Invesco Ltd. (NYSE:IVZ) Major shareholder acquires $13,307,647.20 in shares

Invesco Ltd. (NYSE:IVZ – Get Rating), major shareholder Mm Asset Management Holding Ll, acquired 827,590 shares of Invesco in a transaction on Monday, June 13. The shares were acquired at an average price of $16.08 per share, with a total value of $13,307,647.20. Following the purchase, the insider now directly owns 80,504,729 shares of the company, valued at $1,294,516,042.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. Major shareholders who own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

NYSE IVZ rose $0.18 during trading hours on Wednesday, hitting $16.42. The company had a trading volume of 4,523,677 shares, compared to an average volume of 4,729,076. has a 52-week low of $15.82 and a 52-week high of $28.89. The company has a 50-day simple moving average of $19.23 and a 200-day simple moving average of $21.31. The company has a debt ratio of 0.77, a quick ratio of 4.21 and a current ratio of 4.21. The company has a market capitalization of $7.47 billion, a price/earnings ratio of 5.87, a PEG ratio of 1.17 and a beta of 1.25.

Invesco (NYSE:IVZ – Get Rating) last released its quarterly results on Tuesday, April 26. The asset manager reported earnings per share of $0.56 for the quarter, missing the consensus estimate of $0.61 per ($0.05). Invesco had a net margin of 22.72% and a return on equity of 13.70%. The company posted revenue of $1.63 billion in the quarter, versus $1.28 billion expected by analysts. During the same period of the previous year, the company achieved EPS of $0.68. The company’s revenue was down 1.9% year over year. On average, research analysts expect Invesco Ltd. will post earnings per share of 2.47 for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, June 2. Shareholders of record on Tuesday, May 10 received a dividend of $0.188. The ex-dividend date was Monday, May 9. This represents an annualized dividend of $0.75 and a dividend yield of 4.58%. This is a boost from Invesco’s previous quarterly dividend of $0.17. Invesco’s dividend payout ratio (DPR) is currently 26.32%.

IVZ has been the subject of several research reports. BMO Capital Markets downgraded Invesco from an ‘outperforming’ rating to a ‘market performing’ rating and lowered its price target for the stock from $25.00 to $20.00 in a research note on Monday . Keefe, Bruyette & Woods downgraded Invesco from an “outperforming” rating to a “market performing” rating and set a price target of $25.00 for the company. in a research note from Tuesday, April 12. Goldman Sachs Group raised its price target on Invesco from $23.00 to $24.50 and gave the stock a “neutral” rating in a Thursday, March 31 research note. Morgan Stanley cut its price target on Invesco from $26.00 to $25.00 and set an “equal weight” rating for the company in a Monday, April 25 research note. Finally, Citigroup cut its price target on Invesco from $26.00 to $22.50 in a Wednesday, April 27 research note. One equity research analyst gave the stock a sell rating, five gave the stock a hold rating and three gave the stock a buy rating. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $24.40.

Major investors have recently increased or reduced their stakes in the company. Trian Fund Management LP increased its stake in Invesco by 18.8% in the 1st quarter. Trian Fund Management LP now owns 54,034,034 shares of the asset manager worth $1,404,885,000 after purchasing an additional 8,560,175 shares during the period. Vanguard Group Inc. increased its position in Invesco shares by 14.0% in the first quarter. Vanguard Group Inc. now owns 52,105,335 shares of the asset manager worth $1,201,550,000 after buying an additional 6,384,917 shares in the last quarter. BlackRock Inc. increased its position in Invesco shares by 6.4% in the first quarter. BlackRock Inc. now owns 37,980,845 shares of the asset manager worth $875,838,000 after purchasing an additional 2,297,862 shares in the last quarter. State Street Corp increased its position in Invesco shares by 1.5% in the fourth quarter. State Street Corp now owns 17,085,466 shares of the asset manager worth $393,307,000 after buying an additional 255,634 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Invesco shares by 0.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 8,935,376 shares of the asset manager worth $206,060,000 after purchasing an additional 58,590 shares in the last quarter. 67.53% of the shares are currently held by hedge funds and other institutional investors.

About Investco (Get a rating)

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

Further reading

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

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