American Century Companies Inc. boosted its position in Invesco Ltd. (NYSE:IVZ) by 41.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,442,516 shares of the asset manager’s stock after buying an additional 4,801,968 shares during the quarter. American Century Companies Inc. owned approximately 4.00% of Invesco worth $436,713,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Signaturefd LLC acquired a new stake in Invesco in the 1st quarter worth $100,000. Silvant Capital Management LLC acquired a new stake in Invesco in the 1st quarter worth $103,000. First Interstate Bank grew its position in Invesco by 89.2% in the 2nd quarter. First Interstate Bank now owns 4,500 shares of the asset manager’s stock worth $120,000 after purchasing an additional 2,122 shares during the last quarter. Bessemer Group Inc. grew its position in Invesco by 51.4% in the 2nd quarter. Bessemer Group Inc. now owns 6,706 shares of the asset manager’s stock worth $178,000 after purchasing an additional 2,277 shares during the last quarter. Finally, Commerzbank Aktiengesellschaft FI acquired a new stake in Invesco in the 1st quarter worth $210,000. Institutional investors own 79.58% of the company’s stock.
Several analysts have recently weighed in on the stock. UBS Group lifted their price target on shares of Invesco from $30.00 to $31.00 and gave the company a “neutral” rating in a report on Thursday, May 24th. ValuEngine downgraded shares of Invesco from a “hold” rating to a “sell” rating in a report on Wednesday, May 2nd. Deutsche Bank cut their price target on shares of Invesco from $31.00 to $30.00 and set a “buy” rating for the company in a report on Thursday. JPMorgan Chase & Co. cut their price target on shares of Invesco from $34.00 to $29.00 and set an “overweight” rating for the company in a report on Friday, July 27th. Finally, Keefe, Bruyette & Woods downgraded shares of Invesco from an “outperform” rating to a “market perform” rating in a report on Friday, July 13th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company’s stock. Invesco has an average rating of “Hold” and a consensus target price of $35.79.
In related news, major shareholder Ltd. Invesco purchased 2,127,659 shares of Invesco stock in a transaction dated Tuesday, May 22nd. The stock was bought at an average price of $4.69 per share, for a total transaction of $9,978,720.71. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.80% of the stock is currently owned by insiders.
Shares of NYSE IVZ opened at $24.48 on Friday. Invesco Ltd. has a 1-year low of $24.13 and a 1-year high of $38.43. The stock has a market capitalization of $10.15 billion, a price-to-earnings ratio of 9.07, a P/E/G ratio of 1.01 and a beta of 1.70. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.87.
Invesco (NYSE:IVZ) last posted its quarterly earnings results on Thursday, July 26th. The asset manager reported $0.66 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.66. The business had revenue of $974.00 million during the quarter, compared to the consensus estimate of $960.91 million. Invesco had a net margin of 21.64% and a return on equity of 12.70%. Invesco’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.64 earnings per share. equities research analysts anticipate that Invesco Ltd. will post 2.72 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 4th. Investors of record on Thursday, August 16th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 4.90%. The ex-dividend date is Wednesday, August 15th. Invesco’s dividend payout ratio is currently 44.44%.
Invesco Company 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.
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