Invesco PLC (IVZ) Stake Raised by Riverhead Capital Management LLC
Riverhead Capital Management LLC increased its stake in Invesco PLC (NYSE:IVZ) by 1.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,593 shares of the asset manager’s stock after buying an additional 144 shares during the quarter. Riverhead Capital Management LLC’s holdings in Invesco PLC were worth $408,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Financial Architects Inc boosted its holdings in shares of Invesco PLC by 54.3% in the 2nd quarter. Financial Architects Inc now owns 3,073 shares of the asset manager’s stock valued at $109,000 after buying an additional 1,082 shares during the last quarter. Global X Management Co. LLC boosted its holdings in shares of Invesco PLC by 29.4% in the 1st quarter. Global X Management Co. LLC now owns 5,582 shares of the asset manager’s stock valued at $171,000 after buying an additional 1,267 shares during the last quarter. Gilbert & Cook Inc. acquired a new stake in shares of Invesco PLC in the 2nd quarter valued at approximately $203,000. Cornerstone Investment Partners LLC acquired a new stake in shares of Invesco PLC in the 2nd quarter valued at approximately $206,000. Finally, IBM Retirement Fund acquired a new stake in shares of Invesco PLC in the 2nd quarter valued at approximately $210,000. 79.79% of the stock is owned by institutional investors.
IVZ has been the subject of several research reports. Royal Bank Of Canada initiated coverage on Invesco PLC in a report on Thursday, June 29th. They set an “outperform” rating and a $41.00 price target for the company. Zacks Investment Research raised Invesco PLC from a “hold” rating to a “buy” rating and set a $39.00 price target for the company in a report on Tuesday, July 4th. Citigroup Inc. raised Invesco PLC from a “neutral” rating to a “buy” rating and raised their price target for the company from $35.00 to $37.50 in a report on Monday, June 5th. ValuEngine downgraded Invesco PLC from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Barclays PLC initiated coverage on Invesco PLC in a report on Friday, September 8th. They set an “overweight” rating and a $38.00 price target for the company. One analyst has rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $37.38.
Invesco PLC (NYSE IVZ) opened at 34.20 on Friday. Invesco PLC has a 52-week low of $27.46 and a 52-week high of $36.84. The company has a market cap of $13.92 billion, a PE ratio of 15.25 and a beta of 1.80. The firm’s 50-day moving average price is $33.22 and its 200 day moving average price is $33.02.
Invesco PLC (NYSE:IVZ) last issued its quarterly earnings results on Thursday, July 27th. The asset manager reported $0.64 EPS 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 quarter in the prior year, the firm earned $0.56 EPS. The business’s revenue for the quarter was up 4.5% compared to the same quarter last year. On average, equities analysts predict that Invesco PLC will post $2.54 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Thursday, August 17th were given a dividend of $0.29 per share. The ex-dividend date of this dividend was Tuesday, August 15th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.39%. Invesco PLC’s dividend payout ratio is presently 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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