Pendal Group Ltd Sells 14,722 Shares of Invesco Ltd. (NYSE:IVZ)

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Pendal Group Ltd trimmed its stake in shares of Invesco Ltd. (NYSE:IVZ) by 53.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,723 shares of the asset manager’s stock after selling 14,722 shares during the quarter. Pendal Group Ltd’s holdings in Invesco were worth $260,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently modified their holdings of IVZ. Rehmann Capital Advisory Group increased its holdings in shares of Invesco by 100.0% during the first quarter. Rehmann Capital Advisory Group now owns 1,338 shares of the asset manager’s stock valued at $26,000 after acquiring an additional 669 shares in the last quarter. Parallel Advisors LLC increased its holdings in shares of Invesco by 58.8% during the first quarter. Parallel Advisors LLC now owns 1,436 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 532 shares in the last quarter. Asset Dedication LLC increased its holdings in shares of Invesco by 142.9% during the second quarter. Asset Dedication LLC now owns 1,700 shares of the asset manager’s stock valued at $34,000 after acquiring an additional 1,000 shares in the last quarter. Quadrant Capital Group LLC increased its holdings in shares of Invesco by 46.2% during the first quarter. Quadrant Capital Group LLC now owns 2,213 shares of the asset manager’s stock valued at $38,000 after acquiring an additional 699 shares in the last quarter. Finally, FinTrust Capital Advisors LLC increased its holdings in shares of Invesco by 21.7% during the first quarter. FinTrust Capital Advisors LLC now owns 2,909 shares of the asset manager’s stock valued at $56,000 after acquiring an additional 519 shares in the last quarter. Institutional investors own 65.07% of the company’s stock.

Shares of NYSE:IVZ opened at $15.65 on Friday. The stock has a market cap of $7.20 billion, a price-to-earnings ratio of 6.44, a PEG ratio of 0.76 and a beta of 1.51. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.71. Invesco Ltd. has a 12-month low of $15.15 and a 12-month high of $24.99. The business’s 50 day moving average is $19.00 and its 200 day moving average is $19.79.

Invesco (NYSE:IVZ) last announced its earnings results on Thursday, July 25th. The asset manager reported $0.65 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.08. The company had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Invesco had a return on equity of 10.23% and a net margin of 11.45%. Invesco’s quarterly revenue was up 5.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.66 earnings per share. As a group, equities research analysts expect that Invesco Ltd. will post 2.43 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th will be given a dividend of $0.31 per share. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $1.24 annualized dividend and a dividend yield of 7.92%. Invesco’s payout ratio is 51.03%.

In related news, major shareholder Ltd. Invesco bought 2,222,222 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The shares were bought at an average price of $4.50 per share, with a total value of $9,999,999.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director G Richard Wagoner, Jr. bought 10,000 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The shares were bought at an average cost of $20.71 per share, for a total transaction of $207,100.00. Following the transaction, the director now owns 25,648 shares of the company’s stock, valued at $531,170.08. The disclosure for this purchase can be found here. 1.90% of the stock is owned by insiders.

Several equities research analysts have recently commented on the company. Citigroup set a $20.00 price objective on Invesco and gave the company a “hold” rating in a report on Wednesday, July 31st. UBS Group downgraded Invesco from a “neutral” rating to a “sell” rating and set a $18.00 price objective for the company. in a report on Monday, May 13th. Deutsche Bank set a $21.00 price objective on Invesco and gave the company a “hold” rating in a report on Friday, July 26th. William Blair restated a “market perform” rating on shares of Invesco in a report on Thursday, April 25th. Finally, Jefferies Financial Group downgraded Invesco from a “buy” rating to a “hold” rating and decreased their price objective for the company from $24.00 to $23.00 in a report on Friday, June 7th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $22.36.

About Invesco

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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Institutional Ownership by Quarter for Invesco (NYSE:IVZ)

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