CLS Investments LLC Invests $389,000 in Invesco PLC (IVZ) Stock
CLS Investments LLC purchased a new stake in shares of Invesco PLC (NYSE:IVZ) in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 11,104 shares of the asset manager’s stock, valued at approximately $389,000.
A number of other hedge funds have also made changes to their positions in IVZ. Sun Life Financial INC bought a new stake in Invesco during the 3rd quarter valued at $145,000. C M Bidwell & Associates Ltd. bought a new stake in shares of Invesco in the 2nd quarter worth $185,000. ETRADE Capital Management LLC bought a new stake in shares of Invesco in the 3rd quarter worth $205,000. Financial Counselors Inc. bought a new stake in shares of Invesco in the 2nd quarter worth $215,000. Finally, Bluefin Trading LLC bought a new stake in shares of Invesco in the 2nd quarter worth $216,000. Institutional investors and hedge funds own 81.38% of the company’s stock.
Invesco PLC (IVZ) opened at $37.67 on Friday. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.75. The firm has a market cap of $15,200.29, a PE ratio of 14.64, a P/E/G ratio of 1.18 and a beta of 1.81. Invesco PLC has a fifty-two week low of $28.75 and a fifty-two week high of $37.82.
Invesco (NYSE:IVZ) last issued its quarterly earnings results on Thursday, October 26th. The asset manager reported $0.71 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.05. The company had revenue of $976.60 million for the quarter, compared to the consensus estimate of $940.96 million. Invesco had a net margin of 18.99% and a return on equity of 13.02%. The firm’s quarterly revenue was up 14.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.60 EPS. analysts predict that Invesco PLC will post 2.66 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, December 4th. Investors of record on Tuesday, November 14th were issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date was Monday, November 13th. Invesco’s dividend payout ratio (DPR) is currently 50.44%.
IVZ has been the subject of several recent analyst reports. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $39.00 target price on shares of Invesco in a research note on Tuesday, October 3rd. Citigroup upped their target price on shares of Invesco from $38.50 to $39.50 and gave the stock a “buy” rating in a research note on Tuesday, October 3rd. ValuEngine upgraded shares of Invesco from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Zacks Investment Research upgraded shares of Invesco from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a research note on Wednesday, October 11th. Finally, Jefferies Group set a $41.00 target price on shares of Invesco and gave the stock a “buy” rating in a research note on Thursday, August 17th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $38.50.
In related news, insider Colin Meadows sold 54,215 shares of the business’s stock in a transaction dated 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 transaction, the insider now directly owns 164,420 shares of the company’s stock, valued at approximately $5,920,764.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.80% of the stock is currently owned by insiders.
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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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