Mm Asset Management Holding Ll Acquires 827,590 Shares of Invesco Ltd. (NYSE:IVZ) Stock

Invesco Ltd. (NYSE:IVZGet Rating) major shareholder Mm Asset Management Holding Ll purchased 827,590 shares of the company’s stock in a transaction that occurred on Monday, June 13th. The shares were purchased at an average price of $16.08 per share, for a total transaction of $13,307,647.20. Following the completion of the transaction, the insider now directly owns 80,504,729 shares of the company’s stock, valued at $1,294,516,042.32. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

NYSE:IVZ traded up $0.18 during trading hours on Wednesday, reaching $16.42. 4,523,677 shares of the company traded hands, compared to its average volume of 4,729,076. Invesco Ltd. has a 1 year low of $15.82 and a 1 year high of $28.89. The business’s 50-day moving average price is $19.23 and its two-hundred day moving average price is $21.31. The company has a current ratio of 4.21, a quick ratio of 4.21 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $7.47 billion, a P/E ratio of 5.87, a P/E/G ratio of 1.17 and a beta of 1.25.

Invesco (NYSE:IVZGet Rating) last posted its quarterly earnings results on Tuesday, April 26th. The asset manager reported $0.56 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.05). Invesco had a return on equity of 13.70% and a net margin of 22.72%. The business had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter in the prior year, the firm earned $0.68 EPS. The firm’s revenue for the quarter was down 1.9% compared to the same quarter last year. As a group, equities analysts anticipate that Invesco Ltd. will post 2.47 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 2nd. Stockholders of record on Tuesday, May 10th were paid a $0.188 dividend. The ex-dividend date of this dividend was Monday, May 9th. This represents a $0.75 annualized dividend and a dividend yield of 4.58%. This is a boost from Invesco’s previous quarterly dividend of $0.17. Invesco’s payout ratio is currently 26.32%.

Several hedge funds have recently bought and sold shares of IVZ. New York State Common Retirement Fund increased its position in Invesco by 2.8% during the fourth quarter. New York State Common Retirement Fund now owns 1,182,402 shares of the asset manager’s stock valued at $27,219,000 after acquiring an additional 31,944 shares during the last quarter. JPMorgan Chase & Co. increased its position in Invesco by 36.7% during the fourth quarter. JPMorgan Chase & Co. now owns 5,099,792 shares of the asset manager’s stock valued at $117,398,000 after acquiring an additional 1,367,996 shares during the last quarter. Illinois Municipal Retirement Fund grew its holdings in Invesco by 25.7% during the fourth quarter. Illinois Municipal Retirement Fund now owns 85,698 shares of the asset manager’s stock valued at $1,973,000 after purchasing an additional 17,499 shares during the period. State Street Corp grew its holdings in Invesco by 1.5% during the fourth quarter. State Street Corp now owns 17,085,466 shares of the asset manager’s stock valued at $393,307,000 after purchasing an additional 255,634 shares during the period. Finally, CIBC Asset Management Inc grew its holdings in Invesco by 1.7% during the fourth quarter. CIBC Asset Management Inc now owns 38,050 shares of the asset manager’s stock valued at $876,000 after purchasing an additional 647 shares during the period. Hedge funds and other institutional investors own 67.53% of the company’s stock.

IVZ has been the topic of several research reports. StockNews.com lowered Invesco from a “hold” rating to a “sell” rating in a research report on Tuesday. Keefe, Bruyette & Woods lowered Invesco from an “outperform” rating to a “market perform” rating and set a $25.00 price target on the stock. in a research report on Tuesday, April 12th. BMO Capital Markets lowered Invesco from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $25.00 to $20.00 in a research report on Monday. Deutsche Bank Aktiengesellschaft lowered their price objective on Invesco from $24.00 to $21.00 in a research note on Thursday, May 19th. Finally, Morgan Stanley lowered their price objective on Invesco from $26.00 to $25.00 and set an “equal weight” rating for the company in a research note on Monday, April 25th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Invesco presently has an average rating of “Hold” and a consensus price target of $24.40.

Invesco Company Profile (Get Rating)

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.

Further Reading

Insider Buying and Selling by Quarter for Invesco (NYSE:IVZ)

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