Advisor Partners LLC Acquires 1,501 Shares of Invesco PLC (NYSE:IVZ)
Advisor Partners LLC raised its stake in shares of Invesco PLC (NYSE:IVZ) by 17.3% during the second quarter, Holdings Channel reports. The fund owned 10,154 shares of the asset manager’s stock after buying an additional 1,501 shares during the period. Advisor Partners LLC’s holdings in Invesco PLC were worth $357,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in the stock. Washington Trust Bank raised its stake in Invesco PLC by 4.8% in the first quarter. Washington Trust Bank now owns 81,027 shares of the asset manager’s stock valued at $2,482,000 after buying an additional 3,717 shares during the last quarter. Cullinan Associates Inc. increased its position in shares of Invesco PLC by 2.4% in the first quarter. Cullinan Associates Inc. now owns 151,750 shares of the asset manager’s stock valued at $4,648,000 after buying an additional 3,600 shares during the period. CWM LLC increased its position in shares of Invesco PLC by 1.8% in the first quarter. CWM LLC now owns 715,849 shares of the asset manager’s stock valued at $21,926,000 after buying an additional 12,360 shares during the period. Americafirst Capital Management LLC purchased a new position in shares of Invesco PLC during the first quarter valued at about $188,000. Finally, Fox Run Management L.L.C. purchased a new position in shares of Invesco PLC during the first quarter valued at about $368,000. Hedge funds and other institutional investors own 79.80% of the company’s stock.
Shares of Invesco PLC (NYSE:IVZ) opened at 33.54 on Friday. The firm has a market capitalization of $13.65 billion, a P/E ratio of 14.95 and a beta of 1.80. The firm has a 50-day moving average of $35.36 and a 200-day moving average of $32.72. Invesco PLC has a one year low of $27.46 and a one year high of $36.84.
Invesco PLC (NYSE:IVZ) last announced its earnings results on Thursday, July 27th. The asset manager reported $0.64 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.03. Invesco PLC had a return on equity of 12.74% and a net margin of 18.98%. The company had revenue of $906.30 million during the quarter, compared to analyst estimates of $891.19 million. During the same period last year, the company posted $0.56 earnings per share. The firm’s quarterly revenue was up 4.5% compared to the same quarter last year. On average, equities analysts predict that Invesco PLC will post $2.54 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Thursday, August 17th will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 3.46%. The ex-dividend date of this dividend is Tuesday, August 15th. Invesco PLC’s dividend payout ratio is 52.02%.
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Several brokerages have recently issued reports on IVZ. Jefferies Group LLC reissued a “buy” rating and set a $41.00 price target on shares of Invesco PLC in a report on Sunday, July 30th. BidaskClub downgraded shares of Invesco PLC from a “buy” rating to a “hold” rating in a report on Monday, July 31st. ValuEngine raised shares of Invesco PLC from a “hold” rating to a “buy” rating in a report on Friday, June 9th. Wells Fargo & Company reissued an “outperform” rating on shares of Invesco PLC in a report on Sunday, July 30th. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and set a $39.00 price target on shares of Invesco PLC in a report on Sunday, July 30th. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Invesco PLC currently has an average rating of “Buy” and a consensus price target of $37.29.
Invesco PLC Company Profile
Invesco Ltd. (Invesco) is an independent investment management company. The Company provides a range of investment capabilities and outcomes, which are delivered through a set of investment vehicles, to help clients achieve their investment objectives. It has a presence in the retail and institutional markets within the investment management industry in North America; Europe, Middle East and Africa (EMEA), and Asia-Pacific.
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