Oppenheimer Asset Management Inc. trimmed its holdings in shares of Invesco Ltd. (NYSE:IVZ) by 2.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 78,340 shares of the asset manager’s stock after selling 2,327 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Invesco were worth $1,327,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. IHT Wealth Management LLC bought a new stake in Invesco during the second quarter valued at approximately $362,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Invesco by 26.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 123,070 shares of the asset manager’s stock valued at $2,518,000 after buying an additional 25,633 shares during the period. CIBC Asset Management Inc boosted its position in shares of Invesco by 27.1% during the second 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. boosted its position in shares of Invesco by 1.9% during the second 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 boosted its position in shares of Invesco by 82.0% during the second 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. Institutional investors own 67.25% of the company’s stock.
A number of equities research analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of Invesco from a “buy” rating to a “hold” rating and set a $19.00 price target on the stock. in a research note on Monday, September 23rd. JPMorgan Chase & Co. downgraded shares of Invesco from an “overweight” rating to a “neutral” rating and set a $22.00 price target on the stock. in a research note on Thursday, September 12th. Wells Fargo & Co upped their price target 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. Morgan Stanley set a $18.00 price target on shares of Invesco and gave the company a “hold” rating in a research note on Friday, October 25th. Finally, Evercore ISI downgraded shares of Invesco from an “in-line” rating to an “underperform” rating in a research note on Tuesday, October 22nd. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and one has assigned a buy rating to the company’s stock. Invesco presently has a consensus rating of “Hold” and an average target price of $19.14.
Invesco (NYSE:IVZ) last released its quarterly earnings results on Wednesday, October 23rd. The asset manager reported $0.70 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.13. The company had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.22 billion. Invesco had a net margin of 8.86% and a return on equity of 10.60%. Invesco’s revenue was up 27.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.66 earnings per share. On average, equities research analysts anticipate that Invesco Ltd. will post 2.58 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be paid a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 6.82%. The ex-dividend date of this dividend is Friday, November 8th. 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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