Sound Shore Management Inc. CT decreased its position in Invesco PLC (NYSE:IVZ) by 14.3% during the second quarter, Holdings Channel reports. The fund owned 4,410,603 shares of the asset manager’s stock after selling 734,480 shares during the period. Invesco PLC makes up 2.5% of Sound Shore Management Inc. CT’s holdings, making the stock its 24th largest position. Sound Shore Management Inc. CT’s holdings in Invesco PLC were worth $155,209,000 as of its most recent filing with the SEC.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Invesco PLC by 2.2% in the first quarter. Vanguard Group Inc. now owns 40,096,178 shares of the asset manager’s stock worth $1,228,146,000 after buying an additional 870,284 shares during the last quarter. BlackRock Inc. increased 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. State Street Corp increased its stake in Invesco PLC by 1.2% in the first quarter. State Street Corp now owns 19,457,316 shares of the asset manager’s stock worth $595,977,000 after buying an additional 240,087 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Invesco PLC by 2.0% in the first quarter. JPMorgan Chase & Co. now owns 10,981,317 shares of the asset manager’s stock worth $336,358,000 after buying an additional 210,558 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in Invesco PLC by 28.7% in the first quarter. American Century Companies Inc. now owns 9,005,772 shares of the asset manager’s stock worth $275,847,000 after buying an additional 2,007,736 shares during the last quarter. 79.80% of the stock is owned by institutional investors and hedge funds.

Shares of Invesco PLC (NYSE:IVZ) opened at 33.54 on Friday. The company has a market capitalization of $13.65 billion, a PE ratio of 14.95 and a beta of 1.80. Invesco PLC has a 1-year low of $27.46 and a 1-year high of $36.84. The firm has a 50-day moving average price of $35.36 and a 200-day moving average price of $32.72.

Invesco PLC (NYSE:IVZ) last announced its quarterly earnings results on Thursday, July 27th. The asset manager reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.03. Invesco PLC had a return on equity of 12.74% and a net margin of 18.98%. The firm had revenue of $906.30 million for the quarter, compared to analysts’ expectations of $891.19 million. During the same period in the prior year, the business posted $0.56 earnings per share. The business’s revenue was up 4.5% compared to the same quarter last year. Equities analysts anticipate that Invesco PLC will post $2.54 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Thursday, August 17th will be given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date is Tuesday, August 15th. Invesco PLC’s dividend payout ratio (DPR) is 52.02%.

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IVZ has been the subject of a number of recent analyst reports. Jefferies Group LLC raised their price target on shares of Invesco PLC from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Tuesday, July 4th. ValuEngine downgraded shares of Invesco PLC from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. BidaskClub downgraded shares of Invesco PLC from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Wells Fargo & Company reissued an “outperform” rating on shares of Invesco PLC in a research report on Sunday, July 30th. Finally, Morgan Stanley reissued an “overweight” rating and set a $38.00 price target (up previously from $36.00) on shares of Invesco PLC in a research report on Monday, July 10th. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $37.29.

About Invesco PLC

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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Institutional Ownership by Quarter for Invesco PLC (NYSE:IVZ)

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