Invesco Ltd. $IVZ Stock: VIRGINIA RETIREMENT SYSTEMS ET Al Grows Holdings

VIRGINIA RETIREMENT SYSTEMS ET Al raised its position in shares of Invesco Ltd. (NYSE:IVZ) by 127.2% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 53,400 shares of the asset manager’s stock after purchasing an additional 29,900 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Invesco were worth $1,611,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Teachers Retirement System of The State of Kentucky raised its stake in shares of Invesco by 2,633.1% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 960,441 shares of the asset manager’s stock worth $23,330,000 after buying an additional 925,300 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Invesco by 2.9% in 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 buying an additional 596,434 shares during the period. Bank of America Corp DE boosted its stake in Invesco by 28.9% during the first quarter. Bank of America Corp DE now owns 2,654,290 shares of the asset manager’s stock valued at $64,473,000 after buying an additional 595,797 shares in the last quarter. Sonoma Allocations LLC bought a new position in Invesco during the second quarter valued at about $11,797,000. Finally, Engineers Gate Manager LP grew its holdings in Invesco by 47.0% during the second quarter. Engineers Gate Manager LP now owns 1,354,613 shares of the asset manager’s stock worth $35,748,000 after acquiring an additional 433,287 shares during the period. 66.09% of the stock is currently owned by institutional investors and hedge funds.

Invesco Stock Performance

Shares of NYSE IVZ opened at $29.45 on Thursday. The stock’s fifty day simple moving average is $30.30 and its 200 day simple moving average is $28.00. The stock has a market capitalization of $13.05 billion, a price-to-earnings ratio of -42.68, a PEG ratio of 0.42 and a beta of 1.69. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.36. Invesco Ltd. has a 52-week low of $21.82 and a 52-week high of $33.66.

Invesco (NYSE:IVZ) last announced its earnings results on Tuesday, October 27th. The asset manager reported $0.72 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.02). Invesco had a negative net margin of 1.10% and a positive return on equity of 12.65%. The company had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.38 billion. During the same period in the prior year, the company earned $0.61 earnings per share. The company’s revenue for the quarter was up 16.5% on a year-over-year basis. As a group, sell-side analysts forecast that Invesco Ltd. will post 2.80 earnings per share for the current fiscal year.

Invesco Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 2nd. Shareholders of record on Friday, November 13th will be issued a dividend of $0.2150 per share. This represents a $0.86 annualized dividend and a yield of 2.9%. The ex-dividend date is Friday, November 13th. Invesco’s payout ratio is presently -124.64%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Evercore set a $34.00 price target on shares of Invesco in a research report on Friday, October 9th. Morgan Stanley raised their price objective on shares of Invesco from $31.00 to $32.00 and gave the company an “equal weight” rating in a research report on Thursday, October 22nd. TD Cowen lowered their price objective on shares of Invesco from $39.00 to $38.00 and set a “buy” rating on the stock in a research note on Monday, October 12th. UBS Group set a $36.00 target price on shares of Invesco in a report on Tuesday, October 13th. Finally, BMO Capital Markets increased their target price on shares of Invesco from $34.00 to $36.00 and gave the company an “outperform” rating in a research note on Tuesday, October 13th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $33.79.

Insider Buying and Selling

In other Invesco news, Director Andrew Tak Shing Lo sold 100,840 shares of the firm’s stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $32.20, for a total value of $3,247,048.00. Following the completion of the transaction, the director directly owned 812,477 shares in the company, valued at $26,161,759.40. This trade represents a 11.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Laura Dukes sold 31,075 shares of Invesco stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $33.16, for a total transaction of $1,030,447.00. Following the completion of the transaction, the chief financial officer directly owned 259,183 shares in the company, valued at approximately $8,594,508.28. This trade represents a 10.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 222,540 shares of company stock worth $7,227,167 in the last quarter. 1.40% of the stock is currently owned by corporate insiders.

About Invesco

Invesco Ltd. (NYSE: IVZ) is a global investment management company that provides investment products and services to individual investors, financial professionals, institutions and governments. The company manages assets across a range of strategies, including equities, fixed income, multi-asset portfolios, alternatives, money market funds and cash management.

Invesco offers mutual funds, exchange-traded funds, separately managed accounts, model portfolios and institutional investment solutions.