Illinois Municipal Retirement Fund Acquires New Position in Invesco Ltd. $IVZ

Illinois Municipal Retirement Fund bought a new position in shares of Invesco Ltd. (NYSE:IVZ) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 51,617 shares of the asset manager’s stock, valued at approximately $1,254,000.

Other hedge funds have also recently bought and sold shares of the company. Root Financial Partners LLC raised its holdings in Invesco by 28.2% in the 4th quarter. Root Financial Partners LLC now owns 1,702 shares of the asset manager’s stock valued at $45,000 after acquiring an additional 374 shares during the last quarter. Carrera Capital Advisors boosted its holdings in shares of Invesco by 3.7% during the fourth quarter. Carrera Capital Advisors now owns 11,467 shares of the asset manager’s stock worth $301,000 after purchasing an additional 408 shares during the last quarter. Vise Technologies Inc. grew its position in shares of Invesco by 3.3% in the fourth quarter. Vise Technologies Inc. now owns 13,182 shares of the asset manager’s stock valued at $346,000 after purchasing an additional 425 shares during the period. EWA LLC grew its position in shares of Invesco by 3.8% in the first quarter. EWA LLC now owns 12,490 shares of the asset manager’s stock valued at $303,000 after purchasing an additional 452 shares during the period. Finally, Wedmont Private Capital increased its stake in Invesco by 2.2% in the fourth quarter. Wedmont Private Capital now owns 21,236 shares of the asset manager’s stock valued at $588,000 after purchasing an additional 456 shares during the last quarter. Institutional investors and hedge funds own 66.09% of the company’s stock.

Analysts Set New Price Targets

IVZ has been the topic of several recent analyst reports. Royal Bank Of Canada reiterated an “outperform” rating and set a $31.00 target price on shares of Invesco in a research report on Thursday, July 2nd. Weiss Ratings raised shares of Invesco from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, June 29th. Evercore set a $32.00 price objective on shares of Invesco in a research note on Friday, July 10th. Barclays increased their price objective on shares of Invesco from $26.00 to $31.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 14th. Finally, Jefferies Financial Group upgraded shares of Invesco to a “hold” rating in a report on Tuesday, June 30th. Four investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $29.15.

Invesco Price Performance

IVZ stock opened at $30.54 on Thursday. The stock has a 50-day moving average price of $27.88 and a two-hundred day moving average price of $26.62. Invesco Ltd. has a 12-month low of $20.08 and a 12-month high of $31.02. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 1.01. The company has a market cap of $13.54 billion, a PE ratio of -20.77, a price-to-earnings-growth ratio of 0.49 and a beta of 1.62.

Invesco (NYSE:IVZ) last released its quarterly earnings data on Tuesday, April 28th. The asset manager reported $0.57 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.01). The firm had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.27 billion. Invesco had a positive return on equity of 11.34% and a negative net margin of 6.11%.The business’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.44 earnings per share. As a group, research analysts predict that Invesco Ltd. will post 2.78 EPS for the current year.

Invesco Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 2nd. Investors of record on Friday, May 15th were given a dividend of $0.215 per share. This is a boost from Invesco’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Friday, May 15th. This represents a $0.86 dividend on an annualized basis and a yield of 2.8%. Invesco’s dividend payout ratio is currently -58.50%.

Invesco Company Profile

Invesco Ltd. is an independent global investment management firm headquartered in Atlanta, Georgia, and publicly traded on the New York Stock Exchange (NYSE: IVZ). With origins dating back to 1935, the company is dedicated to offering a wide array of investment strategies and solutions to both individual and institutional clients worldwide.

The firm’s product suite encompasses actively managed equity and fixed income funds, passive index funds, exchange-traded funds (ETFs), closed-end funds, and unit investment trusts, alongside specialized offerings such as private markets, real estate, and structured products.