ETRADE Capital Management LLC Takes $205,000 Position in Invesco PLC (IVZ)
ETRADE Capital Management LLC bought a new position in Invesco PLC (NYSE:IVZ) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 5,861 shares of the asset manager’s stock, valued at approximately $205,000.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in IVZ. Vanguard Group Inc. raised its holdings in shares of Invesco by 2.7% during the second quarter. Vanguard Group Inc. now owns 41,189,076 shares of the asset manager’s stock valued at $1,449,444,000 after acquiring an additional 1,092,898 shares during the period. American Century Companies Inc. raised its holdings in shares of Invesco by 6.3% during the third quarter. American Century Companies Inc. now owns 9,478,671 shares of the asset manager’s stock valued at $332,133,000 after acquiring an additional 563,407 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Invesco by 1.0% during the third quarter. Bank of New York Mellon Corp now owns 9,374,021 shares of the asset manager’s stock valued at $328,466,000 after acquiring an additional 88,330 shares during the period. Kiltearn Partners LLP raised its holdings in shares of Invesco by 38.5% during the second quarter. Kiltearn Partners LLP now owns 5,765,510 shares of the asset manager’s stock valued at $202,888,000 after acquiring an additional 1,602,510 shares during the period. Finally, Ameriprise Financial Inc. raised its holdings in shares of Invesco by 19.2% during the third quarter. Ameriprise Financial Inc. now owns 4,997,691 shares of the asset manager’s stock valued at $175,007,000 after acquiring an additional 804,250 shares during the period. Institutional investors and hedge funds own 81.38% of the company’s stock.
A number of research firms have recently issued reports on IVZ. Zacks Investment Research lowered shares of Invesco from a “buy” rating to a “hold” rating in a report on Wednesday, November 29th. ValuEngine upgraded shares of Invesco from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Keefe, Bruyette & Woods restated a “buy” rating and set a $39.00 price target on shares of Invesco in a report on Tuesday, October 3rd. Citigroup boosted their price target on shares of Invesco from $38.50 to $39.50 and gave the company a “buy” rating in a report on Tuesday, October 3rd. Finally, BidaskClub lowered shares of Invesco from a “hold” rating to a “sell” rating in a report on Saturday, August 19th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $38.50.
Invesco (NYSE:IVZ) last released its quarterly earnings data on Thursday, October 26th. The asset manager reported $0.71 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.05. The firm had revenue of $976.60 million for the quarter, compared to analyst estimates of $940.96 million. Invesco had a net margin of 18.99% and a return on equity of 13.02%. The company’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.60 EPS. research analysts expect that Invesco PLC will post 2.66 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, December 4th. Shareholders of record on Tuesday, November 14th were paid a $0.29 dividend. The ex-dividend date of this dividend was Monday, November 13th. This represents a $1.16 annualized dividend and a yield of 3.17%. Invesco’s dividend payout ratio is presently 50.44%.
In other Invesco news, insider Colin Meadows sold 54,215 shares of the company’s stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $36.01, for a total value of $1,952,282.15. Following the transaction, the insider now owns 164,420 shares in the company, valued at approximately $5,920,764.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.80% of the stock is currently owned by corporate insiders.
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Invesco Company 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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