Wells Fargo & Company MN lifted its position in Invesco Ltd. (NYSE:IVZ) by 11.4% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 1,876,004 shares of the asset manager’s stock after purchasing an additional 191,574 shares during the period. Wells Fargo & Company MN’s holdings in Invesco were worth $36,226,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc grew its holdings in shares of Invesco by 1.2% in the third quarter. Vanguard Group Inc now owns 43,577,656 shares of the asset manager’s stock worth $997,058,000 after purchasing an additional 524,580 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Invesco by 3.7% in the first quarter. BlackRock Inc. now owns 36,286,388 shares of the asset manager’s stock worth $700,692,000 after purchasing an additional 1,299,090 shares during the last quarter. Kiltearn Partners LLP grew its holdings in shares of Invesco by 2.7% in the fourth quarter. Kiltearn Partners LLP now owns 8,998,697 shares of the asset manager’s stock worth $150,638,000 after purchasing an additional 240,400 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Invesco by 13.9% in the fourth quarter. Geode Capital Management LLC now owns 5,884,507 shares of the asset manager’s stock worth $98,348,000 after purchasing an additional 717,941 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Invesco by 42.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,047,946 shares of the asset manager’s stock worth $84,501,000 after acquiring an additional 1,507,660 shares during the period. Hedge funds and other institutional investors own 76.26% of the company’s stock.
IVZ stock traded down $0.14 on Friday, reaching $20.45. The company’s stock had a trading volume of 48,220 shares, compared to its average volume of 4,577,097. Invesco Ltd. has a 12-month low of $15.38 and a 12-month high of $27.74. The firm has a market capitalization of $8.21 billion, a price-to-earnings ratio of 8.42, a PEG ratio of 1.02 and a beta of 1.55. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 0.86.
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Friday, May 10th were given a dividend of $0.31 per share. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $1.24 annualized dividend and a yield of 6.06%. This is a positive change from Invesco’s previous quarterly dividend of $0.30. Invesco’s dividend payout ratio (DPR) is currently 51.03%.
IVZ has been the subject of a number of research analyst reports. Zacks Investment Research raised Invesco from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a research note on Wednesday, April 10th. Deutsche Bank raised their price target on Invesco from $20.00 to $22.00 and gave the stock a “hold” rating in a research note on Friday, April 26th. Edward Jones lowered Invesco from a “buy” rating to a “hold” rating in a research note on Thursday, April 11th. Wells Fargo & Co raised their price target on Invesco from $19.00 to $21.00 and gave the stock a “market perform” rating in a research note on Tuesday, March 19th. Finally, William Blair reaffirmed a “market perform” rating on shares of Invesco in a research note on Thursday, April 25th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $22.09.
In other news, major shareholder Ltd. Invesco acquired 2,222,222 shares of the stock in a transaction on Monday, June 10th. The stock was acquired at an average price of $4.50 per share, with a total value of $9,999,999.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Rod Canion acquired 10,000 shares of the stock in a transaction on Monday, May 13th. The shares were purchased at an average cost of $19.84 per share, with a total value of $198,400.00. The disclosure for this purchase can be found here. Insiders have acquired 2,252,222 shares of company stock valued at $10,619,199 in the last three months. Insiders own 1.90% of the company’s stock.
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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