Invesco Ltd. $IVZ Position Reduced by State of Alaska Department of Revenue

State of Alaska Department of Revenue trimmed its stake in shares of Invesco Ltd. (NYSE:IVZ) by 4.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 50,286 shares of the asset manager’s stock after selling 2,215 shares during the quarter. State of Alaska Department of Revenue’s holdings in Invesco were worth $793,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. CX Institutional boosted its stake in Invesco by 50.5% during the 2nd quarter. CX Institutional now owns 16,829 shares of the asset manager’s stock valued at $265,000 after acquiring an additional 5,645 shares during the last quarter. Public Employees Retirement System of Ohio boosted its stake in Invesco by 0.8% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 121,282 shares of the asset manager’s stock valued at $1,913,000 after acquiring an additional 973 shares during the last quarter. GAMMA Investing LLC boosted its stake in Invesco by 30.8% during the 2nd quarter. GAMMA Investing LLC now owns 29,589 shares of the asset manager’s stock valued at $467,000 after acquiring an additional 6,973 shares during the last quarter. Park Avenue Securities LLC bought a new position in Invesco during the 2nd quarter valued at $263,000. Finally, UMB Bank n.a. boosted its stake in Invesco by 45.8% during the 2nd quarter. UMB Bank n.a. now owns 2,623 shares of the asset manager’s stock valued at $41,000 after acquiring an additional 824 shares during the last quarter. 66.09% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on IVZ. TD Cowen upgraded shares of Invesco from a “hold” rating to a “buy” rating and increased their price objective for the company from $17.50 to $25.00 in a research note on Monday, July 21st. Weiss Ratings reissued a “hold (c)” rating on shares of Invesco in a report on Saturday, September 27th. The Goldman Sachs Group increased their target price on shares of Invesco from $16.25 to $16.75 and gave the stock a “neutral” rating in a report on Friday, June 27th. Morgan Stanley reissued a “positive” rating on shares of Invesco in a report on Monday. Finally, Citigroup increased their target price on shares of Invesco from $22.00 to $25.00 and gave the stock a “neutral” rating in a report on Monday, September 29th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat.com, Invesco presently has a consensus rating of “Hold” and a consensus target price of $21.58.

Invesco Stock Up 0.3%

IVZ stock opened at $24.12 on Tuesday. 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 Ltd. has a fifty-two week low of $11.60 and a fifty-two week high of $24.54. The firm’s 50-day simple moving average is $21.89 and its 200 day simple moving average is $17.57. The stock has a market cap of $10.76 billion, a PE ratio of 25.94, a price-to-earnings-growth ratio of 1.20 and a beta of 1.66.

Invesco (NYSE:IVZ) last released its 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). The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.09 billion. Invesco had a net margin of 10.68% and a return on equity of 8.60%. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.43 EPS. As a group, sell-side analysts predict that Invesco Ltd. will post 1.87 EPS for the current year.

Invesco Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Thursday, August 14th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $0.84 annualized dividend and a yield of 3.5%. Invesco’s dividend payout ratio (DPR) is presently 90.32%.

Insider Buying and Selling

In other Invesco news, Director Stephanie Butcher sold 103,192 shares of the firm’s stock in a transaction dated Wednesday, September 10th. The shares were 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 approximately $660,392.60. This trade represents a 77.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.21% of the company’s stock.

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.