Zions Bancorporation National Association UT Has $64,000 Position in Invesco Ltd. $IVZ

Zions Bancorporation National Association UT grew its stake in Invesco Ltd. (NYSE:IVZ) by 6,217.2% in the second quarter, HoldingsChannel.com reports. The fund owned 4,043 shares of the asset manager’s stock after acquiring an additional 3,979 shares during the period. Zions Bancorporation National Association UT’s holdings in Invesco were worth $64,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Federated Hermes Inc. increased its stake in Invesco by 186.6% in the first quarter. Federated Hermes Inc. now owns 1,969 shares of the asset manager’s stock valued at $30,000 after purchasing an additional 1,282 shares in the last quarter. IFP Advisors Inc raised its stake in Invesco by 55.7% during the 2nd quarter. IFP Advisors Inc now owns 2,127 shares of the asset manager’s stock worth $34,000 after buying an additional 761 shares during the period. SVB Wealth LLC bought a new position in Invesco during the first quarter worth about $32,000. UMB Bank n.a. lifted its holdings in Invesco by 45.8% during the second quarter. UMB Bank n.a. now owns 2,623 shares of the asset manager’s stock worth $41,000 after acquiring an additional 824 shares in the last quarter. Finally, Summit Securities Group LLC acquired a new position in Invesco in the first quarter valued at about $41,000. Institutional investors own 66.09% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on IVZ. Barclays lifted their price objective on Invesco from $24.00 to $25.00 and gave the company an “equal weight” rating in a report on Wednesday, October 29th. The Goldman Sachs Group lifted their price target on shares of Invesco from $25.50 to $26.50 and gave the company a “neutral” rating in a research note on Wednesday, October 29th. Citigroup upped their price target on shares of Invesco from $22.00 to $25.00 and gave the company a “neutral” rating in a report on Monday, September 29th. Zacks Research upgraded shares of Invesco from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 6th. Finally, Bank of America boosted their price objective on shares of Invesco from $23.00 to $25.00 and gave the company a “neutral” rating in a research report on Thursday, October 2nd. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat.com, Invesco currently has an average rating of “Hold” and an average price target of $23.70.

Insider Activity at Invesco

In related news, Director Douglas J. Sharp sold 160,000 shares of the stock in a transaction on Friday, October 31st. The stock was sold at an average price of $23.56, for a total value of $3,769,600.00. Following the sale, the director owned 192 shares in the company, valued at approximately $4,523.52. This represents a 99.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Stephanie Butcher sold 103,192 shares of the firm’s stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $22.12, for a total value of $2,282,607.04. Following the sale, the director directly owned 29,855 shares of the company’s stock, valued at $660,392.60. This represents a 77.56% decrease in their position. The SEC filing for this sale provides additional information. 1.21% of the stock is owned by corporate insiders.

Invesco Stock Up 1.0%

IVZ stock opened at $23.88 on Wednesday. The company has a market cap of $10.65 billion, a price-to-earnings ratio of 16.24, a P/E/G ratio of 0.85 and a beta of 1.72. Invesco Ltd. has a twelve month low of $11.60 and a twelve month high of $24.75. The business has a 50 day moving average price of $22.99 and a two-hundred day moving average price of $19.35. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.67.

Invesco (NYSE:IVZ) last posted its quarterly earnings results on Tuesday, October 28th. The asset manager reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.17. Invesco had a net margin of 14.15% and a return on equity of 8.52%. The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same period in the prior year, the firm posted $0.44 earnings per share. The company’s quarterly revenue was up 7.4% compared to the same quarter last year. Analysts anticipate that Invesco Ltd. will post 1.87 EPS for the current fiscal year.

Invesco Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 2nd. Shareholders of record on Friday, November 14th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend is Friday, November 14th. Invesco’s payout ratio is 57.14%.

Invesco Company Profile

Invesco Ltd. is a publicly owned investment manager. The firm provides its services to retail clients, institutional clients, high-net worth clients, public entities, corporations, unions, non-profit organizations, endowments, foundations, pension funds, financial institutions, and sovereign wealth funds.