Carrera Capital Advisors Lowers Stock Holdings in Invesco Ltd. $IVZ

Carrera Capital Advisors trimmed its holdings in shares of Invesco Ltd. (NYSE:IVZ) by 86.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 10,940 shares of the asset manager’s stock after selling 68,553 shares during the period. Carrera Capital Advisors’ holdings in Invesco were worth $173,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the company. Federated Hermes Inc. grew its position in Invesco by 186.6% in the 1st quarter. Federated Hermes Inc. now owns 1,969 shares of the asset manager’s stock worth $30,000 after purchasing an additional 1,282 shares during the period. IFP Advisors Inc grew its position in Invesco by 55.7% in the 2nd quarter. IFP Advisors Inc now owns 2,127 shares of the asset manager’s stock worth $34,000 after purchasing an additional 761 shares during the period. SVB Wealth LLC bought a new stake in Invesco in the 1st quarter worth approximately $32,000. UMB Bank n.a. grew its position in Invesco by 45.8% in the 2nd quarter. UMB Bank n.a. now owns 2,623 shares of the asset manager’s stock worth $41,000 after purchasing an additional 824 shares during the period. Finally, Summit Securities Group LLC bought a new stake in Invesco in the 1st quarter worth approximately $41,000. 66.09% of the stock is currently owned by hedge funds and other institutional investors.

Invesco Stock Up 1.3%

Shares of IVZ stock opened at $22.97 on Friday. The stock has a market cap of $10.24 billion, a P/E ratio of 24.70, a PEG ratio of 0.81 and a beta of 1.66. Invesco Ltd. has a 52 week low of $11.60 and a 52 week high of $24.54. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.88. The company’s fifty day simple moving average is $22.48 and its two-hundred day simple moving average is $18.36.

Invesco (NYSE:IVZ) last announced its quarterly earnings results on Tuesday, July 22nd. The asset manager reported $0.36 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.05). The company had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.09 billion. Invesco had a return on equity of 8.60% and a net margin of 10.68%.The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.43 EPS. Analysts predict that Invesco Ltd. will post 1.87 EPS for the current fiscal year.

Wall Street Analyst Weigh In

IVZ has been the subject of a number of research analyst reports. Citigroup lifted their target price on shares of Invesco from $22.00 to $25.00 and gave the stock a “neutral” rating in a research report on Monday, September 29th. The Goldman Sachs Group lifted their target price on shares of Invesco from $16.25 to $16.75 and gave the stock a “neutral” rating in a research report on Friday, June 27th. Cowen reaffirmed a “buy” rating on shares of Invesco in a research report on Thursday, September 18th. TD Cowen raised shares of Invesco from a “hold” rating to a “buy” rating and boosted their price objective for the company from $17.50 to $25.00 in a research report on Monday, July 21st. Finally, Morgan Stanley reaffirmed a “positive” rating on shares of Invesco in a report on Monday, October 6th. Five research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $21.85.

Insider Buying and Selling

In other Invesco news, Director Stephanie Butcher sold 103,192 shares of the business’s stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $22.12, for a total value of $2,282,607.04. Following the sale, the director owned 29,855 shares in the company, valued at $660,392.60. The trade was a 77.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.21% of the stock is currently owned by insiders.

Invesco Profile

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.