Invesco PLC (IVZ) Shares Bought by Canada Pension Plan Investment Board
Canada Pension Plan Investment Board raised its position in shares of Invesco PLC (NYSE:IVZ) by 12.7% during the second quarter, Holdings Channel reports. The firm owned 766,336 shares of the asset manager’s stock after buying an additional 86,400 shares during the period. Canada Pension Plan Investment Board’s holdings in Invesco PLC were worth $26,967,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in the stock. BlackRock Inc. raised 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 period. Quantbot Technologies LP raised 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 period. Legal & General Group Plc raised 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 period. Macquarie Group Ltd. raised 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 period. Finally, First Trust Advisors LP raised 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 period. 79.80% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Invesco PLC (NYSE IVZ) opened at 33.99 on Friday. Invesco PLC has a one year low of $27.46 and a one year high of $36.84. The firm has a market cap of $13.83 billion, a price-to-earnings ratio of 15.15 and a beta of 1.80. The stock’s 50 day moving average price is $35.33 and its 200 day moving average price is $32.75.
Invesco PLC (NYSE:IVZ) last posted its earnings results on Thursday, July 27th. The asset manager reported $0.64 EPS for the quarter, beating the consensus estimate of $0.61 by $0.03. Invesco PLC had a return on equity of 12.74% and a net margin of 18.98%. The company had revenue of $906.30 million for the quarter, compared to the consensus estimate of $891.19 million. During the same quarter in the prior year, the business earned $0.56 earnings per share. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. On average, equities analysts anticipate that Invesco PLC will post $2.54 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Thursday, August 17th will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 3.41%. The ex-dividend date of this dividend is Tuesday, August 15th. Invesco PLC’s payout ratio is 52.02%.
A number of analysts have issued reports on IVZ shares. Deutsche Bank AG raised their target price on Invesco PLC from $32.00 to $33.00 and gave the company a “hold” rating in a report on Friday, April 28th. Citigroup Inc. raised Invesco PLC from a “neutral” rating to a “buy” rating and raised their target price for the company from $35.00 to $37.50 in a report on Monday, June 5th. Morgan Stanley reaffirmed an “overweight” rating and issued a $38.00 target price (up previously from $36.00) on shares of Invesco PLC in a report on Monday, July 10th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $41.00 target price on shares of Invesco PLC in a report on Sunday, July 30th. Finally, BidaskClub raised Invesco PLC from a “hold” rating to a “buy” rating in a report on Wednesday, June 14th. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus 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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