Stoneridge Investment Partners LLC Has $357,000 Stake in Invesco PLC (NYSE:IVZ)
Stoneridge Investment Partners LLC continued to hold its position in shares of Invesco PLC (NYSE:IVZ) during the second quarter, Holdings Channel reports. The institutional investor owned 10,131 shares of the asset manager’s stock at the end of the second quarter. Stoneridge Investment Partners LLC’s holdings in Invesco PLC were worth $357,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Donald L. Hagan LLC boosted its position in shares of Invesco PLC by 2.0% in the first quarter. Donald L. Hagan LLC now owns 28,626 shares of the asset manager’s stock worth $877,000 after buying an additional 558 shares during the last quarter. Washington Trust Bank boosted its position in shares of Invesco PLC by 4.8% in the first quarter. Washington Trust Bank now owns 81,027 shares of the asset manager’s stock worth $2,482,000 after buying an additional 3,717 shares during the last quarter. Cullinan Associates Inc. boosted its position in shares of Invesco PLC by 2.4% in the first quarter. Cullinan Associates Inc. now owns 151,750 shares of the asset manager’s stock worth $4,648,000 after buying an additional 3,600 shares during the last quarter. CWM LLC boosted its position in shares of Invesco PLC by 1.8% in the first quarter. CWM LLC now owns 715,849 shares of the asset manager’s stock worth $21,926,000 after buying an additional 12,360 shares during the last quarter. Finally, Americafirst Capital Management LLC bought a new position in shares of Invesco PLC during the first quarter worth about $188,000. 79.80% of the stock is owned by institutional investors.
Shares of Invesco PLC (NYSE:IVZ) opened at 33.99 on Friday. The firm has a market capitalization of $13.83 billion, a price-to-earnings ratio of 15.15 and a beta of 1.80. The company has a 50-day moving average price of $35.33 and a 200-day moving average price of $32.75. Invesco PLC has a 12 month low of $27.46 and a 12 month high of $36.84.
Invesco PLC (NYSE:IVZ) last issued its earnings results on Thursday, July 27th. The asset manager reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.03. Invesco PLC had a return on equity of 12.74% and a net margin of 18.98%. The business had revenue of $906.30 million during the quarter, compared to analysts’ expectations of $891.19 million. During the same quarter in the prior year, the firm earned $0.56 EPS. The business’s revenue for the quarter was up 4.5% compared to the same quarter last year. Equities analysts forecast that Invesco PLC will post $2.54 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Thursday, August 17th will be issued a $0.29 dividend. The ex-dividend date of this dividend is Tuesday, August 15th. This represents a $1.16 dividend on an annualized basis and a yield of 3.41%. Invesco PLC’s payout ratio is presently 52.02%.
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A number of brokerages have issued reports on IVZ. Morgan Stanley reissued an “overweight” rating and set a $38.00 price objective (up from $36.00) on shares of Invesco PLC in a report on Monday, July 10th. Jefferies Group LLC lifted their price objective on Invesco PLC from $35.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday, July 4th. Zacks Investment Research raised Invesco PLC from a “hold” rating to a “buy” rating and set a $39.00 price objective for the company in a report on Tuesday, July 4th. Keefe, Bruyette & Woods reissued a “buy” rating and set a $36.00 price objective on shares of Invesco PLC in a report on Sunday, July 2nd. Finally, Royal Bank Of Canada began coverage on Invesco PLC in a report on Thursday, June 29th. They set an “outperform” rating and a $41.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. Invesco PLC currently has a consensus rating of “Buy” and an average target price of $37.29.
Invesco PLC Company Profile
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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