Synovus Financial Corp lowered its position in shares of Invesco Ltd. (NYSE:IVZ) by 22.7% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 14,463 shares of the asset manager’s stock after selling 4,236 shares during the quarter. Synovus Financial Corp’s holdings in Invesco were worth $332,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Xact Kapitalforvaltning AB lifted its holdings in shares of Invesco by 2.2% during the second quarter. Xact Kapitalforvaltning AB now owns 97,871 shares of the asset manager’s stock worth $2,599,000 after buying an additional 2,100 shares in the last quarter. HPM Partners LLC lifted its holdings in shares of Invesco by 4.7% during the second quarter. HPM Partners LLC now owns 46,858 shares of the asset manager’s stock worth $1,245,000 after buying an additional 2,109 shares in the last quarter. First Interstate Bank lifted its holdings in shares of Invesco by 89.2% during the second quarter. First Interstate Bank now owns 4,500 shares of the asset manager’s stock worth $120,000 after buying an additional 2,122 shares in the last quarter. Buckingham Capital Management Inc. increased its position in shares of Invesco by 6.7% in the second quarter. Buckingham Capital Management Inc. now owns 34,285 shares of the asset manager’s stock worth $911,000 after purchasing an additional 2,143 shares during the period. Finally, Nissay Asset Management Corp Japan ADV increased its position in shares of Invesco by 2.8% in the second quarter. Nissay Asset Management Corp Japan ADV now owns 81,751 shares of the asset manager’s stock worth $2,171,000 after purchasing an additional 2,198 shares during the period. 79.32% of the stock is owned by institutional investors.
NYSE:IVZ opened at $21.78 on Friday. The stock has a market cap of $8.93 billion, a PE ratio of 8.07, a PEG ratio of 0.92 and a beta of 1.52. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.82. Invesco Ltd. has a 1-year low of $19.66 and a 1-year high of $38.43.
Invesco (NYSE:IVZ) last released its quarterly earnings results on Thursday, October 18th. The asset manager reported $0.66 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.66. The company had revenue of $966.90 million for the quarter, compared to analysts’ expectations of $972.49 million. Invesco had a return on equity of 12.25% and a net margin of 21.66%. The business’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.71 earnings per share. As a group, sell-side analysts anticipate that Invesco Ltd. will post 2.66 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 3rd. Shareholders of record on Tuesday, November 13th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 5.51%. The ex-dividend date of this dividend is Friday, November 9th. Invesco’s dividend payout ratio (DPR) is presently 44.44%.
IVZ has been the topic of a number of recent analyst reports. UBS Group decreased their price target on Invesco from $26.00 to $24.00 and set a “neutral” rating on the stock in a research report on Monday, October 8th. Morgan Stanley decreased their price target on Invesco from $29.00 to $28.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 9th. Zacks Investment Research upgraded Invesco from a “sell” rating to a “hold” rating in a research report on Monday, September 24th. Credit Suisse Group restated a “neutral” rating and issued a $27.00 price target (down previously from $34.00) on shares of Invesco in a research report on Friday, October 19th. Finally, Deutsche Bank decreased their price target on Invesco from $30.00 to $27.00 and set a “buy” rating on the stock in a research report on Thursday, October 11th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. Invesco has an average rating of “Hold” and a consensus price target of $30.73.
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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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