Financial Counselors Inc. Buys 101,503 Shares of Invesco PLC (IVZ)
Financial Counselors Inc. raised its stake in shares of Invesco PLC (NYSE:IVZ) by 1,660.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 107,617 shares of the asset manager’s stock after acquiring an additional 101,503 shares during the quarter. Financial Counselors Inc.’s holdings in Invesco were worth $3,771,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in IVZ. Schwab Charles Investment Management Inc. boosted its position in shares of Invesco by 7.0% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,344,769 shares of the asset manager’s stock worth $47,323,000 after purchasing an additional 87,755 shares in the last quarter. Eaton Vance Management boosted its position in shares of Invesco by 247.2% in the 2nd quarter. Eaton Vance Management now owns 452,597 shares of the asset manager’s stock worth $15,927,000 after purchasing an additional 322,230 shares in the last quarter. Prudential Financial Inc. boosted its position in shares of Invesco by 40.1% in the 3rd quarter. Prudential Financial Inc. now owns 1,547,138 shares of the asset manager’s stock worth $54,212,000 after purchasing an additional 442,997 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of Invesco by 17.3% in the 2nd quarter. Wells Fargo & Company MN now owns 1,300,168 shares of the asset manager’s stock worth $45,754,000 after purchasing an additional 192,018 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Invesco by 2.7% in the 2nd quarter. Vanguard Group Inc. now owns 41,189,076 shares of the asset manager’s stock worth $1,449,444,000 after purchasing an additional 1,092,898 shares in the last quarter. 81.38% of the stock is currently owned by institutional investors and hedge funds.
IVZ has been the subject of a number of recent analyst reports. Barclays initiated coverage on Invesco in a research report on Friday, September 8th. They issued an “overweight” rating and a $38.00 price objective for the company. Zacks Investment Research upgraded Invesco from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a research note on Wednesday, October 11th. Royal Bank Of Canada restated a “buy” rating and issued a $41.00 target price on shares of Invesco in a research note on Friday, October 27th. Wells Fargo & Company raised their target price on Invesco from $38.00 to $40.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 11th. Finally, Jefferies Group raised their target price on Invesco from $41.00 to $42.00 and gave the stock a “buy” rating in a research note on Friday, November 3rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $38.50.
In other Invesco news, insider Colin Meadows sold 54,215 shares of Invesco stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $36.01, for a total transaction of $1,952,282.15. Following the completion of the transaction, the insider now owns 164,420 shares in the company, valued at approximately $5,920,764.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.80% of the company’s stock.
Shares of Invesco PLC (NYSE IVZ) traded up $0.67 during mid-day trading on Tuesday, reaching $36.88. The company had a trading volume of 2,979,300 shares, compared to its average volume of 2,725,962. The stock has a market cap of $14,740.29, a price-to-earnings ratio of 14.20, a price-to-earnings-growth ratio of 1.14 and a beta of 1.81. Invesco PLC has a one year low of $28.75 and a one year high of $37.75. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.50 and a quick ratio of 1.50.
Invesco (NYSE:IVZ) last released its quarterly earnings data on Thursday, October 26th. The asset manager reported $0.71 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.05. The business had revenue of $976.60 million during the quarter, compared to analyst estimates of $940.96 million. Invesco had a return on equity of 13.02% and a net margin of 18.99%. The company’s revenue was up 14.3% on a year-over-year basis. During the same quarter last year, the business posted $0.60 EPS. equities analysts predict that Invesco PLC will post 2.66 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, December 4th. Shareholders of record on Tuesday, November 14th were paid a dividend of $0.29 per share. The ex-dividend date of this dividend was Monday, November 13th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.15%. Invesco’s payout ratio is currently 50.44%.
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Invesco Company 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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