Engineers Gate Manager LP lowered its holdings in Invesco Ltd. (NYSE:IVZ) by 50.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 105,725 shares of the asset manager’s stock after selling 105,908 shares during the quarter. Engineers Gate Manager LP’s holdings in Invesco were worth $2,419,000 as of its most recent filing with the SEC.
A number of other institutional investors have also added to or reduced their stakes in the business. Principal Financial Group Inc. raised its stake in shares of Invesco by 1.6% during the 1st quarter. Principal Financial Group Inc. now owns 635,185 shares of the asset manager’s stock worth $20,332,000 after buying an additional 9,830 shares during the last quarter. Allianz Asset Management GmbH raised its stake in shares of Invesco by 34.9% during the 1st quarter. Allianz Asset Management GmbH now owns 587,205 shares of the asset manager’s stock worth $18,796,000 after buying an additional 151,775 shares during the last quarter. DnB Asset Management AS raised its stake in shares of Invesco by 14.3% during the 2nd quarter. DnB Asset Management AS now owns 57,684 shares of the asset manager’s stock worth $1,532,000 after buying an additional 7,200 shares during the last quarter. IFM Investors Pty Ltd raised its stake in shares of Invesco by 46.8% during the 2nd quarter. IFM Investors Pty Ltd now owns 18,604 shares of the asset manager’s stock worth $494,000 after buying an additional 5,932 shares during the last quarter. Finally, Fulton Bank N.A. acquired a new position in shares of Invesco during the 2nd quarter worth $343,000. 79.32% of the stock is owned by institutional investors.
Several research analysts have recently issued reports on the company. Keefe, Bruyette & Woods downgraded Invesco from an “outperform” rating to a “market perform” rating in a research note on Friday, July 13th. Zacks Investment Research raised Invesco from a “sell” rating to a “hold” rating in a research note on Tuesday, October 16th. Credit Suisse Group cut their price target on Invesco from $39.00 to $37.00 and set an “outperform” rating for the company in a research note on Friday, July 27th. JPMorgan Chase & Co. cut their price target on Invesco from $34.00 to $29.00 and set an “overweight” rating for the company in a research note on Friday, July 27th. Finally, Wells Fargo & Co cut their price target on Invesco from $34.00 to $32.00 and set an “outperform” rating for the company in a research note on Friday, July 13th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $30.73.
Invesco (NYSE:IVZ) last announced its earnings results on Thursday, October 18th. The asset manager reported $0.66 earnings per share for the quarter, meeting the 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 during the quarter, compared to the consensus estimate of $972.49 million. During the same quarter in the previous year, the company posted $0.71 EPS. The firm’s revenue for the quarter was down 1.0% on a year-over-year basis. On average, analysts expect that Invesco Ltd. will post 2.66 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 3rd. Investors of record on Tuesday, November 13th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 5.53%. The ex-dividend date of this dividend is Friday, November 9th. Invesco’s payout ratio is 44.44%.
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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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