Huntington National Bank decreased its holdings in shares of Invesco Ltd. (NYSE:IVZ) by 23.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,223 shares of the asset manager’s stock after selling 3,103 shares during the period. Huntington National Bank’s holdings in Invesco were worth $234,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also made changes to their positions in IVZ. American Century Companies Inc. lifted its position in shares of Invesco by 41.3% during the 2nd quarter. American Century Companies Inc. now owns 16,442,516 shares of the asset manager’s stock valued at $436,713,000 after buying an additional 4,801,968 shares in the last quarter. Renaissance Technologies LLC purchased a new position in shares of Invesco during the 2nd quarter valued at approximately $46,717,000. Federated Investors Inc. PA lifted its position in shares of Invesco by 181.4% during the 2nd quarter. Federated Investors Inc. PA now owns 2,375,762 shares of the asset manager’s stock valued at $63,100,000 after buying an additional 1,531,418 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Invesco by 48.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 4,395,993 shares of the asset manager’s stock valued at $116,758,000 after buying an additional 1,424,944 shares in the last quarter. Finally, Letko Brosseau & Associates Inc. purchased a new position in shares of Invesco during the 2nd quarter valued at approximately $25,336,000. Hedge funds and other institutional investors own 78.79% of the company’s stock.
Shares of IVZ stock opened at $21.11 on Tuesday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.51 and a current ratio of 1.51. The firm has a market capitalization of $9.03 billion, a price-to-earnings ratio of 8.08, a PEG ratio of 0.91 and a beta of 1.65. Invesco Ltd. has a fifty-two week low of $19.66 and a fifty-two week high of $38.43.
Invesco (NYSE:IVZ) last announced its quarterly earnings data on Thursday, October 18th. The asset manager reported $0.66 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.66. The company had revenue of $966.90 million for the quarter, compared to analyst estimates of $972.49 million. Invesco had a return on equity of 12.32% and a net margin of 21.66%. The firm’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.71 EPS. Sell-side analysts expect that Invesco Ltd. will post 2.67 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 3rd. Shareholders of record on Tuesday, November 13th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Friday, November 9th. This represents a $1.20 dividend on an annualized basis and a yield of 5.68%. Invesco’s payout ratio is currently 44.44%.
A number of research analysts have recently issued reports on the company. Zacks Investment Research upgraded Invesco from a “sell” rating to a “hold” rating in a research report on Thursday, June 28th. Credit Suisse Group decreased their target price on Invesco from $39.00 to $37.00 and set an “outperform” rating on the stock in a research report on Friday, July 27th. JPMorgan Chase & Co. decreased their target price on Invesco from $34.00 to $29.00 and set an “overweight” rating on the stock in a research report on Friday, July 27th. Morgan Stanley decreased their target price on Invesco from $31.00 to $29.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 2nd. Finally, Royal Bank of Canada reiterated a “buy” rating and set a $35.00 target price on shares of Invesco in a research report on Friday, July 27th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $32.62.
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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