Rhumbline Advisers Raises Stock Position in Invesco Ltd. $IVZ

Rhumbline Advisers grew its stake in shares of Invesco Ltd. (NYSE:IVZ) by 10.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 872,107 shares of the asset manager’s stock after acquiring an additional 82,063 shares during the period. Rhumbline Advisers owned about 0.20% of Invesco worth $13,753,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Federated Hermes Inc. increased its stake in Invesco by 186.6% in the 1st quarter. Federated Hermes Inc. now owns 1,969 shares of the asset manager’s stock valued at $30,000 after purchasing an additional 1,282 shares in the last quarter. SVB Wealth LLC purchased a new stake in Invesco during the first quarter worth $32,000. IFP Advisors Inc grew its holdings in Invesco by 55.7% in the second quarter. IFP Advisors Inc now owns 2,127 shares of the asset manager’s stock valued at $34,000 after purchasing an additional 761 shares during the last quarter. Summit Securities Group LLC purchased a new position in shares of Invesco in the first quarter valued at $41,000. Finally, UMB Bank n.a. raised its stake in shares of Invesco by 45.8% during the 2nd quarter. UMB Bank n.a. now owns 2,623 shares of the asset manager’s stock worth $41,000 after buying an additional 824 shares during the last quarter. Institutional investors and hedge funds own 66.09% of the company’s stock.

Analyst Upgrades and Downgrades

IVZ has been the topic of a number of research reports. Wall Street Zen raised shares of Invesco from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Fundamental Research set a $27.00 price target on shares of Invesco in a research report on Friday, October 31st. Royal Bank Of Canada raised their price objective on shares of Invesco from $23.00 to $25.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 30th. Zacks Research raised Invesco from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 6th. Finally, Barclays raised their price target on Invesco from $24.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat.com, Invesco presently has a consensus rating of “Hold” and a consensus price target of $23.63.

Invesco Stock Down 0.3%

IVZ stock opened at $24.45 on Friday. The stock has a market capitalization of $10.88 billion, a P/E ratio of 16.63, a PEG ratio of 0.85 and a beta of 1.72. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.30 and a current ratio of 1.30. Invesco Ltd. has a one year low of $11.60 and a one year high of $24.79. The company has a 50 day moving average price of $23.37 and a two-hundred day moving average price of $20.16.

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

Invesco Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 2nd. Shareholders of record on Friday, November 14th will be issued a $0.21 dividend. The ex-dividend date is Friday, November 14th. This represents a $0.84 annualized dividend and a yield of 3.4%. Invesco’s payout ratio is 57.14%.

Insider Transactions at Invesco

In related news, Director Stephanie Butcher sold 103,192 shares of the company’s stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $22.12, for a total transaction of $2,282,607.04. Following the completion of the transaction, the director owned 29,855 shares of the company’s stock, valued at approximately $660,392.60. This represents a 77.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Douglas J. Sharp sold 160,000 shares of the stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $23.56, for a total transaction of $3,769,600.00. Following the transaction, the director directly owned 192 shares in the company, valued at approximately $4,523.52. This represents a 99.88% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 1.21% of the company’s stock.

About Invesco

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.