Parametric Portfolio Associates LLC Cuts Stake in Invesco Ltd. (NYSE:IVZ)
Parametric Portfolio Associates LLC reduced its holdings in shares of Invesco Ltd. (NYSE:IVZ) by 0.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,352,551 shares of the asset manager’s stock after selling 31,772 shares during the period. Parametric Portfolio Associates LLC owned about 0.71% of Invesco worth $68,593,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Rehmann Capital Advisory Group grew its holdings in Invesco by 100.0% during the 1st quarter. Rehmann Capital Advisory Group now owns 1,338 shares of the asset manager’s stock worth $26,000 after acquiring an additional 669 shares in the last quarter. Parallel Advisors LLC grew its holdings in Invesco by 58.8% during the 1st quarter. Parallel Advisors LLC now owns 1,436 shares of the asset manager’s stock worth $28,000 after acquiring an additional 532 shares in the last quarter. TRUE Private Wealth Advisors acquired a new position in Invesco during the 2nd quarter worth approximately $29,000. Asset Dedication LLC grew its holdings in Invesco by 142.9% during the 2nd quarter. Asset Dedication LLC now owns 1,700 shares of the asset manager’s stock worth $34,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Ossiam acquired a new position in Invesco during the 2nd quarter worth approximately $47,000. 67.89% of the stock is currently owned by hedge funds and other institutional investors.
IVZ has been the subject of several analyst reports. Zacks Investment Research cut shares of Invesco from a “buy” rating to a “hold” rating in a report on Wednesday, May 22nd. JPMorgan Chase & Co. cut shares of Invesco from an “overweight” rating to a “neutral” rating and set a $22.00 price target for the company. in a report on Thursday. Barclays set a $21.00 price target on shares of Invesco and gave the stock a “hold” rating in a report on Friday, July 26th. Citigroup set a $20.00 price target on shares of Invesco and gave the stock a “hold” rating in a report on Wednesday, July 31st. Finally, Jefferies Financial Group cut shares of Invesco from a “buy” rating to a “hold” rating and lowered their price target for the stock from $24.00 to $23.00 in a report on Friday, June 7th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has given a buy rating to the company. Invesco presently has a consensus rating of “Hold” and an average price target of $21.73.
Invesco (NYSE:IVZ) last issued its earnings results on Thursday, July 25th. The asset manager reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.08. Invesco had a net margin of 11.45% and a return on equity of 10.23%. The business had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the prior year, the business posted $0.66 EPS. The company’s revenue for the quarter was up 5.9% on a year-over-year basis. Sell-side analysts expect that Invesco Ltd. will post 2.44 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th were paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 7.10%. The ex-dividend date was Wednesday, August 14th. Invesco’s dividend payout ratio is currently 51.03%.
Invesco Company Profile
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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