NewEdge Advisors LLC Boosts Stake in Invesco Ltd. $IVZ

NewEdge Advisors LLC increased its holdings in shares of Invesco Ltd. (NYSE:IVZ) by 229.7% in the second quarter, Holdings Channel reports. The firm owned 222,541 shares of the asset manager’s stock after buying an additional 155,038 shares during the quarter. NewEdge Advisors LLC’s holdings in Invesco were worth $5,873,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. IFP Advisors Inc lifted its position in Invesco by 52.8% during the 2nd quarter. IFP Advisors Inc now owns 10,879 shares of the asset manager’s stock worth $287,000 after acquiring an additional 3,760 shares during the period. Allworth Financial LP lifted its stake in shares of Invesco by 3.0% in the 2nd quarter. Allworth Financial LP now owns 65,251 shares of the asset manager’s stock worth $1,722,000 after acquiring an additional 1,912 shares during the period. Waverly Advisors LLC increased its stake in shares of Invesco by 16.0% during the second quarter. Waverly Advisors LLC now owns 20,100 shares of the asset manager’s stock worth $530,000 after acquiring an additional 2,765 shares during the period. Corient Private Wealth LP lifted its position in Invesco by 8.2% in the second quarter. Corient Private Wealth LP now owns 245,662 shares of the asset manager’s stock valued at $6,483,000 after purchasing an additional 18,651 shares during the period. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Invesco during the 2nd quarter worth approximately $620,000. 66.09% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Invesco

In other news, CFO Laura Dukes sold 31,075 shares of the company’s stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $33.16, for a total transaction of $1,030,447.00. Following the completion of the sale, the chief financial officer owned 259,183 shares in the company, valued at approximately $8,594,508.28. This represents a 10.71% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Phoebe Wood sold 3,000 shares of the firm’s stock in a transaction on Friday, September 11th. The stock was sold at an average price of $32.44, for a total transaction of $97,320.00. Following the completion of the sale, the director owned 107,111 shares in the company, valued at approximately $3,474,680.84. The trade was a 2.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 222,540 shares of company stock valued at $7,227,167 over the last 90 days. Company insiders own 1.40% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on IVZ shares. Keefe, Bruyette & Woods started coverage on Invesco in a research note on Wednesday, September 9th. They set an “outperform” rating and a $39.00 price target on the stock. Evercore set a $35.00 target price on Invesco in a research report on Monday, August 10th. Zacks Research lowered Invesco from a “strong-buy” rating to a “hold” rating in a report on Monday, September 7th. JPMorgan Chase & Co. raised their price target on Invesco from $29.00 to $29.50 and gave the company a “neutral” rating in a research report on Wednesday, July 29th. Finally, TD Cowen boosted their price objective on shares of Invesco from $37.00 to $39.00 and gave the stock a “buy” rating in a research report on Thursday, August 13th. Four analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $31.46.

Invesco Stock Down 2.4%

Shares of NYSE:IVZ opened at $31.50 on Tuesday. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 1.00. Invesco Ltd. has a 52-week low of $20.67 and a 52-week high of $33.66. The company has a 50 day moving average of $31.09 and a two-hundred day moving average of $27.75. The company has a market capitalization of $13.97 billion, a price-to-earnings ratio of -46.33, a price-to-earnings-growth ratio of 0.47 and a beta of 1.63.

Invesco (NYSE:IVZ) last announced its quarterly earnings data on Tuesday, July 28th. The asset manager reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.04. Invesco had a positive return on equity of 12.83% and a negative net margin of 0.93%.The firm had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same period last year, the business posted $0.36 earnings per share. The firm’s revenue for the quarter was up 20.5% on a year-over-year basis. As a group, analysts forecast that Invesco Ltd. will post 2.82 earnings per share for the current fiscal year.

Invesco Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Friday, August 14th were given a $0.215 dividend. This represents a $0.86 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend was Friday, August 14th. Invesco’s dividend payout ratio is -126.47%.

Invesco Company Profile

Invesco Ltd. (NYSE: IVZ) is a global investment management company that provides investment products and services to individuals, financial advisers, institutions and other clients. The company manages assets across a range of strategies, including active and passive equities, fixed income, multi-asset portfolios, alternatives and private markets.

Its offerings include mutual funds, exchange-traded funds, separately managed accounts, institutional investment mandates and other portfolio solutions.