Palouse Capital Management Inc. Increases Stake in Invesco Ltd. (NYSE:IVZ)

Palouse Capital Management Inc. lifted its holdings in shares of Invesco Ltd. (NYSE:IVZ) by 13.1% during the 1st quarter, HoldingsChannel.com reports. The firm owned 321,039 shares of the asset manager’s stock after purchasing an additional 37,084 shares during the period. Invesco makes up 2.4% of Palouse Capital Management Inc.’s holdings, making the stock its 10th largest holding. Palouse Capital Management Inc.’s holdings in Invesco were worth $6,199,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Parallel Advisors LLC boosted its position in shares of Invesco by 58.8% during the 1st quarter. Parallel Advisors LLC now owns 1,436 shares of the asset manager’s stock worth $28,000 after acquiring an additional 532 shares in the last quarter. Rockefeller Capital Management L.P. acquired a new stake in shares of Invesco during the 1st quarter worth approximately $33,000. CSat Investment Advisory L.P. boosted its position in shares of Invesco by 141.2% during the 4th quarter. CSat Investment Advisory L.P. now owns 2,103 shares of the asset manager’s stock worth $35,000 after acquiring an additional 1,231 shares in the last quarter. Quadrant Capital Group LLC boosted its position in shares of Invesco by 46.2% during the 1st quarter. Quadrant Capital Group LLC now owns 2,213 shares of the asset manager’s stock worth $38,000 after acquiring an additional 699 shares in the last quarter. Finally, Rational Advisors LLC boosted its position in shares of Invesco by 411.3% during the 4th quarter. Rational Advisors LLC now owns 2,536 shares of the asset manager’s stock worth $42,000 after acquiring an additional 2,040 shares in the last quarter. 76.26% of the stock is currently owned by institutional investors.

Several analysts recently issued reports on the stock. Deutsche Bank increased their price target on shares of Invesco from $20.00 to $22.00 and gave the stock a “hold” rating in a research report on Friday, April 26th. Zacks Investment Research lowered shares of Invesco from a “buy” rating to a “hold” rating in a research report on Wednesday, May 22nd. Jefferies Financial Group lowered shares of Invesco from a “buy” rating to a “hold” rating and cut their target price for the company from $24.00 to $23.00 in a research report on Friday, June 7th. Wells Fargo & Co raised their target price on shares of Invesco from $19.00 to $21.00 and gave the company a “market perform” rating in a research report on Tuesday, March 19th. Finally, William Blair restated a “market perform” rating on shares of Invesco in a research report on Thursday, April 25th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the company’s stock. Invesco has a consensus rating of “Hold” and a consensus price target of $22.09.

In other Invesco news, Director Ben F. Johnson III purchased 10,000 shares of the company’s stock in a transaction dated Thursday, May 2nd. The stock was purchased at an average price of $21.37 per share, with a total value of $213,700.00. Following the completion of the purchase, the director now owns 54,618 shares of the company’s stock, valued at $1,167,186.66. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Ltd. Invesco purchased 2,222,222 shares of the company’s stock in a transaction dated Monday, June 10th. The shares were acquired at an average cost of $4.50 per share, with a total value of $9,999,999.00. The disclosure for this purchase can be found here. Insiders have bought 2,252,222 shares of company stock valued at $10,619,199 in the last ninety days. Insiders own 1.90% of the company’s stock.

Invesco stock traded down $0.19 during mid-day trading on Wednesday, reaching $20.42. The company had a trading volume of 98,854 shares, compared to its average volume of 4,490,445. Invesco Ltd. has a fifty-two week low of $15.38 and a fifty-two week high of $28.53. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.52 and a quick ratio of 1.52. The firm has a market capitalization of $8.21 billion, a P/E ratio of 8.40, a P/E/G ratio of 1.03 and a beta of 1.54.

Invesco (NYSE:IVZ) last issued its earnings results on Thursday, April 25th. The asset manager reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.03. Invesco had a net margin of 15.59% and a return on equity of 10.48%. The firm had revenue of $887.10 million for the quarter, compared to analyst estimates of $884.93 million. During the same quarter last year, the business posted $0.67 earnings per share. The company’s quarterly revenue was down 7.4% on a year-over-year basis. On average, analysts expect that Invesco Ltd. will post 2.32 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Friday, May 10th were paid a dividend of $0.31 per share. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $1.24 annualized dividend and a dividend yield of 6.07%. This is an increase from Invesco’s previous quarterly dividend of $0.30. Invesco’s dividend payout ratio (DPR) is presently 51.03%.

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About Invesco

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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Institutional Ownership by Quarter for Invesco (NYSE:IVZ)

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