Invesco PLC (IVZ) Position Lowered by Forward Management LLC
Forward Management LLC reduced its position in shares of Invesco PLC (NYSE:IVZ) by 3.1% during the second quarter, Holdings Channel reports. The firm owned 29,002 shares of the asset manager’s stock after selling 917 shares during the period. Forward Management LLC’s holdings in Invesco PLC were worth $1,020,000 at the end of the most recent reporting period.
Several other hedge funds have also bought and sold shares of the stock. Wetherby Asset Management Inc. boosted its stake in Invesco PLC by 18.0% in the second quarter. Wetherby Asset Management Inc. now owns 8,372 shares of the asset manager’s stock worth $294,000 after buying an additional 1,280 shares during the period. Canada Pension Plan Investment Board boosted its stake in Invesco PLC by 12.7% in the second quarter. Canada Pension Plan Investment Board now owns 766,336 shares of the asset manager’s stock worth $26,967,000 after buying an additional 86,400 shares during the period. Rockland Trust Co. acquired a new stake in Invesco PLC during the second quarter worth approximately $1,816,000. Global X Management Co. LLC boosted its stake in Invesco PLC by 14.6% in the second quarter. Global X Management Co. LLC now owns 6,397 shares of the asset manager’s stock worth $225,000 after buying an additional 815 shares during the period. Finally, BP PLC acquired a new stake in Invesco PLC during the second quarter worth approximately $1,654,000. Institutional investors and hedge funds own 79.80% of the company’s stock.
Shares of Invesco PLC (NYSE:IVZ) opened at 33.54 on Friday. Invesco PLC has a 52 week low of $27.46 and a 52 week high of $36.84. The stock has a 50 day moving average price of $35.36 and a 200-day moving average price of $32.72. The firm has a market capitalization of $13.65 billion, a price-to-earnings ratio of 14.95 and a beta of 1.80.
Invesco PLC (NYSE:IVZ) last released its quarterly earnings data on Thursday, July 27th. The asset manager reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.03. Invesco PLC had a return on equity of 12.74% and a net margin of 18.98%. The firm had revenue of $906.30 million during the quarter, compared to the consensus estimate of $891.19 million. During the same period last year, the business posted $0.56 EPS. Invesco PLC’s quarterly revenue was up 4.5% on a year-over-year basis. On average, analysts anticipate that Invesco PLC will post $2.54 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Thursday, August 17th will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 3.46%. The ex-dividend date is Tuesday, August 15th. Invesco PLC’s payout ratio is currently 52.02%.
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A number of analysts have recently commented on the company. Zacks Investment Research cut Invesco PLC from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. BidaskClub cut Invesco PLC from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Jefferies Group LLC restated a “buy” rating and issued a $41.00 price objective on shares of Invesco PLC in a research report on Sunday, July 30th. Wells Fargo & Company restated an “outperform” rating on shares of Invesco PLC in a research report on Sunday, July 30th. Finally, Keefe, Bruyette & Woods restated a “buy” rating and issued a $39.00 price objective on shares of Invesco PLC in a research report on Sunday, July 30th. Four research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $37.29.
About Invesco PLC
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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