First Republic Investment Management Inc. Raises Stake in Invesco PLC (IVZ)
First Republic Investment Management Inc. lifted its stake in shares of Invesco PLC (NYSE:IVZ) by 64.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 36,959 shares of the asset manager’s stock after acquiring an additional 14,534 shares during the quarter. First Republic Investment Management Inc.’s holdings in Invesco were worth $1,295,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of IVZ. Flinton Capital Management LLC increased its holdings in Invesco by 0.8% during the second quarter. Flinton Capital Management LLC now owns 10,368 shares of the asset manager’s stock valued at $365,000 after buying an additional 80 shares during the period. Riverhead Capital Management LLC grew its holdings in Invesco by 1.3% in the second quarter. Riverhead Capital Management LLC now owns 11,593 shares of the asset manager’s stock worth $408,000 after purchasing an additional 144 shares during the last quarter. Cubist Systematic Strategies LLC grew its holdings in Invesco by 0.3% in the second quarter. Cubist Systematic Strategies LLC now owns 61,079 shares of the asset manager’s stock worth $2,149,000 after purchasing an additional 202 shares during the last quarter. Greenwood Capital Associates LLC grew its holdings in Invesco by 1.0% in the second quarter. Greenwood Capital Associates LLC now owns 20,753 shares of the asset manager’s stock worth $730,000 after purchasing an additional 215 shares during the last quarter. Finally, Veritable L.P. grew its holdings in Invesco by 1.9% in the second quarter. Veritable L.P. now owns 11,997 shares of the asset manager’s stock worth $422,000 after purchasing an additional 219 shares during the last quarter. 81.38% of the stock is currently owned by institutional investors and hedge funds.
In other news, insider Colin Meadows sold 54,215 shares of Invesco stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $36.01, for a total transaction of $1,952,282.15. Following the completion of 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 legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.80% of the company’s stock.
Invesco (NYSE:IVZ) last posted its quarterly earnings data on Thursday, October 26th. The asset manager reported $0.71 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.05. Invesco had a net margin of 18.99% and a return on equity of 13.02%. The business had revenue of $976.60 million during the quarter, compared to the consensus estimate of $940.96 million. During the same period in the previous year, the firm posted $0.60 earnings per share. The business’s revenue for the quarter was up 14.3% compared to the same quarter last year. research analysts predict that Invesco PLC will post 2.66 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, December 4th. Stockholders of record on Tuesday, November 14th were paid a dividend of $0.29 per share. The ex-dividend date was Monday, November 13th. This represents a $1.16 annualized dividend and a dividend yield of 3.14%. Invesco’s payout ratio is currently 50.44%.
Several equities analysts have issued reports on IVZ shares. Zacks Investment Research lowered shares of Invesco from a “buy” rating to a “hold” rating in a report on Thursday, October 12th. ValuEngine raised shares of Invesco from a “hold” rating to a “buy” rating in a report on Wednesday, December 6th. Wells Fargo & Company lifted their price target on shares of Invesco from $38.00 to $40.00 and gave the stock an “outperform” rating in a report on Wednesday, October 11th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $39.00 price target on shares of Invesco in a report on Tuesday, October 3rd. Finally, Goldman Sachs Group lowered shares of Invesco from a “buy” rating to a “neutral” rating and cut their price target for the stock from $38.00 to $36.00 in a report on Thursday, September 28th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $38.50.
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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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