Veritable L.P. Has $422,000 Stake in Invesco PLC (IVZ)
Veritable L.P. increased its stake in shares of Invesco PLC (NYSE:IVZ) by 1.9% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 11,997 shares of the asset manager’s stock after acquiring an additional 219 shares during the period. Veritable L.P.’s holdings in Invesco PLC were worth $422,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of IVZ. Financial Architects Inc lifted its holdings in Invesco PLC by 54.3% in the 2nd quarter. Financial Architects Inc now owns 3,073 shares of the asset manager’s stock worth $109,000 after purchasing an additional 1,082 shares during the last quarter. Global X Management Co. LLC boosted its position in Invesco PLC by 29.4% during the first quarter. Global X Management Co. LLC now owns 5,582 shares of the asset manager’s stock worth $171,000 after purchasing an additional 1,267 shares during the period. Gilbert & Cook Inc. acquired a new position in Invesco PLC during the second quarter valued at approximately $203,000. Cornerstone Investment Partners LLC acquired a new position in Invesco PLC during the second quarter valued at approximately $206,000. Finally, IBM Retirement Fund acquired a new position in Invesco PLC during the second quarter valued at approximately $210,000. 79.79% of the stock is currently owned by institutional investors and hedge funds.
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Shares of Invesco PLC (IVZ) opened at 35.53 on Tuesday. The stock’s 50 day moving average price is $33.18 and its 200 day moving average price is $33.17. Invesco PLC has a one year low of $27.46 and a one year high of $36.84. The firm has a market cap of $14.46 billion, a price-to-earnings ratio of 15.84 and a beta of 1.80.
Invesco PLC (NYSE:IVZ) last released its quarterly earnings results on Thursday, July 27th. The asset manager reported $0.64 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.03. The firm had revenue of $906.30 million for the quarter, compared to analysts’ expectations of $891.19 million. Invesco PLC had a net margin of 18.98% and a return on equity of 12.74%. The business’s revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.56 EPS. On average, equities analysts anticipate that Invesco PLC will post $2.54 earnings per share for the current fiscal year.
Several analysts recently issued reports on the stock. Jefferies Group LLC upped their price objective on shares of Invesco PLC from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, July 4th. BidaskClub downgraded shares of Invesco PLC from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Wells Fargo & Company reiterated an “outperform” rating on shares of Invesco PLC in a report on Sunday, July 30th. ValuEngine raised shares of Invesco PLC from a “hold” rating to a “buy” rating in a research report on Monday. Finally, Morgan Stanley reissued an “overweight” rating and set a $38.00 target price (up previously from $36.00) on shares of Invesco PLC in a research report on Monday, July 10th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $37.46.
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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