Claro Advisors LLC Takes Position in Invesco Ltd. (NYSE:IVZ)
by Michael Walen · The Markets DailyClaro Advisors LLC acquired a new position in shares of Invesco Ltd. (NYSE:IVZ – Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 16,136 shares of the asset manager’s stock, valued at approximately $283,000.
Several other hedge funds have also added to or reduced their stakes in the business. Dimensional Fund Advisors LP lifted its position in Invesco by 22.7% during the second quarter. Dimensional Fund Advisors LP now owns 18,084,231 shares of the asset manager’s stock worth $270,540,000 after acquiring an additional 3,349,069 shares during the last quarter. Swedbank AB acquired a new position in Invesco during the first quarter valued at approximately $41,475,000. Bank of New York Mellon Corp raised its position in Invesco by 1.2% during the second quarter. Bank of New York Mellon Corp now owns 2,489,388 shares of the asset manager’s stock valued at $37,241,000 after purchasing an additional 30,016 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of Invesco by 19.0% during the second quarter. AQR Capital Management LLC now owns 2,364,232 shares of the asset manager’s stock worth $35,274,000 after buying an additional 377,786 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Invesco by 4.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,497,405 shares of the asset manager’s stock worth $24,843,000 after buying an additional 58,332 shares during the last quarter. Institutional investors and hedge funds own 66.09% of the company’s stock.
Invesco Price Performance
IVZ stock opened at $17.47 on Tuesday. The firm has a market cap of $7.85 billion, a price-to-earnings ratio of -18.99, a PEG ratio of 1.02 and a beta of 1.44. The company has a quick ratio of 4.91, a current ratio of 4.91 and a debt-to-equity ratio of 0.66. Invesco Ltd. has a 12-month low of $13.53 and a 12-month high of $18.94. The company’s fifty day simple moving average is $17.52 and its 200 day simple moving average is $16.44.
Invesco (NYSE:IVZ – Get Free Report) last announced its quarterly earnings data on Tuesday, October 22nd. The asset manager reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.01. Invesco had a negative net margin of 3.00% and a positive return on equity of 8.83%. The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same quarter in the prior year, the business earned $0.35 earnings per share. The business’s quarterly revenue was down 20.8% compared to the same quarter last year. On average, analysts expect that Invesco Ltd. will post 1.69 earnings per share for the current year.
Invesco Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Thursday, November 14th will be issued a $0.205 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.69%. Invesco’s dividend payout ratio is presently -89.13%.
Wall Street Analyst Weigh In
A number of analysts have weighed in on the stock. The Goldman Sachs Group boosted their target price on shares of Invesco from $17.50 to $19.50 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. UBS Group boosted their price objective on shares of Invesco from $17.50 to $19.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Royal Bank of Canada boosted their price objective on shares of Invesco from $18.00 to $19.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 23rd. Wells Fargo & Company boosted their price objective on shares of Invesco from $16.50 to $17.50 and gave the stock an “underweight” rating in a research note on Wednesday, October 23rd. Finally, Barclays boosted their price objective on shares of Invesco from $18.00 to $19.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $18.63.
Check Out Our Latest Research Report on Invesco
Invesco 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.
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