Invesco Ltd. $IVZ Stock: TD Waterhouse Canada Inc. Lowers Position

TD Waterhouse Canada Inc. decreased its holdings in Invesco Ltd. (NYSE:IVZ) by 49.2% in the third quarter, HoldingsChannel.com reports. The fund owned 34,764 shares of the asset manager’s stock after selling 33,691 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in Invesco were worth $1,060,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. V Square Quantitative Management LLC raised its stake in Invesco by 5.2% during the 3rd quarter. V Square Quantitative Management LLC now owns 12,332 shares of the asset manager’s stock valued at $372,000 after purchasing an additional 606 shares during the period. Curated Wealth Partners LLC purchased a new position in Invesco in the 3rd quarter worth approximately $559,000. Mather Group LLC. lifted its holdings in Invesco by 8.8% in the 3rd quarter. Mather Group LLC. now owns 17,722 shares of the asset manager’s stock worth $534,000 after purchasing an additional 1,438 shares in the last quarter. Fortitude Family Office LLC boosted its stake in Invesco by 120.9% in the 3rd quarter. Fortitude Family Office LLC now owns 1,089 shares of the asset manager’s stock worth $33,000 after purchasing an additional 596 shares during the period. Finally, Krilogy Financial LLC boosted its stake in Invesco by 16.2% in the 3rd quarter. Krilogy Financial LLC now owns 32,025 shares of the asset manager’s stock worth $937,000 after purchasing an additional 4,453 shares during the period. Institutional investors own 66.09% of the company’s stock.

Invesco Stock Performance

Invesco stock opened at $28.78 on Friday. The company’s 50-day moving average price is $31.01 and its 200-day moving average price is $28.86. Invesco Ltd. has a twelve month low of $20.67 and a twelve month high of $33.66. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 1.00. The company has a market cap of $12.76 billion, a PE ratio of -42.32, a price-to-earnings-growth ratio of 0.47 and a beta of 1.65.

Invesco (NYSE:IVZ) last announced its earnings results on Tuesday, July 28th. The asset manager reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.04. Invesco had a negative net margin of 0.93% and a positive return on equity of 12.83%. The firm had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same period in the prior year, the company earned $0.36 EPS. The business’s revenue was up 20.5% compared to the same quarter last year. On average, equities research analysts forecast that Invesco Ltd. will post 2.82 EPS for the current fiscal year.

Invesco Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 2nd. Shareholders of record on Friday, August 14th were paid a dividend of $0.2150 per share. This represents a $0.86 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend was Friday, August 14th. Invesco’s payout ratio is presently -126.47%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Morgan Stanley increased their price objective on shares of Invesco from $31.00 to $32.00 and gave the company an “equal weight” rating in a report on Thursday. Evercore set a $34.00 target price on shares of Invesco in a report on Friday, October 9th. Zacks Research lowered shares of Invesco from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 7th. Keefe, Bruyette & Woods started coverage on shares of Invesco in a research report on Wednesday, September 9th. They set an “outperform” rating and a $39.00 target price for the company. Finally, Royal Bank Of Canada raised their target price on shares of Invesco from $35.00 to $36.00 and gave the company an “outperform” rating in a research note on Friday, October 9th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $33.19.

Insider Buying and Selling

In other Invesco news, Director Phoebe Wood sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $32.44, for a total transaction of $97,320.00. Following the sale, the director directly owned 107,111 shares in the company, valued at $3,474,680.84. This represents a 2.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Stephanie Butcher sold 45,095 shares of the firm’s stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $32.28, for a total value of $1,455,666.60. Following the completion of the sale, the director directly owned 10,205 shares of the company’s stock, valued at $329,417.40. The trade was a 81.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 222,540 shares of company stock valued at $7,227,167. 1.40% of the stock is currently owned by company insiders.

Invesco Company Profile

Invesco Ltd. (NYSE: IVZ) is a global investment management company that provides investment products and services to individual investors, financial professionals, institutions and governments. The company manages assets across a range of strategies, including equities, fixed income, multi-asset portfolios, alternatives, money market funds and cash management.

Invesco offers mutual funds, exchange-traded funds, separately managed accounts, model portfolios and institutional investment solutions.