Connor Clark & Lunn Investment Management Ltd. Grows Stock Holdings in Invesco Ltd. $IVZ

Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Invesco Ltd. (NYSE:IVZ) by 1,164.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 196,792 shares of the asset manager’s stock after acquiring an additional 181,232 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Invesco were worth $3,103,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. IFP Advisors Inc boosted its position in Invesco by 55.7% during the second quarter. IFP Advisors Inc now owns 2,127 shares of the asset manager’s stock worth $34,000 after purchasing an additional 761 shares in the last quarter. Forum Financial Management LP grew its stake in Invesco by 4.8% in the 2nd quarter. Forum Financial Management LP now owns 17,327 shares of the asset manager’s stock valued at $273,000 after acquiring an additional 791 shares during the last quarter. EP Wealth Advisors LLC grew its stake in Invesco by 6.8% in the 1st quarter. EP Wealth Advisors LLC now owns 12,477 shares of the asset manager’s stock valued at $189,000 after acquiring an additional 792 shares during the last quarter. Brooklyn Investment Group raised its position in Invesco by 17.1% during the first quarter. Brooklyn Investment Group now owns 5,465 shares of the asset manager’s stock worth $83,000 after acquiring an additional 800 shares during the last quarter. Finally, UMB Bank n.a. lifted its holdings in shares of Invesco by 45.8% in the second quarter. UMB Bank n.a. now owns 2,623 shares of the asset manager’s stock valued at $41,000 after purchasing an additional 824 shares in the last quarter. Institutional investors and hedge funds own 66.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on IVZ. Morgan Stanley reiterated a “positive” rating on shares of Invesco in a report on Monday, October 6th. Cowen restated a “buy” rating on shares of Invesco in a report on Thursday, September 18th. Citigroup lifted their price target on shares of Invesco from $22.00 to $25.00 and gave the stock a “neutral” rating in a report on Monday, September 29th. Bank of America lifted their price objective on Invesco from $23.00 to $25.00 and gave the company a “neutral” rating in a research report on Thursday, October 2nd. Finally, BMO Capital Markets restated an “outperform” rating on shares of Invesco in a report on Friday, October 24th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $23.70.

Insider Activity

In related news, Director Douglas J. Sharp sold 160,000 shares of the firm’s stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $23.56, for a total transaction of $3,769,600.00. Following the sale, the director directly owned 192 shares in the company, valued at approximately $4,523.52. This trade represents a 99.88% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Stephanie Butcher sold 103,192 shares of the company’s stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $22.12, for a total value of $2,282,607.04. Following the completion of the transaction, the director owned 29,855 shares of the company’s stock, valued at approximately $660,392.60. This represents a 77.56% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 1.21% of the company’s stock.

Invesco Stock Down 2.0%

Shares of NYSE:IVZ opened at $23.51 on Friday. Invesco Ltd. has a 1 year low of $11.60 and a 1 year high of $24.75. The stock has a 50-day simple moving average of $23.12 and a 200-day simple moving average of $19.49. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.30 and a current ratio of 1.30. The stock has a market capitalization of $10.49 billion, a P/E ratio of 15.99, a PEG ratio of 0.85 and a beta of 1.72.

Invesco (NYSE:IVZ) last announced its quarterly earnings results on Tuesday, October 28th. The asset manager reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.17. Invesco had a net margin of 14.15% and a return on equity of 8.52%. The firm had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same period in the previous year, the company posted $0.44 earnings per share. Invesco’s revenue was up 7.4% compared to the same quarter last year. Equities analysts forecast that Invesco Ltd. will post 1.87 earnings per share for the current year.

Invesco Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 2nd. Investors of record on Friday, November 14th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 3.6%. The ex-dividend date is Friday, November 14th. Invesco’s dividend payout ratio is currently 57.14%.

About Invesco

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.