Insider Buying: Invesco Ltd. (NYSE:IVZ) Major Shareholder Acquires 2,222,222 Shares of Stock
Invesco Ltd. (NYSE:IVZ) major shareholder Ltd. Invesco bought 2,222,222 shares of the stock in a transaction on Monday, June 10th. The shares were bought at an average price of $4.50 per share, for a total transaction of $9,999,999.00. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.
Shares of IVZ stock traded down $0.26 during mid-day trading on Wednesday, hitting $20.35. 50,645 shares of the company’s stock were exchanged, compared to its average volume of 4,490,445. Invesco Ltd. has a fifty-two week low of $15.38 and a fifty-two week high of $28.53. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 0.86. The stock has a market capitalization of $8.21 billion, a price-to-earnings ratio of 8.36, a price-to-earnings-growth ratio of 1.03 and a beta of 1.54.
Invesco (NYSE:IVZ) last posted its quarterly earnings data on Thursday, April 25th. The asset manager reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.03. Invesco had a return on equity of 10.48% and a net margin of 15.59%. The business had revenue of $887.10 million for the quarter, compared to analysts’ expectations of $884.93 million. During the same quarter last year, the firm earned $0.67 earnings per share. The business’s revenue was down 7.4% on a year-over-year basis. As a group, analysts anticipate that Invesco Ltd. will post 2.32 earnings per share for the current fiscal year.
Institutional investors have recently modified their holdings of the stock. FinTrust Capital Advisors LLC raised its position in Invesco by 21.7% in the first quarter. FinTrust Capital Advisors LLC now owns 2,909 shares of the asset manager’s stock valued at $56,000 after purchasing an additional 519 shares during the period. Parallel Advisors LLC raised its position in Invesco by 58.8% in the first quarter. Parallel Advisors LLC now owns 1,436 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 532 shares during the period. AdvisorNet Financial Inc raised its position in Invesco by 8.7% in the first quarter. AdvisorNet Financial Inc now owns 7,106 shares of the asset manager’s stock valued at $137,000 after purchasing an additional 569 shares during the period. Dean Investment Associates LLC raised its position in Invesco by 1.0% in the fourth quarter. Dean Investment Associates LLC now owns 67,158 shares of the asset manager’s stock valued at $1,124,000 after purchasing an additional 647 shares during the period. Finally, Rehmann Capital Advisory Group raised its position in Invesco by 100.0% in the first quarter. Rehmann Capital Advisory Group now owns 1,338 shares of the asset manager’s stock valued at $26,000 after purchasing an additional 669 shares during the period. Hedge funds and other institutional investors own 76.26% of the company’s stock.
A number of brokerages have commented on IVZ. William Blair reiterated a “market perform” rating on shares of Invesco in a report on Thursday, April 25th. Deutsche Bank increased their target price on Invesco from $20.00 to $22.00 and gave the company a “hold” rating in a report on Friday, April 26th. UBS Group cut Invesco from a “neutral” rating to a “sell” rating and set a $18.00 target price on the stock. in a report on Monday, May 13th. Edward Jones cut Invesco from a “buy” rating to a “hold” rating in a report on Thursday, April 11th. Finally, Zacks Investment Research cut Invesco from a “buy” rating to a “hold” rating in a report on Wednesday, May 22nd. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the company’s stock. Invesco currently has a consensus rating of “Hold” and an average target price of $22.09.
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.
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