Washington Capital Management Inc. Reduces Holdings in Invesco PLC (IVZ)
Washington Capital Management Inc. decreased its holdings in Invesco PLC (NYSE:IVZ) by 32.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,000 shares of the asset manager’s stock after selling 4,800 shares during the period. Washington Capital Management Inc.’s holdings in Invesco were worth $350,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also bought and sold shares of the business. Vanguard Group Inc. grew its stake in shares of Invesco by 2.7% during the second quarter. Vanguard Group Inc. now owns 41,189,076 shares of the asset manager’s stock worth $1,449,444,000 after purchasing an additional 1,092,898 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Invesco by 6.3% during the third quarter. American Century Companies Inc. now owns 9,478,671 shares of the asset manager’s stock worth $332,133,000 after purchasing an additional 563,407 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Invesco by 1.0% during the third quarter. Bank of New York Mellon Corp now owns 9,374,021 shares of the asset manager’s stock worth $328,466,000 after purchasing an additional 88,330 shares in the last quarter. Kiltearn Partners LLP grew its stake in shares of Invesco by 38.5% during the second quarter. Kiltearn Partners LLP now owns 5,765,510 shares of the asset manager’s stock worth $202,888,000 after purchasing an additional 1,602,510 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its stake in shares of Invesco by 19.2% during the third quarter. Ameriprise Financial Inc. now owns 4,997,691 shares of the asset manager’s stock worth $175,007,000 after purchasing an additional 804,250 shares in the last quarter. Institutional investors and hedge funds own 81.84% of the company’s stock.
Several research firms have issued reports on IVZ. ValuEngine downgraded shares of Invesco from a “buy” rating to a “hold” rating in a research note on Tuesday, November 14th. Jefferies Group LLC upped their price objective on shares of Invesco from $41.00 to $42.00 and gave the company a “buy” rating in a research note on Friday, November 3rd. Royal Bank Of Canada restated a “buy” rating and issued a $41.00 price objective on shares of Invesco in a research note on Friday, October 27th. Citigroup Inc. upped their price objective on shares of Invesco from $43.00 to $44.00 and gave the company a “buy” rating in a research note on Friday, October 27th. Finally, Zacks Investment Research downgraded shares of Invesco from a “buy” rating to a “hold” rating in a research note on Thursday, October 12th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $38.50.
In other news, insider Colin Meadows sold 54,215 shares of the company’s stock in a transaction dated 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 completion of the sale, the insider now directly owns 164,420 shares of the company’s stock, valued at $5,920,764.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.80% of the stock is currently owned by corporate insiders.
Shares of Invesco PLC (NYSE:IVZ) opened at $35.09 on Friday. Invesco PLC has a 1-year low of $28.75 and a 1-year high of $37.75. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.75. The company has a market cap of $14,284.37, a PE ratio of 13.76, a PEG ratio of 1.11 and a beta of 1.81.
Invesco (NYSE:IVZ) last announced its earnings results on Thursday, October 26th. The asset manager reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.05. Invesco had a net margin of 18.99% and a return on equity of 13.02%. The business had revenue of $976.60 million during the quarter, compared to analysts’ expectations of $940.96 million. During the same period in the prior year, the company earned $0.60 earnings per share. The business’s revenue was up 14.3% compared to the same quarter last year. sell-side analysts anticipate that Invesco PLC will post 2.66 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 4th. Stockholders of record on Tuesday, November 14th will be issued a $0.29 dividend. The ex-dividend date is Monday, November 13th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.31%. Invesco’s payout ratio is 50.44%.
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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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