Arizona State Retirement System Has $4.66 Million Stake in Invesco PLC (IVZ)
Arizona State Retirement System lowered its stake in Invesco PLC (NYSE:IVZ) by 1.0% during the second quarter, Holdings Channel reports. The firm owned 132,481 shares of the asset manager’s stock after selling 1,400 shares during the period. Arizona State Retirement System’s holdings in Invesco PLC were worth $4,662,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Quantitative Systematic Strategies LLC purchased a new stake in Invesco PLC during the first quarter valued at about $505,000. Nisa Investment Advisors LLC increased its stake in Invesco PLC by 18.8% in the first quarter. Nisa Investment Advisors LLC now owns 188,876 shares of the asset manager’s stock valued at $5,785,000 after buying an additional 29,900 shares during the period. DnB Asset Management AS increased its stake in Invesco PLC by 15.9% in the first quarter. DnB Asset Management AS now owns 51,684 shares of the asset manager’s stock valued at $1,583,000 after buying an additional 7,100 shares during the period. Jolley Asset Management LLC purchased a new stake in Invesco PLC during the first quarter valued at about $429,000. Finally, Donald L. Hagan LLC increased its stake in Invesco PLC by 2.0% in the first quarter. Donald L. Hagan LLC now owns 28,626 shares of the asset manager’s stock valued at $877,000 after buying an additional 558 shares during the period. 79.20% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Invesco PLC (NYSE:IVZ) opened at 34.00 on Tuesday. Invesco PLC has a 52-week low of $27.46 and a 52-week high of $36.83. The stock has a 50 day moving average of $35.30 and a 200 day moving average of $32.80. The company has a market cap of $13.83 billion, a P/E ratio of 15.16 and a beta of 1.80.
Invesco PLC (NYSE:IVZ) last announced its quarterly earnings data on Thursday, July 27th. The asset manager reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.03. Invesco PLC had a net margin of 18.98% and a return on equity of 12.74%. The company had revenue of $906.30 million during the quarter, compared to analysts’ expectations of $891.19 million. During the same quarter in the prior year, the company posted $0.56 EPS. The business’s revenue was up 4.5% on a year-over-year basis. On average, equities analysts anticipate that Invesco PLC will post $2.54 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Thursday, August 17th will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date is Tuesday, August 15th. Invesco PLC’s dividend payout ratio (DPR) is currently 52.02%.
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Several research firms recently issued reports on IVZ. Morgan Stanley reaffirmed an “overweight” rating and set a $38.00 price target (up previously from $36.00) on shares of Invesco PLC in a research note on Monday, July 10th. Jefferies Group LLC lifted their price target on shares of Invesco PLC from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Tuesday, July 4th. Zacks Investment Research raised shares of Invesco PLC from a “hold” rating to a “buy” rating and set a $39.00 price target on the stock in a research note on Tuesday, July 4th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $36.00 price target on shares of Invesco PLC in a research note on Sunday, July 2nd. Finally, Royal Bank Of Canada began coverage on shares of Invesco PLC in a research note on Thursday, June 29th. They set an “outperform” rating and a $41.00 price target on the stock. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $37.29.
About Invesco PLC
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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