Riverhead Capital Management LLC raised its stake in shares of Invesco Ltd. (NYSE:IVZ) by 40.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 196,508 shares of the asset manager’s stock after buying an additional 56,150 shares during the quarter. Riverhead Capital Management LLC’s holdings in Invesco were worth $3,795,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in the company. Palouse Capital Management Inc. lifted its stake in Invesco by 13.1% in the 1st quarter. Palouse Capital Management Inc. now owns 321,039 shares of the asset manager’s stock valued at $6,199,000 after acquiring an additional 37,084 shares in the last quarter. Andra AP fonden bought a new stake in Invesco in the 1st quarter valued at approximately $5,003,000. Trexquant Investment LP lifted its stake in Invesco by 182.0% in the 1st quarter. Trexquant Investment LP now owns 79,865 shares of the asset manager’s stock valued at $1,542,000 after acquiring an additional 51,549 shares in the last quarter. Amundi Pioneer Asset Management Inc. lifted its stake in Invesco by 1.0% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 2,721,851 shares of the asset manager’s stock valued at $52,560,000 after acquiring an additional 28,040 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in Invesco by 87.6% in the 1st quarter. The Manufacturers Life Insurance Company now owns 374,350 shares of the asset manager’s stock valued at $7,229,000 after acquiring an additional 174,805 shares in the last quarter. Institutional investors and hedge funds own 76.26% of the company’s stock.
Shares of Invesco stock traded down $0.24 on Friday, reaching $20.35. 16,424 shares of the company were exchanged, compared to its average volume of 4,577,097. 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 stock has a market cap of $8.21 billion, a P/E ratio of 8.37, a P/E/G ratio of 1.02 and a beta of 1.55. Invesco Ltd. has a one year low of $15.38 and a one year high of $27.74.
The firm also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Friday, May 10th were issued a dividend of $0.31 per share. The ex-dividend date of this dividend was Thursday, May 9th. This is a positive change from Invesco’s previous quarterly dividend of $0.30. This represents a $1.24 dividend on an annualized basis and a dividend yield of 6.09%. Invesco’s payout ratio is presently 51.03%.
IVZ has been the topic of several research reports. Zacks Investment Research upgraded Invesco from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a research note on Wednesday, April 10th. Edward Jones cut Invesco from a “buy” rating to a “hold” rating in a research note on Thursday, April 11th. Jefferies Financial Group cut Invesco from a “buy” rating to a “hold” rating and cut their target price for the company from $24.00 to $23.00 in a research note on Friday, June 7th. Deutsche Bank upped their price objective on Invesco from $20.00 to $22.00 and gave the stock a “hold” rating in a research note on Friday, April 26th. Finally, William Blair reiterated a “market perform” rating on shares of Invesco in a research note on Thursday, April 25th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the company’s stock. Invesco has a consensus rating of “Hold” and a consensus price target of $22.09.
In other Invesco news, major shareholder Ltd. Invesco bought 2,222,222 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were acquired at an average cost of $4.50 per share, with a total value of $9,999,999.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Ben F. Johnson III bought 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The shares were acquired at an average cost of $21.37 per share, for a total transaction of $213,700.00. Following the completion of the acquisition, the director now directly owns 54,618 shares in the company, valued at approximately $1,167,186.66. The disclosure for this purchase can be found here. Insiders have purchased a total of 2,252,222 shares of company stock worth $10,619,199 over the last three months. 1.90% of the stock is owned by insiders.
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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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