M&G Plc Acquires Shares of 496,351 Invesco Ltd. (NYSE:IVZ)

M&G Plc bought a new position in shares of Invesco Ltd. (NYSE:IVZ) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 496,351 shares of the asset manager’s stock, valued at approximately $8,438,000. M&G Plc owned approximately 0.11% of Invesco as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Gables Capital Management Inc. lifted its position in Invesco by 74.9% during the fourth quarter. Gables Capital Management Inc. now owns 1,634 shares of the asset manager’s stock worth $29,000 after purchasing an additional 700 shares during the period. Jones Financial Companies Lllp boosted its position in shares of Invesco by 35.2% during the 4th quarter. Jones Financial Companies Lllp now owns 2,945 shares of the asset manager’s stock worth $53,000 after acquiring an additional 766 shares in the last quarter. Alaska Permanent Fund Corp boosted its position in shares of Invesco by 0.5% during the 4th quarter. Alaska Permanent Fund Corp now owns 145,267 shares of the asset manager’s stock worth $2,592,000 after acquiring an additional 767 shares in the last quarter. MCF Advisors LLC lifted its stake in Invesco by 16.1% during the fourth quarter. MCF Advisors LLC now owns 6,182 shares of the asset manager’s stock worth $110,000 after purchasing an additional 855 shares during the last quarter. Finally, Wright Investors Service Inc. boosted its holdings in shares of Invesco by 2.1% in the 1st quarter. Wright Investors Service Inc. now owns 46,787 shares of the asset manager’s stock valued at $776,000 after purchasing an additional 944 shares in the last quarter. Institutional investors own 66.09% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on IVZ shares. BMO Capital Markets reissued a “market perform” rating and set a $17.00 price target (down previously from $18.00) on shares of Invesco in a report on Wednesday, April 24th. TD Cowen reduced their price target on shares of Invesco from $21.00 to $19.50 and set a “buy” rating on the stock in a research note on Wednesday, April 24th. Morgan Stanley upped their price objective on shares of Invesco from $16.00 to $17.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 17th. The Goldman Sachs Group dropped their price objective on shares of Invesco from $17.50 to $17.00 and set a “neutral” rating for the company in a research note on Tuesday, July 2nd. Finally, StockNews.com cut shares of Invesco from a “hold” rating to a “sell” rating in a research note on Thursday, July 11th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Invesco currently has an average rating of “Hold” and a consensus target price of $16.81.

Invesco Trading Down 0.5 %

Shares of Invesco stock traded down $0.08 on Friday, hitting $16.21. 3,666,954 shares of the company’s stock traded hands, compared to its average volume of 3,292,293. The company has a market capitalization of $7.29 billion, a price-to-earnings ratio of -21.61, a price-to-earnings-growth ratio of 1.32 and a beta of 1.47. The company has a fifty day moving average of $15.44 and a two-hundred day moving average of $15.73. The company has a debt-to-equity ratio of 0.77, a current ratio of 6.89 and a quick ratio of 6.89. Invesco Ltd. has a one year low of $12.48 and a one year high of $18.28.

Invesco (NYSE:IVZ) last posted its quarterly earnings results on Tuesday, April 23rd. The asset manager reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.07). Invesco had a positive return on equity of 7.84% and a negative net margin of 1.74%. The business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter in the previous year, the company posted $0.38 earnings per share. Invesco’s quarterly revenue was up 4.0% on a year-over-year basis. As a group, sell-side analysts expect that Invesco Ltd. will post 1.65 earnings per share for the current year.

Invesco Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 14th were paid a dividend of $0.205 per share. The ex-dividend date of this dividend was Monday, May 13th. This represents a $0.82 dividend on an annualized basis and a yield of 5.06%. This is an increase from Invesco’s previous quarterly dividend of $0.20. Invesco’s payout ratio is -109.33%.

About Invesco

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.