Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Invesco Ltd. (NYSE:IVZ) by 56.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,928 shares of the asset manager’s stock after acquiring an additional 12,629 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Invesco were worth $585,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in IVZ. Federated Investors Inc. PA grew its position in Invesco by 114.1% during the 3rd quarter. Federated Investors Inc. PA now owns 5,085,662 shares of the asset manager’s stock worth $116,361,000 after acquiring an additional 2,709,900 shares during the last quarter. BlackRock Inc. grew its position in Invesco by 4.6% during the 4th quarter. BlackRock Inc. now owns 34,987,298 shares of the asset manager’s stock worth $585,687,000 after acquiring an additional 1,552,429 shares during the last quarter. CWM LLC grew its position in Invesco by 94,886.4% during the 4th quarter. CWM LLC now owns 1,440,943 shares of the asset manager’s stock worth $24,121,000 after acquiring an additional 1,439,426 shares during the last quarter. Kiltearn Partners LLP grew its position in Invesco by 18.9% during the 3rd quarter. Kiltearn Partners LLP now owns 8,758,297 shares of the asset manager’s stock worth $200,390,000 after acquiring an additional 1,393,287 shares during the last quarter. Finally, Schroder Investment Management Group grew its position in Invesco by 60.9% during the 3rd quarter. Schroder Investment Management Group now owns 3,664,694 shares of the asset manager’s stock worth $83,848,000 after acquiring an additional 1,386,674 shares during the last quarter. Institutional investors and hedge funds own 78.00% of the company’s stock.
NYSE:IVZ opened at $19.35 on Friday. Invesco Ltd. has a 52-week low of $15.38 and a 52-week high of $33.55. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.54 and a current ratio of 1.54. The firm has a market cap of $7.53 billion, a price-to-earnings ratio of 7.96, a PEG ratio of 1.09 and a beta of 1.53.
The business also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Thursday, February 14th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 6.20%. The ex-dividend date was Wednesday, February 13th. Invesco’s dividend payout ratio (DPR) is currently 49.38%.
Several research firms have issued reports on IVZ. Deutsche Bank reduced their price objective on Invesco from $27.00 to $25.00 and set a “buy” rating on the stock in a report on Friday, November 16th. Barclays reduced their price objective on Invesco from $25.00 to $23.00 and set an “overweight” rating on the stock in a report on Monday, December 3rd. Wells Fargo & Co downgraded Invesco from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $27.00 to $22.00 in a report on Tuesday, December 4th. Citigroup reduced their price objective on Invesco from $23.00 to $18.00 and set a “neutral” rating on the stock in a report on Wednesday, December 19th. Finally, Zacks Investment Research downgraded Invesco from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 8th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company. Invesco currently has an average rating of “Hold” and a consensus target price of $23.70.
In related news, Director Rod Canion purchased 20,000 shares of the business’s stock in a transaction dated Thursday, February 21st. The shares were bought at an average price of $18.89 per share, with a total value of $377,800.00. Following the purchase, the director now directly owns 84,451 shares in the company, valued at approximately $1,595,279.39. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Ltd. Invesco purchased 425,531 shares of the business’s stock in a transaction dated Friday, February 8th. The stock was bought at an average cost of $2.64 per share, for a total transaction of $1,123,401.84. The disclosure for this purchase can be found here. In the last three months, insiders bought 455,531 shares of company stock worth $1,680,902. 1.80% of the stock is currently owned by company insiders.
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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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