Wrapmanager Inc. Sells 56 Shares of Invesco PLC (IVZ)
Wrapmanager Inc. cut its position in shares of Invesco PLC (NYSE:IVZ) by 0.6% during the second quarter, Holdings Channel reports. The fund owned 9,837 shares of the asset manager’s stock after selling 56 shares during the period. Wrapmanager Inc.’s holdings in Invesco PLC were worth $346,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of IVZ. Conning Inc. raised its stake in Invesco PLC by 26.3% in the second quarter. Conning Inc. now owns 13,966 shares of the asset manager’s stock worth $491,000 after buying an additional 2,906 shares during the last quarter. United Asset Strategies Inc. increased its position in shares of Invesco PLC by 31.3% in the second quarter. United Asset Strategies Inc. now owns 48,665 shares of the asset manager’s stock valued at $1,713,000 after buying an additional 11,597 shares during the period. Advisors Asset Management Inc. increased its position in shares of Invesco PLC by 2.8% in the second quarter. Advisors Asset Management Inc. now owns 468,899 shares of the asset manager’s stock valued at $16,501,000 after buying an additional 12,988 shares during the period. Convergence Investment Partners LLC increased its position in shares of Invesco PLC by 3.3% in the second quarter. Convergence Investment Partners LLC now owns 52,916 shares of the asset manager’s stock valued at $1,862,000 after buying an additional 1,684 shares during the period. Finally, 440 Investment Group LLC increased its position in shares of Invesco PLC by 2.0% in the second quarter. 440 Investment Group LLC now owns 21,550 shares of the asset manager’s stock valued at $758,000 after buying an additional 430 shares during the period. 79.20% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Invesco PLC (NYSE IVZ) opened at 34.00 on Tuesday. The company has a 50-day moving average price of $35.30 and a 200 day moving average price of $32.80. The firm has a market capitalization of $13.83 billion, a P/E ratio of 15.16 and a beta of 1.80. Invesco PLC has a one year low of $27.46 and a one year high of $36.83.
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 analysts’ consensus estimates of $0.61 by $0.03. The business had revenue of $906.30 million for the quarter, compared to the consensus estimate of $891.19 million. Invesco PLC had a net margin of 18.98% and a return on equity of 12.74%. Invesco PLC’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.56 EPS. Analysts expect that Invesco PLC will post $2.54 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Thursday, August 17th will be issued a dividend of $0.29 per share. The ex-dividend date of this dividend is Tuesday, August 15th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.41%. Invesco PLC’s dividend payout ratio is currently 52.02%.
WARNING: This piece was originally reported by Watch List News and is owned by of Watch List News. If you are reading this piece on another domain, it was illegally copied and reposted in violation of U.S. and international copyright & trademark law. The correct version of this piece can be viewed at https://www.watchlistnews.com/wrapmanager-inc-sells-56-shares-of-invesco-plc-ivz/1490534.html.
Several brokerages have weighed in on IVZ. Zacks Investment Research downgraded Invesco PLC from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. BidaskClub downgraded Invesco PLC from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Jefferies Group LLC reiterated a “buy” rating and issued a $41.00 price target on shares of Invesco PLC in a report on Sunday, July 30th. Wells Fargo & Company reiterated an “outperform” rating on shares of Invesco PLC in a report on Sunday, July 30th. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $39.00 price target on shares of Invesco PLC in a report on Sunday, July 30th. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus 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.
Want to see what other hedge funds are holding IVZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Invesco PLC (NYSE:IVZ).
Receive News & Ratings for Invesco PLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Invesco PLC and related companies with Analyst Ratings Network's FREE daily email newsletter.