Invesco Ltd. (IVZ) Holdings Lifted by Korea Investment CORP
Korea Investment CORP raised its holdings in Invesco Ltd. (NYSE:IVZ) by 13.2% in the second quarter, HoldingsChannel.com reports. The firm owned 88,931 shares of the asset manager’s stock after purchasing an additional 10,400 shares during the period. Korea Investment CORP’s holdings in Invesco were worth $2,362,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also made changes to their positions in the business. American Century Companies Inc. grew its stake in shares of Invesco by 41.3% during the 2nd quarter. American Century Companies Inc. now owns 16,442,516 shares of the asset manager’s stock worth $436,713,000 after acquiring an additional 4,801,968 shares during the period. BlackRock Inc. grew its stake in shares of Invesco by 10.5% during the 1st quarter. BlackRock Inc. now owns 34,426,896 shares of the asset manager’s stock worth $1,102,006,000 after acquiring an additional 3,283,953 shares during the period. Federated Investors Inc. PA grew its stake in shares of Invesco by 181.4% during the 2nd quarter. Federated Investors Inc. PA now owns 2,375,762 shares of the asset manager’s stock worth $63,100,000 after acquiring an additional 1,531,418 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Invesco by 155.9% during the 1st quarter. The Manufacturers Life Insurance Company now owns 2,442,040 shares of the asset manager’s stock worth $78,170,000 after acquiring an additional 1,487,595 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of Invesco by 48.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 4,395,993 shares of the asset manager’s stock worth $116,758,000 after acquiring an additional 1,424,944 shares during the period. Hedge funds and other institutional investors own 78.80% of the company’s stock.
Several research analysts have recently weighed in on the company. UBS Group increased their price target on Invesco from $30.00 to $31.00 and gave the stock a “neutral” rating in a research note on Thursday, May 24th. ValuEngine downgraded Invesco from a “sell” rating to a “strong sell” rating in a research note on Saturday, June 2nd. TheStreet downgraded Invesco from a “b-” rating to a “c+” rating in a research note on Tuesday, May 29th. Zacks Investment Research upgraded Invesco from a “sell” rating to a “hold” rating in a research note on Thursday, June 28th. Finally, Credit Suisse Group cut their price target on Invesco from $39.00 to $37.00 and set an “outperform” rating for the company in a research note on Friday, July 27th. One analyst has rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company. Invesco currently has a consensus rating of “Hold” and a consensus target price of $35.79.
Invesco (NYSE:IVZ) last issued its quarterly earnings data on Thursday, July 26th. The asset manager reported $0.66 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.66. The business had revenue of $974.00 million for the quarter, compared to analysts’ expectations of $960.91 million. Invesco had a return on equity of 12.70% and a net margin of 21.64%. The firm’s quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.64 EPS. research analysts expect that Invesco Ltd. will post 2.71 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 4th. Investors of record on Thursday, August 16th were issued a dividend of $0.30 per share. The ex-dividend date was Wednesday, August 15th. This represents a $1.20 dividend on an annualized basis and a yield of 5.05%. Invesco’s dividend payout ratio (DPR) is 44.44%.
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.
Read More: Hedge Funds – Risk or Reward?
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