Chevy Chase Trust Holdings Inc. Increases Stake in Invesco PLC (IVZ)
Chevy Chase Trust Holdings Inc. lifted its stake in shares of Invesco PLC (NYSE:IVZ) by 1.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 355,111 shares of the asset manager’s stock after purchasing an additional 4,606 shares during the period. Chevy Chase Trust Holdings Inc. owned approximately 0.09% of Invesco worth $12,443,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Invesco by 2.7% in the second quarter. Vanguard Group Inc. now owns 41,189,076 shares of the asset manager’s stock valued at $1,449,444,000 after buying an additional 1,092,898 shares during the period. JPMorgan Chase & Co. lifted its holdings in Invesco by 4.9% in the third quarter. JPMorgan Chase & Co. now owns 11,517,149 shares of the asset manager’s stock valued at $394,807,000 after buying an additional 538,969 shares during the period. American Century Companies Inc. lifted its holdings in Invesco by 6.3% in the third quarter. American Century Companies Inc. now owns 9,478,671 shares of the asset manager’s stock valued at $332,133,000 after buying an additional 563,407 shares during the period. Bank of New York Mellon Corp lifted its holdings in Invesco by 1.0% in the third quarter. Bank of New York Mellon Corp now owns 9,374,021 shares of the asset manager’s stock valued at $328,466,000 after buying an additional 88,330 shares during the period. Finally, Kiltearn Partners LLP lifted its holdings in Invesco by 38.5% in the second quarter. Kiltearn Partners LLP now owns 5,765,510 shares of the asset manager’s stock valued at $202,888,000 after buying an additional 1,602,510 shares during the period. Institutional investors own 81.38% of the company’s stock.
Invesco PLC (IVZ) traded down $0.22 on Wednesday, reaching $37.17. 2,837,800 shares of the company’s stock traded hands, compared to its average volume of 2,711,366. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.75. The firm has a market capitalization of $15,220.65, a price-to-earnings ratio of 14.66, a PEG ratio of 1.18 and a beta of 1.81. Invesco PLC has a 12 month low of $28.75 and a 12 month high of $37.85.
Invesco (NYSE:IVZ) last posted its earnings results on Thursday, October 26th. The asset manager reported $0.71 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.05. The company had revenue of $976.60 million for the quarter, compared to analyst estimates of $940.96 million. Invesco had a net margin of 18.99% and a return on equity of 13.02%. The business’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same period last year, the business posted $0.60 earnings per share. research analysts forecast that Invesco PLC will post 2.66 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, December 4th. Shareholders of record on Tuesday, November 14th were issued a $0.29 dividend. The ex-dividend date was Monday, November 13th. This represents a $1.16 annualized dividend and a yield of 3.12%. Invesco’s dividend payout ratio (DPR) is presently 50.44%.
In other Invesco news, insider Colin Meadows sold 54,215 shares of the stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $36.01, for a total value of $1,952,282.15. Following the sale, the insider now directly owns 164,420 shares in the company, valued at $5,920,764.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 1.80% of the company’s stock.
Several brokerages recently weighed in on IVZ. Citigroup increased their price objective on shares of Invesco from $43.00 to $44.00 and gave the company a “buy” rating in a report on Friday, October 27th. ValuEngine upgraded shares of Invesco from a “hold” rating to a “buy” rating in a report on Wednesday, December 6th. Royal Bank of Canada restated a “buy” rating and issued a $41.00 price objective on shares of Invesco in a report on Friday, October 27th. Zacks Investment Research lowered shares of Invesco from a “buy” rating to a “hold” rating in a report on Thursday, October 12th. Finally, Wells Fargo & Company increased their price objective on shares of Invesco from $38.00 to $40.00 and gave the company an “outperform” rating in a report on Wednesday, October 11th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $38.50.
Invesco 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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