Tower Bridge Advisors lowered its position in shares of Invesco Ltd. (NYSE:IVZ) by 34.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 185,948 shares of the asset manager’s stock after selling 96,409 shares during the period. Tower Bridge Advisors’ holdings in Invesco were worth $4,254,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Oppenheimer Asset Management Inc. increased its stake in shares of Invesco by 62.3% during the second quarter. Oppenheimer Asset Management Inc. now owns 93,072 shares of the asset manager’s stock worth $2,472,000 after purchasing an additional 35,710 shares during the period. OppenheimerFunds Inc. increased its stake in shares of Invesco by 15.7% during the second quarter. OppenheimerFunds Inc. now owns 24,443 shares of the asset manager’s stock worth $649,000 after purchasing an additional 3,308 shares during the period. Nelson Roberts Investment Advisors LLC increased its stake in shares of Invesco by 3.2% during the third quarter. Nelson Roberts Investment Advisors LLC now owns 200,272 shares of the asset manager’s stock worth $4,582,000 after purchasing an additional 6,145 shares during the period. Cadence Capital Management LLC increased its stake in shares of Invesco by 9.8% during the second quarter. Cadence Capital Management LLC now owns 64,927 shares of the asset manager’s stock worth $1,724,000 after purchasing an additional 5,788 shares during the period. Finally, Standard Life Aberdeen plc grew its position in Invesco by 12.5% during the second quarter. Standard Life Aberdeen plc now owns 207,564 shares of the asset manager’s stock worth $5,513,000 after buying an additional 22,993 shares in the last quarter. Institutional investors own 78.79% of the company’s stock.
IVZ has been the topic of a number of analyst reports. Deutsche Bank increased their price target on Invesco from $29.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, September 27th. Royal Bank of Canada reissued a “buy” rating and set a $35.00 price target on shares of Invesco in a research report on Friday, July 27th. JPMorgan Chase & Co. set a $29.00 price target on Invesco and gave the stock a “buy” rating in a research report on Monday, September 24th. Morgan Stanley reduced their price target on Invesco from $31.00 to $29.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 2nd. Finally, Zacks Investment Research raised Invesco from a “sell” rating to a “hold” rating in a research report on Monday, September 24th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the stock. Invesco presently has an average rating of “Hold” and an average price target of $32.62.
Invesco (NYSE:IVZ) last issued its earnings results on Thursday, October 18th. The asset manager reported $0.66 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.66. The firm had revenue of $966.90 million for the quarter, compared to the consensus estimate of $972.49 million. Invesco had a return on equity of 12.32% and a net margin of 21.66%. The company’s revenue was down 1.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.71 EPS. On average, sell-side analysts anticipate that Invesco Ltd. will post 2.67 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 3rd. Shareholders of record on Tuesday, November 13th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 5.72%. The ex-dividend date of this dividend is Friday, November 9th. Invesco’s dividend payout ratio is presently 44.44%.
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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