Olstein Capital Management L.P. Has $10.83 Million Stake in Invesco PLC (IVZ)
Olstein Capital Management L.P. lifted its position in Invesco PLC (NYSE:IVZ) by 3.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 309,000 shares of the asset manager’s stock after acquiring an additional 10,400 shares during the quarter. Invesco PLC accounts for 1.4% of Olstein Capital Management L.P.’s portfolio, making the stock its 18th largest position. Olstein Capital Management L.P. owned about 0.08% of Invesco PLC worth $10,827,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Duncker Streett & Co. Inc. increased its stake in Invesco PLC by 0.9% in the 2nd quarter. Duncker Streett & Co. Inc. now owns 6,120 shares of the asset manager’s stock worth $215,000 after buying an additional 53 shares during the period. Flinton Capital Management LLC increased its stake in Invesco PLC by 0.8% in the 2nd quarter. Flinton Capital Management LLC now owns 10,368 shares of the asset manager’s stock worth $365,000 after buying an additional 80 shares during the period. IFC Holdings Incorporated FL increased its stake in Invesco PLC by 0.7% in the 2nd quarter. IFC Holdings Incorporated FL now owns 12,161 shares of the asset manager’s stock worth $428,000 after buying an additional 90 shares during the period. Huntington National Bank increased its stake in Invesco PLC by 0.7% in the 2nd quarter. Huntington National Bank now owns 14,321 shares of the asset manager’s stock worth $504,000 after buying an additional 103 shares during the period. Finally, Riverhead Capital Management LLC increased its stake in Invesco PLC by 1.3% in the 2nd quarter. Riverhead Capital Management LLC now owns 11,593 shares of the asset manager’s stock worth $408,000 after buying an additional 144 shares during the period. Hedge funds and other institutional investors own 81.84% of the company’s stock.
Shares of Invesco PLC (NYSE:IVZ) traded up $0.17 during trading on Wednesday, hitting $35.63. 2,075,300 shares of the stock were exchanged, compared to its average volume of 2,730,996. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.50 and a current ratio of 1.50. Invesco PLC has a 52-week low of $28.75 and a 52-week high of $37.75. The stock has a market cap of $14,434.99, a P/E ratio of 13.91, a P/E/G ratio of 1.12 and a beta of 1.81.
Invesco PLC (NYSE:IVZ) last issued its quarterly earnings data on Thursday, October 26th. The asset manager reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.05. Invesco PLC had a net margin of 18.99% and a return on equity of 13.02%. The firm had revenue of $976.60 million for the quarter, compared to the consensus estimate of $940.96 million. During the same quarter in the previous year, the firm earned $0.60 EPS. The company’s quarterly revenue was up 14.3% compared to the same quarter last year. equities research analysts expect that Invesco PLC will post 2.66 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 4th. Stockholders of record on Tuesday, November 14th will be given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date of this dividend is Monday, November 13th. Invesco PLC’s payout ratio is currently 50.44%.
In other news, insider Colin Meadows sold 54,215 shares of Invesco PLC stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $36.01, for a total value of $1,952,282.15. Following the transaction, the insider now owns 164,420 shares of the company’s stock, valued at approximately $5,920,764.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.80% of the stock is owned by insiders.
Several research firms recently commented on IVZ. BidaskClub downgraded shares of Invesco PLC from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Wells Fargo & Company reaffirmed an “outperform” rating on shares of Invesco PLC in a research note on Sunday, July 30th. Barclays PLC began coverage on shares of Invesco PLC in a research note on Friday, September 8th. They issued an “overweight” rating and a $38.00 price target on the stock. Jefferies Group LLC set a $41.00 price target on shares of Invesco PLC and gave the stock a “buy” rating in a research note on Thursday, August 17th. Finally, Zacks Investment Research downgraded shares of Invesco PLC from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. One analyst has rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $38.50.
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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