Invesco PLC (IVZ) Shares Sold by Convergence Investment Partners LLC

Convergence Investment Partners LLC lowered its holdings in Invesco PLC (NYSE:IVZ) by 28.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,804 shares of the asset manager’s stock after selling 15,112 shares during the period. Convergence Investment Partners LLC’s holdings in Invesco were worth $1,325,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in IVZ. Waters Parkerson & CO. LLC grew its position in shares of Invesco by 0.7% in the third quarter. Waters Parkerson & CO. LLC now owns 728,220 shares of the asset manager’s stock valued at $25,517,000 after purchasing an additional 5,152 shares during the last quarter. Financial Counselors Inc. grew its holdings in shares of Invesco by 1,660.2% in the 3rd quarter. Financial Counselors Inc. now owns 107,617 shares of the asset manager’s stock valued at $3,771,000 after buying an additional 101,503 shares during the period. Cornerstone Capital Inc. grew its holdings in shares of Invesco by 12.5% in the 3rd quarter. Cornerstone Capital Inc. now owns 405,230 shares of the asset manager’s stock valued at $14,199,000 after buying an additional 45,070 shares during the period. Skandinaviska Enskilda Banken AB publ boosted its stake in Invesco by 3.7% in the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 56,241 shares of the asset manager’s stock worth $1,971,000 after purchasing an additional 2,000 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in Invesco by 0.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,786,828 shares of the asset manager’s stock worth $97,644,000 after purchasing an additional 8,917 shares during the period. Institutional investors own 81.38% of the company’s stock.

In other news, insider Colin Meadows sold 54,215 shares of the company’s stock in a transaction dated 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 sale, the insider now directly owns 164,420 shares of the company’s stock, valued at approximately $5,920,764.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.80% of the stock is currently owned by corporate insiders.

A number of brokerages recently weighed in on IVZ. ValuEngine raised shares of Invesco from a “hold” rating to a “buy” rating in a research note on Wednesday. Zacks Investment Research lowered shares of Invesco from a “buy” rating to a “hold” rating in a research note on Thursday, October 12th. Citigroup upped their target price on shares of Invesco from $38.50 to $39.50 and gave the stock a “buy” rating in a research note on Tuesday, October 3rd. Barclays began coverage on shares of Invesco in a research note on Friday, September 8th. They issued an “overweight” rating and a $38.00 target price for the company. Finally, BidaskClub lowered shares of Invesco from a “hold” rating to a “sell” rating in a research note on Saturday, August 19th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the stock. Invesco presently has an average rating of “Buy” and an average target price of $38.50.

Shares of Invesco PLC (IVZ) traded up $0.46 during mid-day trading on Thursday, hitting $37.09. 2,394,200 shares of the stock were exchanged, compared to its average volume of 2,719,548. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.50 and a current ratio of 1.50. The company has a market cap of $14,911.27, a PE ratio of 14.36, a price-to-earnings-growth ratio of 1.15 and a beta of 1.81. Invesco PLC has a 12 month low of $28.75 and a 12 month high of $37.75.

Invesco (NYSE:IVZ) last issued its earnings results on Thursday, October 26th. The asset manager reported $0.71 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.05. The company had revenue of $976.60 million for the quarter, compared to analysts’ expectations of $940.96 million. Invesco had a net margin of 18.99% and a return on equity of 13.02%. Invesco’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.60 EPS. research analysts anticipate that Invesco PLC will post 2.66 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, December 4th. Stockholders of record on Tuesday, November 14th were issued a $0.29 dividend. The ex-dividend date was Monday, November 13th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.13%. Invesco’s payout ratio is 50.44%.

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Invesco 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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Institutional Ownership by Quarter for Invesco (NYSE:IVZ)

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