Jennison Associates LLC Sells 25,565 Shares of Invesco PLC (IVZ)
Jennison Associates LLC decreased its position in Invesco PLC (NYSE:IVZ) by 80.7% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,100 shares of the asset manager’s stock after selling 25,565 shares during the period. Jennison Associates LLC’s holdings in Invesco PLC were worth $215,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of IVZ. Financial Architects Inc boosted its stake in Invesco PLC by 54.3% in the second quarter. Financial Architects Inc now owns 3,073 shares of the asset manager’s stock valued at $109,000 after buying an additional 1,082 shares during the period. IFP Advisors Inc boosted its stake in Invesco PLC by 5.9% in the first quarter. IFP Advisors Inc now owns 3,950 shares of the asset manager’s stock valued at $121,000 after buying an additional 221 shares during the period. Global X Management Co. LLC boosted its stake in Invesco PLC by 29.4% in the first quarter. Global X Management Co. LLC now owns 5,582 shares of the asset manager’s stock valued at $171,000 after buying an additional 1,267 shares during the period. Gilbert & Cook Inc. purchased a new stake in Invesco PLC during the second quarter valued at approximately $203,000. Finally, Cornerstone Investment Partners LLC purchased a new stake in Invesco PLC during the second quarter valued at approximately $206,000. Hedge funds and other institutional investors own 79.70% of the company’s stock.
Shares of Invesco PLC (NYSE IVZ) opened at 32.44 on Thursday. The firm has a market cap of $13.20 billion, a PE ratio of 14.46 and a beta of 1.80. The company has a 50 day moving average of $34.77 and a 200 day moving average of $32.97. Invesco PLC has a 52 week low of $27.46 and a 52 week high of $36.83.
Invesco PLC (NYSE:IVZ) last issued its earnings results on Thursday, July 27th. The asset manager reported $0.64 earnings per share (EPS) for the quarter, topping the Zacks’ 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 for the quarter, compared to analysts’ expectations of $891.19 million. During the same quarter last year, the business earned $0.56 earnings per share. The company’s revenue was up 4.5% compared to the same quarter last year. On average, equities research analysts anticipate that Invesco PLC will post $2.54 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Thursday, August 17th will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date of this dividend is Tuesday, August 15th. Invesco PLC’s dividend payout ratio (DPR) is currently 52.02%.
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Several analysts have recently commented on the stock. Royal Bank Of Canada assumed coverage on shares of Invesco PLC in a research note on Thursday, June 29th. They issued an “outperform” rating and a $41.00 target price for the company. Jefferies Group LLC restated a “buy” rating and issued a $41.00 target price on shares of Invesco PLC in a research note on Sunday, July 30th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $36.00 target price on shares of Invesco PLC in a research note on Sunday, July 2nd. ValuEngine upgraded shares of Invesco PLC from a “hold” rating to a “buy” rating in a research note on Friday, June 9th. Finally, BidaskClub cut shares of Invesco PLC from a “hold” rating to a “sell” rating in a research note on Saturday, August 19th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $37.29.
Invesco PLC Company Profile
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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