Riverhead Capital Management LLC lifted its stake in Invesco Ltd. (NYSE:IVZ) by 208.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 126,249 shares of the asset manager’s stock after acquiring an additional 85,355 shares during the period. Riverhead Capital Management LLC’s holdings in Invesco were worth $2,889,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. Sun Life Financial INC grew its stake in shares of Invesco by 3,034.1% in the second quarter. Sun Life Financial INC now owns 4,137 shares of the asset manager’s stock worth $110,000 after acquiring an additional 4,005 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its stake in shares of Invesco by 80.6% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 5,689 shares of the asset manager’s stock worth $130,000 after acquiring an additional 2,539 shares during the last quarter. First Interstate Bank grew its stake in shares of Invesco by 66.7% in the third quarter. First Interstate Bank now owns 7,500 shares of the asset manager’s stock worth $172,000 after acquiring an additional 3,000 shares during the last quarter. Creative Financial Designs Inc. ADV acquired a new stake in shares of Invesco in the third quarter worth $173,000. Finally, Private Capital Group LLC grew its stake in shares of Invesco by 134.0% in the second quarter. Private Capital Group LLC now owns 7,080 shares of the asset manager’s stock worth $188,000 after acquiring an additional 4,055 shares during the last quarter. Institutional investors and hedge funds own 79.96% of the company’s stock.
IVZ opened at $18.52 on Friday. Invesco Ltd. has a fifty-two week low of $18.39 and a fifty-two week high of $38.43. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.55 and a current ratio of 1.55. The firm has a market cap of $7.76 billion, a price-to-earnings ratio of 6.86, a price-to-earnings-growth ratio of 0.81 and a beta of 1.50.
Invesco (NYSE:IVZ) last posted its quarterly earnings results on Thursday, October 18th. The asset manager reported $0.66 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.66. Invesco had a net margin of 21.66% and a return on equity of 12.25%. The firm had revenue of $966.90 million for the quarter, compared to the consensus estimate of $972.49 million. During the same quarter in the previous year, the company earned $0.71 earnings per share. The business’s revenue was down 1.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Invesco Ltd. will post 2.64 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, December 3rd. Shareholders of record on Tuesday, November 13th were paid a dividend of $0.30 per share. The ex-dividend date was Friday, November 9th. This represents a $1.20 dividend on an annualized basis and a yield of 6.48%. Invesco’s dividend payout ratio is currently 44.44%.
Several equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. set a $29.00 price objective on shares of Invesco and gave the stock a “buy” rating in a research note on Monday, September 24th. Deutsche Bank lowered their price objective on shares of Invesco from $31.00 to $30.00 and set a “buy” rating on the stock in a research note on Thursday, August 16th. Barclays decreased their price target on shares of Invesco from $29.00 to $25.00 and set an “overweight” rating on the stock in a research note on Friday, October 19th. Zacks Investment Research upgraded shares of Invesco from a “sell” rating to a “hold” rating in a research note on Tuesday, October 16th. Finally, Royal Bank of Canada reiterated a “buy” rating and set a $30.00 price target on shares of Invesco in a research note on Friday, October 19th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company’s stock. Invesco presently has an average rating of “Hold” and an average price target of $28.91.
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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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