Illinois Municipal Retirement Fund Invests $1.25 Million in Invesco Ltd. $IVZ

Illinois Municipal Retirement Fund purchased a new stake in Invesco Ltd. (NYSE:IVZ) in the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 51,617 shares of the asset manager’s stock, valued at approximately $1,254,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in Invesco by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 52,965,761 shares of the asset manager’s stock valued at $1,391,411,000 after buying an additional 947,693 shares in the last quarter. State Street Corp lifted its position in shares of Invesco by 1.5% during the 2nd quarter. State Street Corp now owns 22,260,704 shares of the asset manager’s stock valued at $351,051,000 after acquiring an additional 332,340 shares during the period. AQR Capital Management LLC boosted its stake in shares of Invesco by 5.3% during the 2nd quarter. AQR Capital Management LLC now owns 11,612,559 shares of the asset manager’s stock worth $182,491,000 after acquiring an additional 584,035 shares in the last quarter. Invesco Ltd. purchased a new stake in shares of Invesco during the 4th quarter worth approximately $230,391,000. Finally, Alliancebernstein L.P. grew its holdings in shares of Invesco by 13.4% in the 2nd quarter. Alliancebernstein L.P. now owns 7,924,717 shares of the asset manager’s stock worth $124,973,000 after acquiring an additional 939,365 shares during the period. Institutional investors and hedge funds own 66.09% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. BMO Capital Markets dropped their price objective on Invesco from $32.00 to $28.00 and set an “outperform” rating for the company in a research note on Friday, April 10th. Weiss Ratings upgraded Invesco from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, June 29th. TD Cowen upped their target price on Invesco from $32.00 to $33.00 and gave the company a “buy” rating in a report on Monday, June 8th. Argus restated a “hold” rating on shares of Invesco in a research report on Wednesday, April 29th. Finally, Morgan Stanley lifted their price target on Invesco from $29.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Friday, July 17th. Four research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $29.15.

Invesco Trading Up 1.4%

Shares of IVZ opened at $30.54 on Thursday. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.45 and a quick ratio of 1.45. Invesco Ltd. has a 1-year low of $20.08 and a 1-year high of $31.02. The stock has a market cap of $13.54 billion, a price-to-earnings ratio of -20.77, a price-to-earnings-growth ratio of 0.49 and a beta of 1.62. The firm has a 50 day simple moving average of $27.88 and a 200-day simple moving average of $26.62.

Invesco (NYSE:IVZ) last posted its earnings results on Tuesday, April 28th. The asset manager reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.01). The company had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.27 billion. Invesco had a negative net margin of 6.11% and a positive return on equity of 11.34%. Invesco’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.44 EPS. Equities analysts forecast that Invesco Ltd. will post 2.78 EPS for the current fiscal year.

Invesco Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 2nd. Stockholders of record on Friday, May 15th were issued a $0.215 dividend. This represents a $0.86 dividend on an annualized basis and a dividend yield of 2.8%. This is a positive change from Invesco’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Friday, May 15th. Invesco’s payout ratio is presently -58.50%.

About Invesco

Invesco Ltd. is an independent global investment management firm headquartered in Atlanta, Georgia, and publicly traded on the New York Stock Exchange (NYSE: IVZ). With origins dating back to 1935, the company is dedicated to offering a wide array of investment strategies and solutions to both individual and institutional clients worldwide.

The firm’s product suite encompasses actively managed equity and fixed income funds, passive index funds, exchange-traded funds (ETFs), closed-end funds, and unit investment trusts, alongside specialized offerings such as private markets, real estate, and structured products.