State of New Jersey Common Pension Fund D Boosts Stake in Invesco Ltd. $IVZ

State of New Jersey Common Pension Fund D increased its position in Invesco Ltd. (NYSE:IVZ) by 17.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 129,180 shares of the asset manager’s stock after buying an additional 19,389 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Invesco were worth $2,037,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Invesco by 8.9% in the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 21,224 shares of the asset manager’s stock worth $335,000 after buying an additional 1,736 shares in the last quarter. ARGA Investment Management LP increased its stake in Invesco by 5.0% during the second quarter. ARGA Investment Management LP now owns 103,998 shares of the asset manager’s stock worth $1,640,000 after acquiring an additional 4,918 shares during the last quarter. Asset Management One Co. Ltd. increased its stake in Invesco by 729.1% during the second quarter. Asset Management One Co. Ltd. now owns 108,246 shares of the asset manager’s stock worth $1,707,000 after acquiring an additional 95,190 shares during the last quarter. Forum Financial Management LP increased its stake in Invesco by 4.8% during the second quarter. Forum Financial Management LP now owns 17,327 shares of the asset manager’s stock worth $273,000 after acquiring an additional 791 shares during the last quarter. Finally, Ethic Inc. increased its stake in Invesco by 6.1% during the second quarter. Ethic Inc. now owns 21,650 shares of the asset manager’s stock worth $340,000 after acquiring an additional 1,250 shares during the last quarter. 66.09% of the stock is currently owned by hedge funds and other institutional investors.

Invesco Trading Up 0.4%

IVZ opened at $24.06 on Thursday. The stock has a market cap of $10.73 billion, a price-to-earnings ratio of 16.37, a P/E/G ratio of 0.86 and a beta of 1.66. The stock’s 50 day moving average price is $22.66 and its 200-day moving average price is $18.66. Invesco Ltd. has a one year low of $11.60 and a one year high of $24.75. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.30 and a current ratio of 1.30.

Invesco (NYSE:IVZ) last released its earnings results on Tuesday, October 28th. The asset manager reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.17. The firm had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.17 billion. Invesco had a return on equity of 8.52% and a net margin of 14.15%.The company’s quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.44 earnings per share. On average, equities analysts forecast that Invesco Ltd. will post 1.87 EPS for the current year.

Invesco Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 2nd. Investors of record on Friday, November 14th will be issued a $0.21 dividend. The ex-dividend date is Friday, November 14th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.5%. Invesco’s payout ratio is presently 90.32%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Bank of America boosted their price objective on Invesco from $23.00 to $25.00 and gave the stock a “neutral” rating in a research note on Thursday, October 2nd. Weiss Ratings reissued a “hold (c)” rating on shares of Invesco in a research note on Wednesday, October 8th. BMO Capital Markets reissued an “outperform” rating on shares of Invesco in a research note on Friday, October 24th. Morgan Stanley reissued a “positive” rating on shares of Invesco in a research note on Monday, October 6th. Finally, Evercore ISI upped their target price on Invesco from $24.00 to $26.00 and gave the company an “in-line” rating in a research note on Thursday, October 9th. Five investment analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $22.57.

Insider Activity

In related news, Director Stephanie Butcher sold 103,192 shares of the business’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 value of $2,282,607.04. Following the completion of the sale, the director owned 29,855 shares in the company, valued at approximately $660,392.60. The trade was a 77.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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.