WBI Investments Inc. Cuts Stake in Invesco PLC (IVZ)
WBI Investments Inc. lessened its holdings in Invesco PLC (NYSE:IVZ) by 3.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,155 shares of the asset manager’s stock after selling 625 shares during the period. WBI Investments Inc.’s holdings in Invesco PLC were worth $568,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of IVZ. Russell Investments Group Ltd. raised its stake in shares of Invesco PLC by 11.0% in the 1st quarter. Russell Investments Group Ltd. now owns 88,228 shares of the asset manager’s stock valued at $2,702,000 after acquiring an additional 8,722 shares during the period. Commerzbank Aktiengesellschaft FI raised its stake in shares of Invesco PLC by 19.3% in the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 9,245 shares of the asset manager’s stock valued at $283,000 after acquiring an additional 1,496 shares during the period. World Asset Management Inc raised its stake in shares of Invesco PLC by 10.5% in the 1st quarter. World Asset Management Inc now owns 42,677 shares of the asset manager’s stock valued at $1,307,000 after acquiring an additional 4,069 shares during the period. UBS Asset Management Americas Inc. raised its stake in shares of Invesco PLC by 11.9% in the 1st quarter. UBS Asset Management Americas Inc. now owns 1,558,878 shares of the asset manager’s stock valued at $47,748,000 after acquiring an additional 165,363 shares during the period. Finally, Meadow Creek Investment Management LLC raised its stake in shares of Invesco PLC by 8.6% in the 1st quarter. Meadow Creek Investment Management LLC now owns 14,146 shares of the asset manager’s stock valued at $433,000 after acquiring an additional 1,122 shares during the period. 79.71% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have recently commented on IVZ. Morgan Stanley reissued an “overweight” rating and issued a $38.00 target price (up previously from $36.00) on shares of Invesco PLC in a research note on Monday, July 10th. Jefferies Group LLC raised their target price on shares of Invesco PLC from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday, July 4th. Zacks Investment Research raised shares of Invesco PLC from a “hold” rating to a “buy” rating and set a $39.00 target price on the stock in a research note on Tuesday, July 4th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $36.00 target price on shares of Invesco PLC in a research note on Sunday, July 2nd. Finally, Royal Bank Of Canada initiated coverage on shares of Invesco PLC in a report on Thursday, June 29th. They set an “outperform” rating and a $41.00 price target for the company. One investment analyst has rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Invesco PLC presently has a consensus rating of “Buy” and a consensus target price of $37.38.
Invesco PLC (NYSE:IVZ) opened at 33.08 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 capitalization of $13.46 billion, a price-to-earnings ratio of 14.75 and a beta of 1.80. The firm’s 50-day moving average is $33.28 and its 200 day moving average is $32.99.
Invesco PLC (NYSE:IVZ) last announced its earnings results on Thursday, July 27th. The asset manager reported $0.64 earnings per share (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 business had revenue of $906.30 million for the quarter, compared to analyst estimates of $891.19 million. During the same quarter in the previous year, the firm posted $0.56 earnings per share. Invesco PLC’s revenue was up 4.5% compared to the same quarter last year. Analysts forecast that Invesco PLC will post $2.54 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Thursday, August 17th were given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date of this dividend was Tuesday, August 15th. Invesco PLC’s dividend payout ratio (DPR) is currently 52.02%.
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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