Municipal Employees Retirement System of Michigan Boosts Position in Invesco PLC (NYSE:IVZ)
Municipal Employees Retirement System of Michigan boosted its position in shares of Invesco PLC (NYSE:IVZ) by 17.4% during the second quarter, Holdings Channel reports. The fund owned 33,200 shares of the asset manager’s stock after buying an additional 4,920 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Invesco PLC were worth $1,169,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in Invesco PLC by 2,611.3% in the first quarter. BlackRock Inc. now owns 32,067,091 shares of the asset manager’s stock worth $982,213,000 after buying an additional 30,884,375 shares during the last quarter. Quantbot Technologies LP boosted its stake in Invesco PLC by 474.2% in the first quarter. Quantbot Technologies LP now owns 111,611 shares of the asset manager’s stock worth $3,418,000 after buying an additional 92,173 shares during the last quarter. Legal & General Group Plc boosted its stake in Invesco PLC by 5.4% in the first quarter. Legal & General Group Plc now owns 2,100,821 shares of the asset manager’s stock worth $64,347,000 after buying an additional 108,212 shares during the last quarter. Macquarie Group Ltd. boosted its stake in Invesco PLC by 2.3% in the fourth quarter. Macquarie Group Ltd. now owns 318,071 shares of the asset manager’s stock worth $9,651,000 after buying an additional 7,223 shares during the last quarter. Finally, First Trust Advisors LP boosted its stake in Invesco PLC by 38.4% in the first quarter. First Trust Advisors LP now owns 895,680 shares of the asset manager’s stock worth $27,435,000 after buying an additional 248,286 shares during the last quarter. 79.80% of the stock is owned by hedge funds and other institutional investors.
Invesco PLC (NYSE:IVZ) opened at 34.57 on Thursday. Invesco PLC has a 12-month low of $27.46 and a 12-month high of $36.84. The company has a market capitalization of $14.07 billion, a price-to-earnings ratio of 15.41 and a beta of 1.80. The firm’s 50-day moving average price is $35.39 and its 200 day moving average price is $32.72.
Invesco PLC (NYSE:IVZ) last posted its quarterly earnings data on Thursday, July 27th. The asset manager reported $0.64 EPS for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.03. Invesco PLC had a net margin of 18.98% and a return on equity of 12.74%. The company had revenue of $906.30 million during the quarter, compared to the consensus estimate of $891.19 million. During the same period in the prior year, the business posted $0.56 EPS. The company’s quarterly revenue was up 4.5% on a year-over-year basis. On average, equities research analysts expect that Invesco PLC will post $2.54 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Thursday, August 17th will be paid a dividend of $0.29 per share. The ex-dividend date of this dividend is Tuesday, August 15th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.36%. Invesco PLC’s dividend payout ratio is 52.02%.
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A number of analysts recently issued reports on IVZ shares. Deutsche Bank AG lifted their price objective on Invesco PLC from $32.00 to $33.00 and gave the company a “hold” rating in a research report on Friday, April 28th. Citigroup Inc. raised Invesco PLC from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $35.00 to $37.50 in a research report on Monday, June 5th. Morgan Stanley reissued an “overweight” rating and set a $38.00 price objective (up previously from $36.00) on shares of Invesco PLC in a research report on Monday, July 10th. Jefferies Group LLC reissued a “buy” rating and set a $41.00 price objective on shares of Invesco PLC in a research report on Sunday, July 30th. Finally, BidaskClub raised Invesco PLC from a “hold” rating to a “buy” rating in a research report on Wednesday, June 14th. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $37.29.
Invesco PLC Company Profile
Invesco Ltd. (Invesco) is an independent investment management company. The Company provides a range of investment capabilities and outcomes, which are delivered through a set of investment vehicles, to help clients achieve their investment objectives. It has a presence in the retail and institutional markets within the investment management industry in North America; Europe, Middle East and Africa (EMEA), and Asia-Pacific.
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