VIRGINIA RETIREMENT SYSTEMS ET Al Invests $620,000 in Invesco Ltd. $IVZ

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Invesco Ltd. (NYSE:IVZ) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 23,500 shares of the asset manager’s stock, valued at approximately $620,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its stake in shares of Invesco by 2.9% during the first quarter. Dimensional Fund Advisors LP now owns 21,361,119 shares of the asset manager’s stock valued at $518,836,000 after acquiring an additional 596,434 shares during the last quarter. California State Teachers Retirement System lifted its holdings in Invesco by 2,495.9% in the 2nd quarter. California State Teachers Retirement System now owns 10,837,212 shares of the asset manager’s stock valued at $285,994,000 after purchasing an additional 10,419,736 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Invesco by 3.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 6,423,764 shares of the asset manager’s stock worth $168,752,000 after purchasing an additional 204,316 shares during the last quarter. Fisher Asset Management LLC grew its holdings in shares of Invesco by 6.0% during the fourth quarter. Fisher Asset Management LLC now owns 5,508,744 shares of the asset manager’s stock worth $144,715,000 after buying an additional 310,903 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Invesco during the fourth quarter worth about $102,523,000. 66.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Laura Dukes sold 31,075 shares of the stock in a transaction dated 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 completion of the transaction, the chief financial officer owned 259,183 shares of the company’s stock, valued at approximately $8,594,508.28. This represents a 10.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Stephanie Butcher sold 45,095 shares of the firm’s stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $32.28, for a total value of $1,455,666.60. Following the sale, the director owned 10,205 shares of the company’s stock, valued at approximately $329,417.40. This trade represents a 81.55% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 222,540 shares of company stock valued at $7,227,167. Corporate insiders own 1.40% of the company’s stock.

Analyst Ratings Changes

IVZ has been the subject of a number of analyst reports. Morgan Stanley boosted their price objective on shares of Invesco from $29.00 to $30.00 and gave the company an “equal weight” rating in a research report on Friday, July 17th. Keefe, Bruyette & Woods started coverage on shares of Invesco in a research note on Wednesday, September 9th. They issued an “outperform” rating and a $39.00 target price for the company. Evercore set a $35.00 price target on Invesco in a report on Monday, August 10th. Zacks Research downgraded Invesco from a “strong-buy” rating to a “hold” rating in a report on Monday, September 7th. Finally, Jefferies Financial Group raised Invesco to a “hold” rating in a research note on Tuesday, June 30th. Four research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $31.46.

Invesco Trading Down 2.4%

NYSE IVZ opened at $31.50 on Tuesday. The company’s fifty day simple moving average is $31.09 and its 200-day simple moving average is $27.75. Invesco Ltd. has a 52 week low of $20.67 and a 52 week 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 1.00. The stock has a market cap of $13.97 billion, a P/E ratio of -46.33, a PEG ratio of 0.47 and a beta of 1.63.

Invesco (NYSE:IVZ) last released its quarterly earnings results on Tuesday, July 28th. The asset manager reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.04. The business had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.32 billion. Invesco had a negative net margin of 0.93% and a positive return on equity of 12.83%. The business’s revenue was up 20.5% on a year-over-year basis. During the same period last year, the business earned $0.36 EPS. Equities research analysts predict that Invesco Ltd. will post 2.82 EPS for the current fiscal year.

Invesco Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 2nd. Shareholders of record on Friday, August 14th were given a $0.215 dividend. This represents a $0.86 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend was Friday, August 14th. Invesco’s dividend payout ratio is presently -126.47%.

Invesco Profile

Invesco Ltd. (NYSE: IVZ) is a global investment management company that provides investment products and services to individuals, financial advisers, institutions and other clients. The company manages assets across a range of strategies, including active and passive equities, fixed income, multi-asset portfolios, alternatives and private markets.

Its offerings include mutual funds, exchange-traded funds, separately managed accounts, institutional investment mandates and other portfolio solutions.