Horizon Investments LLC boosted its position in Invesco Ltd. (NYSE:IVZ – Get Rating) by 28.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 49,608 shares of the asset manager’s stock after purchasing an additional 11,087 shares during the period. Horizon Investments LLC’s holdings in Invesco were worth $1,133,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of the company. Raymond James Financial Services Advisors Inc. increased its stake in shares of Invesco by 3.5% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 23,952 shares of the asset manager’s stock valued at $551,000 after buying an additional 806 shares during the period. Campbell & CO Investment Adviser LLC acquired a new position in Invesco in the 4th quarter valued at approximately $234,000. Citigroup Inc. raised its stake in shares of Invesco by 16.2% during the fourth quarter. Citigroup Inc. now owns 484,967 shares of the asset manager’s stock valued at $11,164,000 after acquiring an additional 67,447 shares during the last quarter. Rafferty Asset Management LLC lifted its holdings in shares of Invesco by 15.4% during the fourth quarter. Rafferty Asset Management LLC now owns 214,942 shares of the asset manager’s stock worth $4,948,000 after purchasing an additional 28,669 shares during the period. Finally, Qube Research & Technologies Ltd bought a new stake in shares of Invesco in the fourth quarter worth $2,079,000. Institutional investors and hedge funds own 83.58% of the company’s stock.
Analyst Upgrades and Downgrades
IVZ has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft raised their target price on Invesco from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, August 12th. UBS Group cut their price objective on Invesco from $21.00 to $20.00 and set a “buy” rating on the stock in a research note on Monday, August 1st. Keefe, Bruyette & Woods decreased their target price on shares of Invesco from $21.00 to $18.00 and set a “market perform” rating for the company in a research report on Tuesday, June 28th. JPMorgan Chase & Co. dropped their price target on shares of Invesco from $22.00 to $20.00 in a research report on Monday, July 18th. Finally, The Goldman Sachs Group decreased their price objective on shares of Invesco from $21.50 to $18.00 and set a “neutral” rating for the company in a research report on Wednesday, June 29th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $20.68.
Invesco Stock Up 1.3 %
Invesco (NYSE:IVZ – Get Rating) last issued its earnings results on Wednesday, July 27th. The asset manager reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.20). The firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.18 billion. Invesco had a return on equity of 12.05% and a net margin of 19.67%. Invesco’s revenue for the quarter was down 9.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.78 earnings per share. On average, research analysts expect that Invesco Ltd. will post 1.94 earnings per share for the current fiscal year.
Invesco Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, September 2nd. Stockholders of record on Friday, August 12th were given a dividend of $0.188 per share. This represents a $0.75 annualized dividend and a dividend yield of 4.28%. The ex-dividend date was Thursday, August 11th. Invesco’s payout ratio is presently 32.33%.
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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