Invesco Ltd. $IVZ Shares Sold by Wealthfront Advisers LLC

Wealthfront Advisers LLC reduced its stake in shares of Invesco Ltd. (NYSE:IVZ) by 2.0% during the 2nd quarter, Holdings Channel.com reports. The firm owned 85,249 shares of the asset manager’s stock after selling 1,754 shares during the quarter. Wealthfront Advisers LLC’s holdings in Invesco were worth $1,344,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in IVZ. GAMMA Investing LLC increased its stake in shares of Invesco by 19.6% in the 1st quarter. GAMMA Investing LLC now owns 22,616 shares of the asset manager’s stock valued at $343,000 after purchasing an additional 3,714 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Invesco by 15.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 56,861 shares of the asset manager’s stock valued at $864,000 after purchasing an additional 7,796 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Invesco by 24.0% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 19,488 shares of the asset manager’s stock valued at $296,000 after purchasing an additional 3,778 shares in the last quarter. New York State Teachers Retirement System increased its stake in shares of Invesco by 8.5% in the 1st quarter. New York State Teachers Retirement System now owns 405,269 shares of the asset manager’s stock valued at $6,148,000 after purchasing an additional 31,643 shares in the last quarter. Finally, Vontobel Holding Ltd. increased its stake in shares of Invesco by 8.7% in the 1st quarter. Vontobel Holding Ltd. now owns 347,316 shares of the asset manager’s stock valued at $5,269,000 after purchasing an additional 27,666 shares in the last quarter. 66.09% of the stock is owned by institutional investors and hedge funds.

Invesco Trading Down 2.6%

IVZ stock opened at $23.47 on Friday. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.67. Invesco Ltd. has a 12-month low of $11.60 and a 12-month high of $24.75. The stock has a market cap of $10.46 billion, a price-to-earnings ratio of 15.96, a PEG ratio of 0.85 and a beta of 1.66. The business’s 50-day moving average is $22.72 and its 200 day moving average is $18.69.

Invesco (NYSE:IVZ) last posted its quarterly earnings data on Tuesday, October 28th. The asset manager reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.17. Invesco had a return on equity of 8.52% and a net margin of 14.15%.The company had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same period in the previous year, the firm posted $0.44 EPS. Invesco’s revenue was up 7.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Invesco Ltd. will post 1.87 EPS for the current fiscal year.

Invesco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 2nd. Investors of record on Friday, November 14th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 3.6%. The ex-dividend date is Friday, November 14th. Invesco’s payout ratio is presently 90.32%.

Insiders Place Their Bets

In other Invesco news, Director Stephanie Butcher sold 103,192 shares of the firm’s stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $22.12, for a total value of $2,282,607.04. Following the transaction, the director directly owned 29,855 shares of the company’s stock, valued at $660,392.60. This trade represents a 77.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.21% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

IVZ has been the subject of several recent analyst reports. The Goldman Sachs Group lifted their price target on Invesco from $25.50 to $26.50 and gave the company a “neutral” rating in a research note on Wednesday. Barclays boosted their price target on shares of Invesco from $24.00 to $25.00 and gave the stock an “equal weight” rating in a report on Wednesday. Bank of America boosted their price target on shares of Invesco from $23.00 to $25.00 and gave the stock a “neutral” rating in a report on Thursday, October 2nd. TD Cowen raised shares of Invesco from a “hold” rating to a “buy” rating and boosted their price target for the stock from $17.50 to $25.00 in a report on Monday, July 21st. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Invesco in a report on Wednesday, October 8th. Five investment analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the stock. Based on data from MarketBeat.com, Invesco presently has a consensus rating of “Hold” and a consensus price target of $23.17.

Invesco Profile

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.