AE Wealth Management LLC Reduces Holdings in Invesco Ltd. $IVZ

AE Wealth Management LLC lessened its holdings in shares of Invesco Ltd. (NYSE:IVZ) by 96.4% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 27,655 shares of the asset manager’s stock after selling 730,851 shares during the quarter. AE Wealth Management LLC’s holdings in Invesco were worth $436,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Metis Global Partners LLC acquired a new position in Invesco during the 2nd quarter valued at approximately $167,000. Resona Asset Management Co. Ltd. lifted its holdings in shares of Invesco by 26.8% in the second quarter. Resona Asset Management Co. Ltd. now owns 4,998 shares of the asset manager’s stock valued at $78,000 after purchasing an additional 1,055 shares in the last quarter. Corton Capital Inc. acquired a new position in Invesco in the 2nd quarter valued at approximately $161,000. Bank of Montreal Can grew its stake in shares of Invesco by 163.5% in the 2nd quarter. Bank of Montreal Can now owns 676,333 shares of the asset manager’s stock valued at $10,666,000 after buying an additional 419,619 shares in the last quarter. Finally, Simon Quick Advisors LLC acquired a new stake in shares of Invesco in the second quarter worth about $171,000. 66.09% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on IVZ. Cowen restated a “buy” rating on shares of Invesco in a research note on Thursday, September 18th. Evercore ISI upped their target price on shares of Invesco from $24.00 to $26.00 and gave the company an “in-line” rating in a research report on Thursday, October 9th. Bank of America lifted their price target on shares of Invesco from $23.00 to $25.00 and gave the stock a “neutral” rating in a research report on Thursday, October 2nd. Royal Bank Of Canada upped their target price on Invesco from $23.00 to $25.00 and gave the stock a “sector perform” rating in a report on Thursday, October 30th. Finally, Fundamental Research set a $27.00 price target on Invesco in a research note on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $23.70.

Invesco Price Performance

Invesco stock opened at $23.51 on Friday. The business has a fifty day moving average price of $23.12 and a 200-day moving average price of $19.53. The firm has a market capitalization of $10.46 billion, a P/E ratio of 15.99, a PEG ratio of 0.85 and a beta of 1.72. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.30 and a quick ratio of 1.30. Invesco Ltd. has a one year low of $11.60 and a one year high of $24.75.

Invesco (NYSE:IVZ) last posted its quarterly earnings data on Tuesday, October 28th. The asset manager reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.17. Invesco had a net margin of 14.15% and a return on equity of 8.52%. The company had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same period in the prior year, the business earned $0.44 earnings per share. Invesco’s revenue for the quarter was up 7.4% compared to the same quarter last year. As a group, equities research 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 paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Friday, November 14th. Invesco’s dividend payout ratio is presently 57.14%.

Insider Buying and Selling

In other news, Director Stephanie Butcher sold 103,192 shares of the firm’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 completion of the transaction, the director directly owned 29,855 shares in the company, valued at $660,392.60. This trade represents a 77.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Douglas J. Sharp sold 160,000 shares of the company’s stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $23.56, for a total value of $3,769,600.00. Following the completion of the transaction, the director directly owned 192 shares in the company, valued at $4,523.52. This trade represents a 99.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 1.21% of the company’s stock.

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.