Royal Bank of Canada Trims Position in Invesco Ltd. $IVZ

Royal Bank of Canada trimmed its position in shares of Invesco Ltd. (NYSE:IVZ) by 9.4% during the 1st quarter, Holdings Channel reports. The firm owned 661,711 shares of the asset manager’s stock after selling 68,891 shares during the period. Royal Bank of Canada’s holdings in Invesco were worth $16,072,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Root Financial Partners LLC increased its stake in Invesco by 28.2% in the 4th quarter. Root Financial Partners LLC now owns 1,702 shares of the asset manager’s stock worth $45,000 after buying an additional 374 shares in the last quarter. ANB Bank lifted its position in shares of Invesco by 3.1% in the first quarter. ANB Bank now owns 12,324 shares of the asset manager’s stock valued at $299,000 after acquiring an additional 375 shares in the last quarter. Carrera Capital Advisors lifted its position in shares of Invesco by 3.7% in the fourth quarter. Carrera Capital Advisors now owns 11,467 shares of the asset manager’s stock valued at $301,000 after acquiring an additional 408 shares in the last quarter. Vise Technologies Inc. boosted its stake in shares of Invesco by 3.3% in the fourth quarter. Vise Technologies Inc. now owns 13,182 shares of the asset manager’s stock worth $346,000 after acquiring an additional 425 shares during the period. Finally, EWA LLC boosted its stake in shares of Invesco by 3.8% in the first quarter. EWA LLC now owns 12,490 shares of the asset manager’s stock worth $303,000 after acquiring an additional 452 shares during the period. Hedge funds and other institutional investors own 66.09% of the company’s stock.

Invesco Trading Down 0.9%

Shares of Invesco stock opened at $31.71 on Friday. Invesco Ltd. has a twelve month low of $20.41 and a twelve month high of $32.55. The company has a quick ratio of 1.45, a current ratio of 1.31 and a debt-to-equity ratio of 1.00. The business has a 50-day moving average price of $28.54 and a 200-day moving average price of $26.77. The firm has a market cap of $14.06 billion, a price-to-earnings ratio of -46.64, a PEG ratio of 0.51 and a beta of 1.62.

Invesco (NYSE:IVZ) last posted its earnings results on Tuesday, July 28th. The asset manager reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.04. Invesco had a positive return on equity of 12.83% and a negative net margin of 0.93%.The company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same period in the previous year, the business earned $0.36 earnings per share. The firm’s revenue for the quarter was up 20.5% on a year-over-year basis. Equities research analysts anticipate that Invesco Ltd. will post 2.8 EPS for the current fiscal year.

Invesco Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Friday, August 14th will be paid a $0.215 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $0.86 dividend on an annualized basis and a yield of 2.7%. Invesco’s payout ratio is presently -126.47%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on IVZ. BMO Capital Markets cut their target price on Invesco from $32.00 to $28.00 and set an “outperform” rating for the company in a research report on Friday, April 10th. Royal Bank Of Canada upped their price target on Invesco from $33.00 to $35.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 29th. Argus reaffirmed a “hold” rating on shares of Invesco in a report on Wednesday, April 29th. JPMorgan Chase & Co. increased their price objective on shares of Invesco from $29.00 to $29.50 and gave the company a “neutral” rating in a report on Wednesday, July 29th. Finally, TD Cowen lifted their price objective on shares of Invesco from $32.00 to $33.00 and gave the company a “buy” rating in a research report on Monday, June 8th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $29.88.

Invesco Company Profile

Invesco Ltd. is an independent global investment management firm headquartered in Atlanta, Georgia, and publicly traded on the New York Stock Exchange (NYSE: IVZ). With origins dating back to 1935, the company is dedicated to offering a wide array of investment strategies and solutions to both individual and institutional clients worldwide.

The firm’s product suite encompasses actively managed equity and fixed income funds, passive index funds, exchange-traded funds (ETFs), closed-end funds, and unit investment trusts, alongside specialized offerings such as private markets, real estate, and structured products.