Raymond James Financial Services Advisors Inc. Acquires 2,053 Shares of Invesco Ltd. (IVZ)
Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Invesco Ltd. (NYSE:IVZ) by 3.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 69,633 shares of the asset manager’s stock after buying an additional 2,053 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Invesco were worth $1,166,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of IVZ. Rational Advisors LLC increased its holdings in shares of Invesco by 411.3% during the 4th quarter. Rational Advisors LLC now owns 2,536 shares of the asset manager’s stock valued at $42,000 after purchasing an additional 2,040 shares in the last quarter. Old North State Trust LLC increased its holdings in shares of Invesco by 71.1% during the 4th quarter. Old North State Trust LLC now owns 3,746 shares of the asset manager’s stock valued at $62,000 after purchasing an additional 1,557 shares in the last quarter. Bruderman Asset Management LLC purchased a new position in shares of Invesco during the 4th quarter valued at approximately $84,000. Oregon Public Employees Retirement Fund increased its holdings in shares of Invesco by 3,044.9% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,419,067 shares of the asset manager’s stock valued at $85,000 after purchasing an additional 1,373,944 shares in the last quarter. Finally, AdvisorNet Financial Inc increased its holdings in shares of Invesco by 324.8% during the 4th quarter. AdvisorNet Financial Inc now owns 6,537 shares of the asset manager’s stock valued at $109,000 after purchasing an additional 4,998 shares in the last quarter. 80.36% of the stock is owned by institutional investors.
In other Invesco news, major shareholder Ltd. Invesco bought 425,531 shares of the stock in a transaction on Friday, February 8th. The shares were bought at an average price of $2.64 per share, with a total value of $1,123,401.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Rod Canion bought 10,000 shares of the stock in a transaction on Friday, February 8th. The shares were acquired at an average cost of $17.97 per share, for a total transaction of $179,700.00. Following the purchase, the director now owns 64,451 shares in the company, valued at $1,158,184.47. The disclosure for this purchase can be found here. Insiders purchased a total of 455,531 shares of company stock worth $1,680,902 in the last three months. 1.80% of the stock is owned by corporate insiders.
Invesco (NYSE:IVZ) last released its quarterly earnings results on Wednesday, January 30th. The asset manager reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.10). Invesco had a net margin of 16.61% and a return on equity of 10.96%. The company had revenue of $919.20 million during the quarter, compared to analyst estimates of $913.37 million. During the same period in the prior year, the business posted $0.73 EPS. Invesco’s revenue was down 8.5% compared to the same quarter last year. As a group, analysts forecast that Invesco Ltd. will post 2.2 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Thursday, February 14th were paid a $0.30 dividend. The ex-dividend date of this dividend was Wednesday, February 13th. This represents a $1.20 dividend on an annualized basis and a yield of 6.08%. Invesco’s dividend payout ratio is currently 49.38%.
IVZ has been the subject of several recent research reports. Zacks Investment Research lowered shares of Invesco from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 8th. Morgan Stanley set a $19.00 target price on shares of Invesco and gave the company a “hold” rating in a report on Friday, February 8th. Barclays cut their target price on shares of Invesco from $25.00 to $23.00 and set an “overweight” rating for the company in a report on Monday, December 3rd. Deutsche Bank lowered shares of Invesco from a “buy” rating to a “hold” rating and cut their target price for the company from $25.00 to $18.00 in a report on Thursday, January 10th. Finally, Wells Fargo & Co lowered shares of Invesco from an “outperform” rating to a “market perform” rating and cut their target price for the company from $27.00 to $22.00 in a report on Tuesday, December 4th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company’s stock. Invesco currently has an average rating of “Hold” and a consensus target price of $23.60.
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Invesco Ltd. is a publicly owned investment manager. The firm provides its services to retail clients, institutional clients, high-net worth clients, public entities, corporations, unions, non-profit organizations, endowments, foundations, pension funds, financial institutions, and sovereign wealth funds.
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