Envestnet Portfolio Solutions Inc. Makes New $197,000 Investment in Invesco Ltd. $IVZ

Envestnet Portfolio Solutions Inc. purchased a new position in Invesco Ltd. (NYSE:IVZ) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 12,482 shares of the asset manager’s stock, valued at approximately $197,000.

Several other institutional investors have also modified their holdings of IVZ. GAMMA Investing LLC lifted its stake in shares of Invesco by 19.6% in the first quarter. GAMMA Investing LLC now owns 22,616 shares of the asset manager’s stock worth $343,000 after acquiring an additional 3,714 shares in the last quarter. State of Alaska Department of Revenue lifted its stake in shares of Invesco by 2.5% in the first quarter. State of Alaska Department of Revenue now owns 52,501 shares of the asset manager’s stock worth $796,000 after acquiring an additional 1,260 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Invesco by 15.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 56,861 shares of the asset manager’s stock worth $864,000 after acquiring an additional 7,796 shares in the last quarter. Gold Investment Management Ltd. lifted its stake in shares of Invesco by 16.1% in the first quarter. Gold Investment Management Ltd. now owns 63,700 shares of the asset manager’s stock worth $966,000 after acquiring an additional 8,833 shares in the last quarter. Finally, Elevated Capital Advisors LLC lifted its stake in shares of Invesco by 3.8% in the first quarter. Elevated Capital Advisors LLC now owns 41,084 shares of the asset manager’s stock worth $623,000 after acquiring an additional 1,517 shares in the last quarter. Institutional investors and hedge funds own 66.09% of the company’s stock.

Insider Activity at Invesco

In other news, Director Stephanie Butcher sold 103,192 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director directly owned 29,855 shares of the company’s stock, valued at approximately $660,392.60. This represents a 77.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.21% of the company’s stock.

Analysts Set New Price Targets

IVZ has been the topic of several recent analyst reports. Cowen reiterated a “buy” rating on shares of Invesco in a research note on Thursday, September 18th. Citigroup upped their price objective on Invesco from $22.00 to $25.00 and gave the company a “neutral” rating in a research note on Monday, September 29th. Bank of America upped their price objective on Invesco from $23.00 to $25.00 and gave the company a “neutral” rating in a research note on Thursday, October 2nd. Evercore ISI upped their price objective on Invesco from $24.00 to $26.00 and gave the company an “in-line” rating in a research note on Thursday, October 9th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Invesco in a research note on Saturday. Five research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the stock. Based on data from MarketBeat, Invesco presently has a consensus rating of “Hold” and an average price target of $21.85.

Invesco Stock Up 1.3%

NYSE:IVZ opened at $22.97 on Friday. The firm has a market capitalization of $10.24 billion, a PE ratio of 24.70, a price-to-earnings-growth ratio of 0.82 and a beta of 1.66. The stock has a 50 day moving average of $22.48 and a 200-day moving average of $18.40. Invesco Ltd. has a 52 week low of $11.60 and a 52 week high of $24.54. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.88.

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.