Invesco Ltd. (NYSE:IVZ) Shares Sold by abrdn plc

abrdn plc decreased its stake in Invesco Ltd. (NYSE:IVZGet Rating) by 23.5% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 148,658 shares of the asset manager’s stock after selling 45,645 shares during the quarter. abrdn plc’s holdings in Invesco were worth $3,468,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. New York State Common Retirement Fund boosted its position in shares of Invesco by 2.8% in the fourth quarter. New York State Common Retirement Fund now owns 1,182,402 shares of the asset manager’s stock worth $27,219,000 after buying an additional 31,944 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Invesco by 36.7% in the fourth quarter. JPMorgan Chase & Co. now owns 5,099,792 shares of the asset manager’s stock worth $117,398,000 after buying an additional 1,367,996 shares during the period. Illinois Municipal Retirement Fund boosted its position in shares of Invesco by 25.7% in the fourth quarter. Illinois Municipal Retirement Fund now owns 85,698 shares of the asset manager’s stock worth $1,973,000 after buying an additional 17,499 shares during the period. Insight Folios Inc boosted its holdings in Invesco by 8.2% in the first quarter. Insight Folios Inc now owns 251,021 shares of the asset manager’s stock valued at $5,794,000 after purchasing an additional 19,109 shares during the last quarter. Finally, State Street Corp boosted its holdings in Invesco by 1.5% in 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 last quarter. Hedge funds and other institutional investors own 67.53% of the company’s stock.

Invesco Stock Up 2.8 %

Shares of Invesco stock opened at $17.74 on Monday. 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 business’s 50 day simple moving average is $17.21 and its 200-day simple moving average is $19.77. The stock has a market capitalization of $8.07 billion, a price-to-earnings ratio of 6.22, a PEG ratio of 1.29 and a beta of 1.28. Invesco Ltd. has a twelve month low of $15.20 and a twelve month high of $27.03.

Invesco (NYSE:IVZGet Rating) last announced its quarterly earnings results on Wednesday, July 27th. The asset manager reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.20). The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.18 billion. Invesco had a return on equity of 13.70% and a net margin of 22.72%. The firm’s revenue for the quarter was down 9.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.78 earnings per share. Equities research analysts forecast that Invesco Ltd. will post 2.22 earnings per share for the current year.

Invesco Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 2nd. Stockholders of record on Friday, August 12th will be given a dividend of $0.188 per share. This represents a $0.75 dividend on an annualized basis and a dividend yield of 4.24%. The ex-dividend date is Thursday, August 11th. Invesco’s payout ratio is 26.32%.

Analysts Set New Price Targets

A number of brokerages recently commented on IVZ. Citigroup reduced their price target on Invesco from $26.00 to $22.50 in a report on Wednesday, April 27th. Morgan Stanley reissued a “maintains” rating and issued a $16.00 price target (down previously from $17.00) on shares of Invesco in a report on Thursday. UBS Group reduced their price target on Invesco from $27.00 to $21.00 in a report on Monday, July 11th. Keefe, Bruyette & Woods reduced their target price on Invesco from $21.00 to $18.00 and set a “market perform” rating on the stock in a report on Tuesday, June 28th. Finally, StockNews.com downgraded Invesco from a “hold” rating to a “sell” rating in a report on Wednesday, July 27th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Invesco has a consensus rating of “Hold” and a consensus target price of $20.59.

Insider Activity at Invesco

In other Invesco news, major shareholder Mm Asset Management Holding Ll bought 827,590 shares of the stock in a transaction that occurred on Monday, June 13th. The shares were purchased at an average cost of $16.08 per share, for a total transaction of $13,307,647.20. Following the transaction, the insider now directly owns 80,504,729 shares in the company, valued at $1,294,516,042.32. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Invesco news, major shareholder Mm Asset Management Holding Ll bought 827,590 shares of the stock in a transaction that occurred on Monday, June 13th. The shares were purchased at an average cost of $16.08 per share, for a total transaction of $13,307,647.20. Following the transaction, the insider now directly owns 80,504,729 shares in the company, valued at $1,294,516,042.32. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Terry Vacheron bought 4,000 shares of the stock in a transaction that occurred on Tuesday, May 10th. The stock was acquired at an average price of $17.40 per share, for a total transaction of $69,600.00. Following the completion of the transaction, the chief accounting officer now owns 10,696 shares in the company, valued at $186,110.40. The disclosure for this purchase can be found here. 1.94% of the stock is owned by insiders.

Invesco Company Profile

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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.

Further Reading

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Institutional Ownership by Quarter for Invesco (NYSE:IVZ)

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