State of Alaska Department of Revenue decreased its position in shares of Invesco Ltd. (NYSE:IVZ) by 16.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 81,482 shares of the asset manager’s stock after selling 16,123 shares during the quarter. State of Alaska Department of Revenue’s holdings in Invesco were worth $1,666,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently made changes to their positions in IVZ. Rehmann Capital Advisory Group boosted its holdings in shares of Invesco by 100.0% during the first quarter. Rehmann Capital Advisory Group now owns 1,338 shares of the asset manager’s stock valued at $26,000 after acquiring an additional 669 shares during the period. Parallel Advisors LLC lifted its holdings in Invesco by 58.8% in the first quarter. Parallel Advisors LLC now owns 1,436 shares of the asset manager’s stock worth $28,000 after purchasing an additional 532 shares during the period. Asset Dedication LLC lifted its holdings in Invesco by 142.9% in the second quarter. Asset Dedication LLC now owns 1,700 shares of the asset manager’s stock worth $34,000 after purchasing an additional 1,000 shares during the period. Quadrant Capital Group LLC lifted its holdings in Invesco by 46.2% in the first quarter. Quadrant Capital Group LLC now owns 2,213 shares of the asset manager’s stock worth $38,000 after purchasing an additional 699 shares during the period. Finally, FinTrust Capital Advisors LLC lifted its holdings in Invesco by 21.7% in the first quarter. FinTrust Capital Advisors LLC now owns 2,909 shares of the asset manager’s stock worth $56,000 after purchasing an additional 519 shares during the period. 76.56% of the stock is owned by institutional investors.
In other Invesco news, major shareholder Ltd. Invesco purchased 2,222,222 shares of the business’s stock in a transaction on Monday, June 10th. The stock was bought at an average cost of $4.50 per share, with a total value of $9,999,999.00. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director G Richard Wagoner, Jr. purchased 10,000 shares of the business’s stock in a transaction on Friday, June 7th. The stock was acquired at an average cost of $20.71 per share, with a total value of $207,100.00. Following the completion of the acquisition, the director now directly owns 25,648 shares in the company, valued at approximately $531,170.08. The disclosure for this purchase can be found here. Insiders acquired a total of 2,242,222 shares of company stock valued at $10,405,499 over the last three months. 1.90% of the stock is owned by corporate insiders.
NYSE IVZ traded down $0.57 on Monday, reaching $17.27. The company’s stock had a trading volume of 135,663 shares, compared to its average volume of 5,848,380. Invesco Ltd. has a twelve month low of $15.38 and a twelve month high of $25.82. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $7.15 billion, a PE ratio of 7.10, a PEG ratio of 0.88 and a beta of 1.51. The business has a 50 day moving average price of $20.10.
Invesco (NYSE:IVZ) last issued its quarterly earnings results on Thursday, July 25th. The asset manager reported $0.65 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.08. Invesco had a net margin of 11.45% and a return on equity of 10.23%. The company had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the prior year, the company earned $0.66 EPS. Invesco’s revenue was up 5.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Invesco Ltd. will post 2.42 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th will be issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 7.18%. The ex-dividend date of this dividend is Wednesday, August 14th. Invesco’s payout ratio is 51.03%.
IVZ has been the subject of several research analyst reports. Edward Jones downgraded shares of Invesco from a “buy” rating to a “hold” rating in a report on Thursday, April 11th. Jefferies Financial Group downgraded shares of Invesco from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $24.00 to $23.00 in a report on Friday, June 7th. Deutsche Bank set a $21.00 price objective on shares of Invesco and gave the stock a “hold” rating in a report on Friday, July 26th. Zacks Investment Research downgraded shares of Invesco from a “buy” rating to a “hold” rating in a report on Wednesday, May 22nd. Finally, Citigroup set a $20.00 price objective on shares of Invesco and gave the stock a “hold” rating in a report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $22.36.
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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