Buckingham Capital Management Inc. Has $1.18 Million Holdings in Invesco PLC (IVZ)
Buckingham Capital Management Inc. cut its position in shares of Invesco PLC (NYSE:IVZ) by 0.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,554 shares of the asset manager’s stock after selling 45 shares during the period. Buckingham Capital Management Inc.’s holdings in Invesco PLC were worth $1,181,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. raised its stake in Invesco PLC by 2.2% during the first quarter. Vanguard Group Inc. now owns 40,096,178 shares of the asset manager’s stock worth $1,228,146,000 after purchasing an additional 870,284 shares during the period. BlackRock Inc. raised its stake in Invesco PLC by 2,611.3% during the first quarter. BlackRock Inc. now owns 32,067,091 shares of the asset manager’s stock worth $982,213,000 after purchasing an additional 30,884,375 shares during the period. State Street Corp raised its stake in Invesco PLC by 1.2% during the first quarter. State Street Corp now owns 19,457,316 shares of the asset manager’s stock worth $595,977,000 after purchasing an additional 240,087 shares during the period. JPMorgan Chase & Co. raised its stake in Invesco PLC by 2.0% during the first quarter. JPMorgan Chase & Co. now owns 10,981,317 shares of the asset manager’s stock worth $336,358,000 after purchasing an additional 210,558 shares during the period. Finally, Kiltearn Partners LLP raised its stake in Invesco PLC by 38.5% during the second quarter. Kiltearn Partners LLP now owns 5,765,510 shares of the asset manager’s stock worth $202,888,000 after purchasing an additional 1,602,510 shares during the period. 79.71% of the stock is currently owned by institutional investors.
IVZ has been the topic of a number of analyst reports. Citigroup Inc. raised shares of Invesco PLC from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $35.00 to $37.50 in a research note on Monday, June 5th. Jefferies Group LLC reaffirmed a “buy” rating and set a $41.00 target price on shares of Invesco PLC in a research note on Sunday, July 30th. Morgan Stanley reaffirmed an “overweight” rating and set a $38.00 target price (up from $36.00) on shares of Invesco PLC in a research note on Monday, July 10th. BidaskClub downgraded shares of Invesco PLC from a “hold” rating to a “sell” rating in a research note on Saturday, August 19th. Finally, ValuEngine downgraded shares of Invesco PLC from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. One analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $37.38.
Invesco PLC (IVZ) traded up 1.18% on Tuesday, reaching $32.48. 518,576 shares of the company’s stock traded hands. Invesco PLC has a 52 week low of $27.46 and a 52 week high of $36.83. The firm has a market capitalization of $13.22 billion, a P/E ratio of 14.48 and a beta of 1.80. The stock has a 50-day moving average of $33.69 and a 200 day moving average of $33.00.
Invesco PLC (NYSE:IVZ) last posted its quarterly earnings results on Thursday, July 27th. The asset manager reported $0.64 EPS for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $906.30 million for the quarter, compared to analyst estimates of $891.19 million. During the same quarter last year, the firm posted $0.56 earnings per share. Invesco PLC’s revenue for the quarter was up 4.5% compared to the same quarter last year. On average, equities analysts expect that Invesco PLC will post $2.54 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Thursday, August 17th were given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 3.61%. The ex-dividend date was Tuesday, August 15th. Invesco PLC’s dividend payout ratio (DPR) is 52.02%.
Invesco PLC 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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