KBC Group NV Sells 56,258 Shares of Invesco Ltd. $IVZ

KBC Group NV lessened its stake in Invesco Ltd. (NYSE:IVZ) by 83.1% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 11,414 shares of the asset manager’s stock after selling 56,258 shares during the quarter. KBC Group NV’s holdings in Invesco were worth $180,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Goldman Sachs Group Inc. increased its holdings in Invesco by 99.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 7,026,920 shares of the asset manager’s stock valued at $106,598,000 after acquiring an additional 3,507,150 shares during the last quarter. AQR Capital Management LLC grew its position in shares of Invesco by 35.4% during the first quarter. AQR Capital Management LLC now owns 11,028,524 shares of the asset manager’s stock valued at $165,262,000 after purchasing an additional 2,882,928 shares in the last quarter. Nuveen LLC bought a new stake in shares of Invesco in the first quarter worth about $29,138,000. Jefferies Financial Group Inc. purchased a new stake in shares of Invesco in the first quarter worth about $14,433,000. Finally, Northern Trust Corp boosted its stake in Invesco by 11.3% during the first quarter. Northern Trust Corp now owns 7,083,410 shares of the asset manager’s stock valued at $107,455,000 after buying an additional 721,947 shares during the last quarter. Institutional investors own 66.09% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on IVZ. BMO Capital Markets reaffirmed an “outperform” rating on shares of Invesco in a report on Friday, October 24th. Cowen reaffirmed a “buy” rating on shares of Invesco in a research note on Thursday, September 18th. Fundamental Research set a $27.00 price objective on shares of Invesco in a research note on Friday, October 31st. Wall Street Zen upgraded shares of Invesco from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Finally, Zacks Research raised shares of Invesco from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 6th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $23.70.

Insider Buying and Selling

In other Invesco news, Director Stephanie Butcher sold 103,192 shares of the stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $22.12, for a total value of $2,282,607.04. Following the sale, the director owned 29,855 shares in the company, valued at $660,392.60. This trade represents a 77.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Douglas J. Sharp sold 160,000 shares of the business’s stock in a transaction on Friday, October 31st. The shares were sold at an average price of $23.56, for a total transaction of $3,769,600.00. Following the sale, the director directly owned 192 shares of the company’s stock, valued at $4,523.52. This represents a 99.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.21% of the stock is currently owned by company insiders.

Invesco Price Performance

Invesco stock opened at $22.94 on Thursday. The firm has a 50-day moving average price of $23.15 and a 200-day moving average price of $19.71. The firm has a market capitalization of $10.21 billion, a PE ratio of 15.60, a price-to-earnings-growth ratio of 0.85 and a beta of 1.72. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.67. Invesco Ltd. has a 12-month low of $11.60 and a 12-month high of $24.75.

Invesco (NYSE:IVZ) last issued its quarterly earnings results on Tuesday, October 28th. The asset manager reported $0.61 EPS for the quarter, beating the consensus estimate of $0.44 by $0.17. Invesco had a net margin of 14.15% and a return on equity of 8.52%. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the prior year, the firm posted $0.44 EPS. The firm’s revenue was up 7.4% compared to the same quarter last year. As a group, equities research analysts forecast that Invesco Ltd. will post 1.87 EPS for the current year.

Invesco Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 2nd. Stockholders of record on Friday, November 14th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Friday, November 14th. Invesco’s dividend payout ratio is presently 57.14%.

Invesco Profile

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.