Allspring Global Investments Holdings LLC Boosts Position in Invesco Ltd. (NYSE:IVZ)

Allspring Global Investments Holdings LLC increased its holdings in shares of Invesco Ltd. (NYSE:IVZ) by 188.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 345,792 shares of the asset manager’s stock after purchasing an additional 225,906 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.08% of Invesco worth $5,813,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Robeco Institutional Asset Management B.V. grew its position in Invesco by 162.1% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 1,462,950 shares of the asset manager’s stock valued at $24,592,000 after acquiring an additional 904,855 shares in the last quarter. Trilogy Capital Inc. lifted its stake in Invesco by 9.7% during the second quarter. Trilogy Capital Inc. now owns 147,071 shares of the asset manager’s stock worth $2,624,000 after purchasing an additional 12,976 shares during the last quarter. Creative Planning lifted its stake in Invesco by 12.5% during the second quarter. Creative Planning now owns 27,085 shares of the asset manager’s stock worth $455,000 after purchasing an additional 3,018 shares during the last quarter. Insight Folios Inc lifted its stake in Invesco by 6.0% during the second quarter. Insight Folios Inc now owns 393,414 shares of the asset manager’s stock worth $6,613,000 after purchasing an additional 22,367 shares during the last quarter. Finally, Quilter Plc purchased a new stake in Invesco during the second quarter worth approximately $2,227,691,000. 66.27% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, major shareholder Invesco Realty, Inc. acquired 796,323 shares of Invesco stock in a transaction dated Monday, October 2nd. The shares were acquired at an average cost of $25.12 per share, for a total transaction of $20,003,633.76. Following the completion of the transaction, the insider now directly owns 1,052,487 shares of the company’s stock, valued at $26,438,473.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on IVZ shares. JPMorgan Chase & Co. boosted their price objective on Invesco from $15.00 to $15.50 and gave the company a “neutral” rating in a research note on Wednesday, October 25th. Wells Fargo & Company reduced their price objective on Invesco from $19.00 to $16.00 in a research note on Thursday, October 12th. Citigroup reduced their price objective on Invesco from $19.00 to $15.75 and set a “neutral” rating for the company in a research note on Monday, September 25th. The Goldman Sachs Group reduced their price objective on Invesco from $15.50 to $14.00 and set a “neutral” rating for the company in a research note on Wednesday, October 25th. Finally, Morgan Stanley cut their price target on Invesco from $16.00 to $15.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 25th. One analyst has rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $16.48.

Invesco Stock Up 3.6 %

Invesco stock opened at $13.54 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 5.15 and a current ratio of 28.81. The firm has a market capitalization of $6.07 billion, a price-to-earnings ratio of 10.34, a price-to-earnings-growth ratio of 1.77 and a beta of 1.43. Invesco Ltd. has a fifty-two week low of $12.48 and a fifty-two week high of $20.56. The stock’s fifty day moving average is $14.27 and its two-hundred day moving average is $15.62.

Invesco (NYSE:IVZ) last posted its earnings results on Tuesday, October 24th. The asset manager reported $0.35 earnings per share for the quarter, meeting the consensus estimate of $0.35. Invesco had a return on equity of 6.83% and a net margin of 14.50%. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same quarter in the prior year, the company earned $0.34 earnings per share. Invesco’s revenue was down 1.1% compared to the same quarter last year. Analysts predict that Invesco Ltd. will post 1.44 EPS for the current fiscal year.

Invesco Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 4th. Stockholders of record on Friday, November 10th will be given a $0.20 dividend. The ex-dividend date of this dividend is Thursday, November 9th. This represents a $0.80 annualized dividend and a dividend yield of 5.91%. Invesco’s dividend payout ratio is currently 61.07%.

Invesco Company Profile

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.