Insider buying: Invesco Ltd. (NYSE: IVZ) major shareholder acquires 720,080 shares

Invesco Ltd. (NYSE:IVZ- Get a rating) major shareholder Trian Fund Management, LP bought 720,080 shares of the company in a transaction that took place on Friday, March 25. The shares were acquired at an average cost of $22.01 per share, for a total transaction of $15,848,960.80. The transaction was disclosed in a legal filing with the SEC, available at this hyperlink. Large shareholders who own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Trian Fund Management, LP has also recently completed the following transaction(s):

  • On Wednesday, March 23, Trian Fund Management, LP purchased 1,026,508 shares of Invesco. The shares were acquired at an average price of $21.52 per share, for a total transaction of $22,090,452.16.

NYSE IVZ traded down $0.27 during Friday’s trading, hitting $22.10. The stock recorded a trading volume of 3,906,225 shares, compared to an average volume of 5,356,285 shares. The company has a debt ratio of 0.77, a quick ratio of 3.79 and a current ratio of 3.79. The stock has a market capitalization of $10.18 billion, a price/earnings ratio of 7.37, a P/E/G ratio of 0.51 and a beta of 1.18. Invesco Ltd. has a 1-year low of $18.42 and a 1-year high of $29.71. The stock has a 50-day simple moving average of $21.67 and a 200-day simple moving average of $23.46.

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Invesco (NYSE:IVZ- Get a rating) last released its results on Tuesday, January 25. The asset manager reported EPS of $0.86 for the quarter, beating the Zacks consensus estimate of $0.76 by $0.10. The company posted revenue of $1.37 billion for the quarter, compared to analysts’ estimates of $1.36 billion. Invesco had a net margin of 23.64% and a return on equity of 14.48%. The company’s quarterly revenue increased by 11.8% compared to the same quarter last year. During the same period last year, the company posted earnings per share of $0.72. On average, sell-side analysts expect Invesco Ltd. will post an EPS of 2.99 for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 2. Shareholders of record on Wednesday, February 16 received a dividend of $0.17 per share. This represents a dividend of $0.68 on an annualized basis and a dividend yield of 3.08%. The ex-dividend date was Tuesday, February 15. Invesco’s dividend payout ratio (DPR) is currently 22.67%.

Major investors have recently changed their stake in the company. Concord Wealth Partners increased its position in Invesco shares by 257.6% during the third quarter. Concord Wealth Partners now owns 1,112 shares of the asset manager worth $27,000 after acquiring an additional 801 shares during the period. MCF Advisors LLC increased its position in Invesco shares by 69.9% during the fourth quarter. MCF Advisors LLC now owns 1,252 shares of the asset manager worth $29,000 after acquiring an additional 515 shares during the period. McIlrath & Eck LLC increased its position in Invesco shares by 224.9% during the third quarter. McIlrath & Eck LLC now owns 1,280 shares of the asset manager worth $31,000 after acquiring an additional 886 shares during the period. Capital Analysts LLC increased its position in Invesco shares by 103.8% during the fourth quarter. Capital Analysts LLC now owns 1,339 shares of the asset manager worth $31,000 after acquiring an additional 682 shares during the period. Finally, Masso Torrence Wealth Management Inc. acquired a new position in Invesco during the fourth quarter valued at approximately $38,000. 63.62% of the shares are currently held by institutional investors and hedge funds.

A number of brokerages have recently commented on IVZ. BMO Capital Markets lowered its price target on Invesco shares from $33.00 to $29.00 and set an “outperform” rating for the company in a Wednesday, Jan. 26, report. Citigroup lowered its price target on Invesco shares from $33.00 to $32.00 and set a “buy” rating for the company in a Wednesday, Jan. 26, report. Bank of America lowered its price target on Invesco shares from $26.00 to $24.00 and set a “neutral” rating for the company in a Wednesday, Jan. 26, report. Morgan Stanley lowered its price target on Invesco shares from $29.00 to $27.00 and set an “equal weight” rating for the company in a Wednesday, Jan. 26, report. Finally, Royal Bank of Canada lowered its price target on Invesco shares from $26.00 to $23.00 in a Tuesday, January 25 report. Five analysts gave the stock a hold rating and four gave the stock a buy rating. According to data from MarketBeat.com, Invesco has a consensus rating of “Hold” and an average price target of $28.82.

About Investco (Get a rating)

Invesco Ltd. engages in investment management activities. Its product includes mutual funds, mutual funds, exchange-traded funds, closed-end funds and pension plans. The company was founded in December 1935 and is based in Atlanta, GA.

See also

Insider buying and selling by quarter for Invesco (NYSE:IVZ)

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