Federated Hermes Inc. Boosts Stake in Invesco Ltd. (NYSE:IVZ)

Federated Hermes Inc. grew its position in Invesco Ltd. (NYSE:IVZ) by 186.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,969 shares of the asset manager’s stock after acquiring an additional 1,282 shares during the quarter. Federated Hermes Inc.’s holdings in Invesco were worth $30,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. AQR Capital Management LLC raised its stake in Invesco by 38.5% during the 4th quarter. AQR Capital Management LLC now owns 8,145,596 shares of the asset manager’s stock valued at $142,385,000 after acquiring an additional 2,264,551 shares during the last quarter. Deutsche Bank AG raised its stake in Invesco by 58.6% during the 4th quarter. Deutsche Bank AG now owns 3,334,598 shares of the asset manager’s stock valued at $58,289,000 after acquiring an additional 1,232,359 shares during the last quarter. Principal Financial Group Inc. raised its stake in Invesco by 177.3% during the 1st quarter. Principal Financial Group Inc. now owns 1,398,364 shares of the asset manager’s stock valued at $21,213,000 after acquiring an additional 894,105 shares during the last quarter. Northern Trust Corp raised its stake in Invesco by 15.1% during the 4th quarter. Northern Trust Corp now owns 6,361,463 shares of the asset manager’s stock valued at $111,198,000 after acquiring an additional 834,581 shares during the last quarter. Finally, Royal Bank of Canada raised its stake in Invesco by 201.1% during the 4th quarter. Royal Bank of Canada now owns 1,035,657 shares of the asset manager’s stock valued at $18,103,000 after acquiring an additional 691,704 shares during the last quarter. 66.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

IVZ has been the subject of several analyst reports. The Goldman Sachs Group upped their price objective on Invesco from $16.25 to $16.75 and gave the company a “neutral” rating in a research note on Friday, June 27th. Morgan Stanley upped their price objective on Invesco from $15.00 to $16.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 2nd. Barclays boosted their target price on Invesco from $17.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 23rd. TD Cowen upgraded Invesco from a “hold” rating to a “buy” rating and boosted their target price for the stock from $17.50 to $25.00 in a research report on Monday, July 21st. Finally, Evercore ISI boosted their target price on Invesco from $13.00 to $15.00 and gave the stock an “in-line” rating in a research report on Wednesday, April 23rd. Fourteen investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $18.78.

Invesco Trading Down 1.4%

Shares of IVZ opened at $20.44 on Tuesday. The stock’s 50-day moving average is $17.50 and its two-hundred day moving average is $16.22. The stock has a market cap of $9.11 billion, a PE ratio of 21.98, a P/E/G ratio of 1.13 and a beta of 1.55. Invesco Ltd. has a 12 month low of $11.60 and a 12 month high of $21.85. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.30 and a quick ratio of 1.30.

Invesco (NYSE:IVZ) last released its quarterly earnings results on Tuesday, July 22nd. The asset manager reported $0.36 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.05). Invesco had a return on equity of 8.60% and a net margin of 10.68%. The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same quarter last year, the firm posted $0.43 EPS. The company’s revenue was up 2.2% compared to the same quarter last year. Equities analysts forecast that Invesco Ltd. will post 1.87 earnings per share for the current fiscal year.

Invesco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Thursday, August 14th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend is Thursday, August 14th. Invesco’s payout ratio is currently 90.32%.

About Invesco

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.