Oppenheimer Asset Management Inc. Sells 2,327 Shares of Invesco Ltd. (NYSE:IVZ)
Oppenheimer Asset Management Inc. lessened its position in Invesco Ltd. (NYSE:IVZ) by 2.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 78,340 shares of the asset manager’s stock after selling 2,327 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Invesco were worth $1,327,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. IHT Wealth Management LLC bought a new stake in Invesco in the 2nd quarter worth $362,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Invesco by 26.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 123,070 shares of the asset manager’s stock worth $2,518,000 after acquiring an additional 25,633 shares during the last quarter. CIBC Asset Management Inc grew its holdings in Invesco by 27.1% in the 2nd quarter. CIBC Asset Management Inc now owns 168,172 shares of the asset manager’s stock worth $3,441,000 after acquiring an additional 35,871 shares during the last quarter. AGF Investments America Inc. grew its holdings in Invesco by 1.9% in the 2nd quarter. AGF Investments America Inc. now owns 68,673 shares of the asset manager’s stock worth $1,405,000 after acquiring an additional 1,250 shares during the last quarter. Finally, Aviance Capital Partners LLC grew its holdings in Invesco by 82.0% in the 2nd quarter. Aviance Capital Partners LLC now owns 80,435 shares of the asset manager’s stock worth $1,646,000 after acquiring an additional 36,229 shares during the last quarter. 67.25% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have issued reports on IVZ. ValuEngine lowered shares of Invesco from a “sell” rating to a “strong sell” rating in a report on Friday. Morgan Stanley set a $18.00 target price on shares of Invesco and gave the company a “hold” rating in a research note on Friday, October 25th. BMO Capital Markets cut their target price on shares of Invesco from $18.00 to $17.00 and set a “market perform” rating on the stock in a research note on Thursday, October 24th. JPMorgan Chase & Co. lowered shares of Invesco from an “overweight” rating to a “neutral” rating and set a $22.00 target price on the stock. in a research note on Thursday, September 12th. Finally, Wells Fargo & Co lifted their target price on shares of Invesco from $17.00 to $18.00 and gave the company a “market perform” rating in a research note on Thursday, October 24th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has issued a buy rating to the stock. Invesco presently has an average rating of “Hold” and a consensus target price of $19.14.
Invesco (NYSE:IVZ) last issued its quarterly earnings results on Wednesday, October 23rd. The asset manager reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.13. Invesco had a net margin of 8.86% and a return on equity of 10.60%. The company had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same period last year, the company posted $0.66 EPS. Invesco’s revenue was up 27.1% on a year-over-year basis. On average, research analysts forecast that Invesco Ltd. will post 2.58 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be given a dividend of $0.31 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.24 dividend on an annualized basis and a yield of 6.82%. Invesco’s dividend payout ratio (DPR) is currently 51.03%.
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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