financial LLC now owns 49,133 shares of the asset manager’s stock valued at $1,795,000 after purchasing an additional 12,469 shares during the period. Institutional investors own 79.79% of the company’s stock.
A number of equities research analysts have issued reports on the company. UBS Group upped their price objective on Invesco from $30.00 to $31.00 and gave the company a “neutral” rating in a research report on Thursday, May 24th. Barclays decreased their price objective on Invesco from $42.00 to $40.00 and set an “overweight” rating on the stock in a research report on Monday, April 23rd. TheStreet downgraded Invesco from a “b-” rating to a “c+” rating in a research report on Tuesday, May 29th. ValuEngine downgraded Invesco from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd. Finally, Zacks Investment Research upgraded Invesco from a “sell” rating to a “hold” rating in a research report on Thursday, June 28th. Two analysts have rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the stock. Invesco has a consensus rating of “Hold” and an average target price of $39.93.
In other Invesco news, major shareholder Ltd. Invesco bought 2,127,659 shares of the business’s stock in a transaction dated Tuesday, May 22nd. The shares were purchased at an average price of $4.69 per share, with a total value of $9,978,720.71. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.80% of the company’s stock.
Shares of Invesco traded down $0.40, reaching $26.39, during mid-day trading on Tuesday, according to MarketBeat Ratings. 133,603 shares of the company’s stock traded hands, compared to its average volume of 4,266,707. The stock has a market cap of $10.81 billion, a price-to-earnings ratio of 9.85, a P/E/G ratio of 0.92 and a beta of 1.66. Invesco Ltd. has a 12 month low of $26.16 and a 12 month high of $38.43. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.54 and a current ratio of 1.54.
Invesco (NYSE:IVZ) last released its earnings results on Thursday, April 26th. The asset manager reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.01. The firm had revenue of $958.00 million for the quarter, compared to analysts’ expectations of $979.91 million. Invesco had a return on equity of 12.95% and a net margin of 21.96%. The company’s quarterly revenue was up 10.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.61 earnings per share. analysts predict that Invesco Ltd. will post 2.83 earnings per share for the current fiscal year.
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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