Wedmont Private Capital Increases Stake in Invesco Ltd. $IVZ

Wedmont Private Capital lifted its stake in shares of Invesco Ltd. (NYSE:IVZ) by 39.1% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 17,162 shares of the asset manager’s stock after acquiring an additional 4,822 shares during the period. Wedmont Private Capital’s holdings in Invesco were worth $291,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of IVZ. Goldman Sachs Group Inc. raised its holdings in shares of Invesco by 99.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 7,026,920 shares of the asset manager’s stock worth $106,598,000 after acquiring an additional 3,507,150 shares during the period. AQR Capital Management LLC raised its holdings in shares of Invesco by 35.4% during the 1st quarter. AQR Capital Management LLC now owns 11,028,524 shares of the asset manager’s stock worth $165,262,000 after acquiring an additional 2,882,928 shares during the period. Nuveen LLC purchased a new stake in Invesco in the 1st quarter valued at about $29,138,000. Jefferies Financial Group Inc. purchased a new stake in Invesco in the 1st quarter valued at about $14,433,000. Finally, Principal Financial Group Inc. raised its holdings in Invesco by 177.3% in 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 buying an additional 894,105 shares during the period. Hedge funds and other institutional investors own 66.09% of the company’s stock.

Insiders Place Their Bets

In related news, Director Stephanie Butcher sold 103,192 shares of the company’s stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $22.12, for a total transaction of $2,282,607.04. Following the transaction, the director owned 29,855 shares of the company’s stock, valued at $660,392.60. This represents a 77.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.21% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on IVZ shares. Morgan Stanley lifted their target price on Invesco from $15.00 to $16.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 2nd. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $16.00 target price (up from $14.00) on shares of Invesco in a research report on Thursday, July 10th. Wells Fargo & Company raised Invesco from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $14.50 to $18.00 in a research report on Friday, July 11th. Zacks Research raised Invesco to a “hold” rating in a research report on Tuesday, August 12th. Finally, Cowen reaffirmed a “buy” rating on shares of Invesco in a research report on Thursday. Four research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $19.38.

Invesco Price Performance

IVZ stock opened at $22.47 on Monday. The business has a 50 day moving average price of $21.14 and a 200 day moving average price of $16.98. The stock has a market cap of $10.02 billion, a price-to-earnings ratio of 24.16, a PEG ratio of 1.27 and a beta of 1.58. Invesco Ltd. has a fifty-two week low of $11.60 and a fifty-two week high of $22.78. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.88.

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

Invesco Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Thursday, August 14th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 3.7%. The ex-dividend date was Thursday, August 14th. Invesco’s dividend payout ratio is 90.32%.

Invesco 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.