Cadence Capital Management LLC lifted its stake in Invesco Ltd. (NYSE:IVZ) by 15.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 74,849 shares of the asset manager’s stock after buying an additional 9,922 shares during the period. Cadence Capital Management LLC’s holdings in Invesco were worth $1,713,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently modified their holdings of the company. Sun Life Financial INC grew its position in Invesco by 3,034.1% during the 2nd quarter. Sun Life Financial INC now owns 4,137 shares of the asset manager’s stock worth $110,000 after acquiring an additional 4,005 shares during the last quarter. First Interstate Bank grew its position in Invesco by 89.2% during the 2nd quarter. First Interstate Bank now owns 4,500 shares of the asset manager’s stock worth $120,000 after acquiring an additional 2,122 shares during the last quarter. Creative Financial Designs Inc. ADV bought a new stake in Invesco during the 3rd quarter worth approximately $173,000. Bessemer Group Inc. grew its position in Invesco by 51.4% during the 2nd quarter. Bessemer Group Inc. now owns 6,706 shares of the asset manager’s stock worth $178,000 after acquiring an additional 2,277 shares during the last quarter. Finally, Private Capital Group LLC grew its position in Invesco by 134.0% during the 2nd quarter. Private Capital Group LLC now owns 7,080 shares of the asset manager’s stock worth $188,000 after acquiring an additional 4,055 shares during the last quarter. 79.32% of the stock is owned by institutional investors and hedge funds.
IVZ has been the topic of a number of research analyst reports. Deutsche Bank increased their price target on Invesco from $29.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, September 27th. Royal Bank of Canada restated a “buy” rating and set a $35.00 price target on shares of Invesco in a research report on Friday, July 27th. JPMorgan Chase & Co. set a $29.00 price target on Invesco and gave the stock a “buy” rating in a research report on Monday, September 24th. Morgan Stanley decreased their price target 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, Zacks Investment Research upgraded Invesco from a “sell” rating to a “hold” rating in a research report on Monday, September 24th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $30.73.
Shares of IVZ opened at $20.88 on Friday. The firm has a market capitalization of $8.93 billion, a price-to-earnings ratio of 7.73, a PEG ratio of 0.92 and a beta of 1.52. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.55 and a current ratio of 1.55. Invesco Ltd. has a 52 week low of $19.66 and a 52 week high of $38.43.
Invesco (NYSE:IVZ) last announced its quarterly earnings data on Thursday, October 18th. The asset manager reported $0.66 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.66. The firm had revenue of $966.90 million for the quarter, compared to analyst estimates of $972.49 million. Invesco had a return on equity of 12.25% 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 last year, the company earned $0.71 EPS. Analysts forecast that Invesco Ltd. will post 2.66 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 given 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 5.75%. Invesco’s payout ratio is 44.44%.
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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