Korea Investment CORP Acquires 32,700 Shares of Invesco Ltd. (IVZ)
Korea Investment CORP raised its holdings in Invesco Ltd. (NYSE:IVZ) by 16.0% in the fourth quarter, Holdings Channel reports. The fund owned 236,738 shares of the asset manager’s stock after buying an additional 32,700 shares during the period. Korea Investment CORP’s holdings in Invesco were worth $3,963,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in Invesco by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 43,577,656 shares of the asset manager’s stock valued at $997,058,000 after acquiring an additional 524,580 shares during the last quarter. Vanguard Group Inc increased its holdings in shares of Invesco by 1.2% during the 3rd quarter. Vanguard Group Inc now owns 43,577,656 shares of the asset manager’s stock worth $997,058,000 after buying an additional 524,580 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Invesco by 4.6% during the 4th quarter. BlackRock Inc. now owns 34,987,298 shares of the asset manager’s stock worth $585,687,000 after buying an additional 1,552,429 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Invesco by 12.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 11,308,238 shares of the asset manager’s stock worth $258,733,000 after buying an additional 1,263,803 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Invesco by 10.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 11,058,312 shares of the asset manager’s stock worth $253,013,000 after buying an additional 1,001,343 shares during the last quarter. Institutional investors own 78.00% of the company’s stock.
Invesco stock opened at $19.35 on Friday. Invesco Ltd. has a fifty-two week low of $15.38 and a fifty-two week high of $33.55. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.54 and a quick ratio of 1.54. The company has a market capitalization of $7.53 billion, a P/E ratio of 7.96, a P/E/G ratio of 1.09 and a beta of 1.53.
The business also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Thursday, February 14th were issued a $0.30 dividend. The ex-dividend date was Wednesday, February 13th. This represents a $1.20 annualized dividend and a yield of 6.20%. Invesco’s dividend payout ratio (DPR) is presently 49.38%.
In other Invesco news, major shareholder Ltd. Invesco purchased 425,531 shares of the firm’s stock in a transaction on Friday, February 8th. The stock was bought at an average price of $2.64 per share, with a total value of $1,123,401.84. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Rod Canion purchased 20,000 shares of the firm’s stock in a transaction on Thursday, February 21st. The stock was acquired at an average cost of $18.89 per share, with a total value of $377,800.00. Following the transaction, the director now directly owns 84,451 shares in the company, valued at $1,595,279.39. The disclosure for this purchase can be found here. Insiders purchased a total of 455,531 shares of company stock valued at $1,680,902 in the last quarter. 1.80% of the stock is owned by insiders.
A number of brokerages have recently issued reports on IVZ. Barclays restated a “buy” rating and set a $19.00 price target on shares of Invesco in a report on Thursday, January 10th. Deutsche Bank cut their price target on shares of Invesco from $27.00 to $25.00 and set a “buy” rating for the company in a report on Friday, November 16th. Zacks Investment Research upgraded shares of Invesco from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 15th. Wells Fargo & Co downgraded shares of Invesco from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $27.00 to $22.00 in a report on Tuesday, December 4th. Finally, Citigroup cut their price target on shares of Invesco from $23.00 to $18.00 and set a “neutral” rating for the company in a report on Wednesday, December 19th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $23.70.
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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