Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Invesco Ltd. (NYSE:IVZ – Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 111,068 shares of the asset manager’s stock, valued at approximately $3,350,000.
Several other hedge funds have also made changes to their positions in the business. Dimensional Fund Advisors LP boosted its stake in Invesco by 2.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 21,361,119 shares of the asset manager’s stock worth $518,836,000 after buying an additional 596,434 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Invesco by 5.6% in the first quarter. Bank of New York Mellon Corp now owns 3,431,694 shares of the asset manager’s stock worth $83,356,000 after acquiring an additional 182,060 shares during the last quarter. Bank of America Corp DE grew its holdings in Invesco by 28.9% in the first quarter. Bank of America Corp DE now owns 2,654,290 shares of the asset manager’s stock valued at $64,473,000 after purchasing an additional 595,797 shares during the period. Quantinno Capital Management LP increased its position in Invesco by 24.1% during the first quarter. Quantinno Capital Management LP now owns 1,574,728 shares of the asset manager’s stock worth $38,250,000 after purchasing an additional 306,213 shares during the last quarter. Finally, Sei Investments Co. increased its position in Invesco by 19.9% during the first quarter. Sei Investments Co. now owns 1,396,191 shares of the asset manager’s stock worth $35,681,000 after purchasing an additional 231,926 shares during the last quarter. Institutional investors and hedge funds own 66.09% of the company’s stock.
Analyst Ratings Changes
A number of equities analysts have weighed in on the stock. Evercore set a $34.00 price target on shares of Invesco in a report on Friday, October 9th. Wall Street Zen lowered Invesco from a “buy” rating to a “hold” rating in a research report on Sunday, October 18th. UBS Group set a $36.00 target price on Invesco in a report on Tuesday, October 13th. Keefe, Bruyette & Woods assumed coverage on Invesco in a research report on Wednesday, September 9th. They set an “outperform” rating and a $39.00 price target for the company. Finally, Morgan Stanley upped their price target on Invesco from $31.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 22nd. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $33.79.
Check Out Our Latest Stock Report on Invesco
Insiders Place Their Bets
In other Invesco news, CFO Laura Dukes sold 31,075 shares of the company’s stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $33.16, for a total value of $1,030,447.00. Following the transaction, the chief financial officer directly owned 259,183 shares of the company’s stock, valued at $8,594,508.28. This represents a 10.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Phoebe Wood sold 3,000 shares of the stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $32.44, for a total value of $97,320.00. Following the transaction, the director owned 107,111 shares of the company’s stock, valued at approximately $3,474,680.84. This trade represents a 2.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 222,540 shares of company stock worth $7,227,167 in the last quarter. Company insiders own 1.40% of the company’s stock.
Invesco Stock Up 0.1%
IVZ stock traded up $0.01 during trading on Friday, reaching $27.09. The stock had a trading volume of 5,094,343 shares, compared to its average volume of 5,218,365. Invesco Ltd. has a 1-year low of $21.82 and a 1-year high of $33.66. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $12.01 billion, a P/E ratio of -39.27, a PEG ratio of 0.45 and a beta of 1.69. The firm has a fifty day moving average price of $30.06 and a 200 day moving average price of $27.99.
Invesco (NYSE:IVZ – Get Free Report) last announced its earnings results on Tuesday, October 27th. The asset manager reported $0.72 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.02). Invesco had a negative net margin of 1.10% and a positive return on equity of 12.65%. The business had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same quarter in the prior year, the business earned $0.61 earnings per share. The firm’s revenue was up 16.5% on a year-over-year basis. On average, equities analysts anticipate that Invesco Ltd. will post 2.80 earnings per share for the current year.
Invesco Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 2nd. Shareholders of record on Friday, November 13th will be paid a dividend of $0.2150 per share. This represents a $0.86 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date is Friday, November 13th. Invesco’s dividend payout ratio (DPR) is -124.64%.
Invesco Company Profile
Invesco Ltd. (NYSE: IVZ) is a global investment management company that provides investment products and services to individual investors, financial professionals, institutions and governments. The company manages assets across a range of strategies, including equities, fixed income, multi-asset portfolios, alternatives, money market funds and cash management.
Invesco offers mutual funds, exchange-traded funds, separately managed accounts, model portfolios and institutional investment solutions.
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