Invesco PLC (IVZ) Short Interest Down 36.0% in October
Invesco PLC (NYSE:IVZ) was the target of a large drop in short interest in the month of October. As of October 31st, there was short interest totalling 5,956,348 shares, a drop of 36.0% from the October 14th total of 9,308,920 shares. Approximately 1.5% of the company’s shares are short sold. Based on an average trading volume of 4,132,018 shares, the short-interest ratio is presently 1.4 days.
Invesco PLC (NYSE:IVZ) opened at 32.31 on Wednesday. The firm has a market capitalization of $13.20 billion, a price-to-earnings ratio of 16.29 and a beta of 1.82. Invesco PLC has a 12-month low of $23.02 and a 12-month high of $35.00. The stock has a 50 day moving average of $30.07 and a 200 day moving average of $29.37.
Invesco PLC (NYSE:IVZ) last posted its quarterly earnings data on Thursday, October 27th. The company reported $0.60 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by $0.01. The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.23 billion. Invesco PLC had a return on equity of 11.52% and a net margin of 17.36%. Invesco PLC’s quarterly revenue was down 5.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.61 earnings per share. Equities research analysts anticipate that Invesco PLC will post $2.24 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 5th. Investors of record on Tuesday, November 15th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 3.47%. The ex-dividend date is Thursday, November 10th. Invesco PLC’s dividend payout ratio is currently 56.57%.
In other news, insider Andrew Tak Shing Lo sold 150,000 shares of the firm’s stock in a transaction on Wednesday, November 2nd. The shares were sold at an average price of $27.71, for a total value of $4,156,500.00. Following the transaction, the insider now owns 251,603 shares of the company’s stock, valued at approximately $6,971,919.13. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Edward P. Lawrence sold 1,609 shares of the firm’s stock in a transaction on Friday, September 9th. The shares were sold at an average price of $30.84, for a total transaction of $49,621.56. Following the completion of the transaction, the director now directly owns 33,848 shares in the company, valued at approximately $1,043,872.32. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by insiders.
Several hedge funds have recently bought and sold shares of IVZ. American Century Companies Inc. increased its stake in Invesco PLC by 129.7% in the second quarter. American Century Companies Inc. now owns 4,519,350 shares of the company’s stock valued at $115,424,000 after buying an additional 2,551,675 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new stake in Invesco PLC during the third quarter valued at about $77,881,000. Pioneer Investment Management Inc. increased its stake in Invesco PLC by 695.0% in the third quarter. Pioneer Investment Management Inc. now owns 2,120,871 shares of the company’s stock valued at $66,320,000 after buying an additional 1,854,088 shares in the last quarter. BlackRock Investment Management LLC increased its stake in Invesco PLC by 144.5% in the second quarter. BlackRock Investment Management LLC now owns 3,102,381 shares of the company’s stock valued at $79,235,000 after buying an additional 1,833,447 shares in the last quarter. Finally, Prudential Financial Inc. increased its stake in Invesco PLC by 344.4% in the second quarter. Prudential Financial Inc. now owns 2,312,359 shares of the company’s stock valued at $59,058,000 after buying an additional 1,792,000 shares in the last quarter. 80.68% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have recently commented on IVZ shares. Barclays PLC reissued an “overweight” rating and issued a $36.00 target price on shares of Invesco PLC in a research note on Friday, September 23rd. Deutsche Bank AG reaffirmed a “hold” rating and set a $32.00 price target (up previously from $31.00) on shares of Invesco PLC in a research note on Friday, October 28th. Bank of America Corp. reaffirmed a “buy” rating and set a $37.00 price target on shares of Invesco PLC in a research note on Monday, September 26th. Jefferies Group lifted their price target on shares of Invesco PLC from $30.00 to $37.00 and gave the stock a “buy” rating in a research note on Tuesday, October 11th. Finally, Wells Fargo & Co. reaffirmed a “buy” rating on shares of Invesco PLC in a research note on Wednesday, September 21st. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $36.00.
About Invesco PLC
Invesco Ltd. (Invesco) is an independent global investment management company. The Company provides a range of investment capabilities and outcomes, which are delivered through a diverse set of investment vehicles, to help clients achieve their investment objectives. It operates in the investment management segment.
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