Insider Selling: Invesco (NYSE:IVZ) Director Sells 160,000 Shares of Stock

Invesco Ltd. (NYSE:IVZ) Director Douglas Sharp sold 160,000 shares of the stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $23.56, for a total transaction of $3,769,600.00. Following the completion of the sale, the director owned 192 shares of the company’s stock, valued at approximately $4,523.52. This represents a 99.88% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Invesco Stock Performance

NYSE IVZ traded down $0.13 during trading hours on Monday, reaching $23.57. 2,436,452 shares of the company were exchanged, compared to its average volume of 5,458,774. Invesco Ltd. has a 1 year low of $11.60 and a 1 year high of $24.75. The business’s 50 day simple moving average is $22.76 and its 200-day simple moving average is $18.85. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $10.51 billion, a P/E ratio of 16.03, a P/E/G ratio of 0.85 and a beta of 1.66.

Invesco (NYSE:IVZ) last issued its earnings results on Tuesday, October 28th. The asset manager reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.17. Invesco had a net margin of 14.15% and a return on equity of 8.52%. The firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same quarter last year, the business earned $0.44 earnings per share. The company’s quarterly revenue was up 7.4% on a year-over-year basis. On average, equities research analysts expect that Invesco Ltd. will post 1.87 earnings per share for the current year.

Invesco Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 2nd. Shareholders of record on Friday, November 14th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a $0.84 annualized dividend and a dividend yield of 3.6%. Invesco’s dividend payout ratio (DPR) is 57.14%.

Wall Street Analysts Forecast Growth

IVZ has been the topic of several analyst reports. Bank of America lifted their target price on shares of Invesco from $23.00 to $25.00 and gave the stock a “neutral” rating in a research note on Thursday, October 2nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Invesco in a research report on Wednesday, October 8th. The Goldman Sachs Group upped their target price on shares of Invesco from $25.50 to $26.50 and gave the stock a “neutral” rating in a research report on Wednesday, October 29th. Royal Bank Of Canada increased their price objective on shares of Invesco from $23.00 to $25.00 and gave the company a “sector perform” rating in a research report on Thursday. Finally, Barclays upped their target price on shares of Invesco from $24.00 to $25.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 29th. Five research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company’s stock. According to MarketBeat, Invesco presently has a consensus rating of “Hold” and a consensus price target of $23.41.

Institutional Investors Weigh In On Invesco

A number of large investors have recently modified their holdings of IVZ. KLP Kapitalforvaltning AS raised its position in Invesco by 0.7% in the 3rd quarter. KLP Kapitalforvaltning AS now owns 97,000 shares of the asset manager’s stock valued at $2,225,000 after purchasing an additional 700 shares in the last quarter. D.A. Davidson & CO. increased its holdings in shares of Invesco by 1.6% in the first quarter. D.A. Davidson & CO. now owns 47,462 shares of the asset manager’s stock valued at $720,000 after purchasing an additional 755 shares during the period. IFP Advisors Inc grew its holdings in Invesco by 55.7% during the second quarter. IFP Advisors Inc now owns 2,127 shares of the asset manager’s stock worth $34,000 after acquiring an additional 761 shares during the period. Forum Financial Management LP grew its holdings in Invesco by 4.8% during the second quarter. Forum Financial Management LP now owns 17,327 shares of the asset manager’s stock worth $273,000 after acquiring an additional 791 shares during the period. Finally, EP Wealth Advisors LLC boosted its position in Invesco by 6.8% during the first quarter. EP Wealth Advisors LLC now owns 12,477 shares of the asset manager’s stock worth $189,000 after purchasing an additional 792 shares in the last quarter. Hedge funds and other institutional investors own 66.09% of the company’s stock.

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.