Invesco (IVZ) Shares Gap Down to $24.99
Shares of Invesco Ltd. (NYSE:IVZ) gapped down prior to trading on Wednesday . The stock had previously closed at $25.58, but opened at $24.99. Invesco shares last traded at $24.20, with a volume of 3890364 shares trading hands.
IVZ has been the subject of several analyst reports. ValuEngine cut Invesco from a “sell” rating to a “strong sell” rating in a report on Saturday, June 2nd. Morgan Stanley dropped their target price on Invesco from $31.00 to $29.00 and set an “equal weight” rating for the company in a report on Thursday, August 2nd. Royal Bank of Canada restated a “buy” rating and issued a $35.00 target price on shares of Invesco in a report on Friday, July 27th. Credit Suisse Group dropped their target price on Invesco from $41.00 to $39.00 and set an “outperform” rating for the company in a report on Friday, July 13th. Finally, Wells Fargo & Co decreased their price target on Invesco from $34.00 to $32.00 and set an “outperform” rating on the stock in a research note on Friday, July 13th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company’s stock. Invesco has an average rating of “Hold” and an average target price of $35.79.
The company has a market cap of $10.15 billion, a P/E ratio of 9.13, a price-to-earnings-growth ratio of 1.01 and a beta of 1.70. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.51 and a quick ratio of 1.51.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 4th. Stockholders of record on Thursday, August 16th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 4.91%. The ex-dividend date is Wednesday, August 15th. Invesco’s dividend payout ratio (DPR) is presently 44.44%.
In other Invesco news, major shareholder Ltd. Invesco purchased 2,127,659 shares of the firm’s stock in a transaction dated Tuesday, May 22nd. The shares were acquired at an average price of $4.69 per share, with a total value of $9,978,720.71. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.80% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. lifted its stake in Invesco by 10.5% during the 1st quarter. BlackRock Inc. now owns 34,426,896 shares of the asset manager’s stock worth $1,102,006,000 after acquiring an additional 3,283,953 shares in the last quarter. Cornerstone Wealth Management LLC lifted its stake in Invesco by 2,099.1% during the 2nd quarter. Cornerstone Wealth Management LLC now owns 186,392 shares of the asset manager’s stock worth $6,957,000 after acquiring an additional 177,916 shares in the last quarter. HC Financial Advisors Inc. acquired a new position in Invesco during the 4th quarter worth about $1,762,000. Schwab Charles Investment Management Inc. lifted its stake in Invesco by 3.9% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 1,525,547 shares of the asset manager’s stock worth $48,833,000 after acquiring an additional 56,709 shares in the last quarter. Finally, Two Sigma Advisers LP acquired a new position in Invesco during the 4th quarter worth about $372,000. 79.58% of the stock is currently owned by hedge funds and other institutional investors.
About Invesco (NYSE:IVZ)
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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