Convergence Investment Partners LLC raised its position in Invesco PLC (NYSE:IVZ) by 3.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 52,916 shares of the asset manager’s stock after buying an additional 1,684 shares during the period. Convergence Investment Partners LLC’s holdings in Invesco PLC were worth $1,862,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of the company. Nisa Investment Advisors LLC raised its stake in shares of Invesco PLC by 18.8% in the first quarter. Nisa Investment Advisors LLC now owns 188,876 shares of the asset manager’s stock worth $5,785,000 after buying an additional 29,900 shares during the last quarter. DnB Asset Management AS raised its stake in shares of Invesco PLC by 15.9% in the first quarter. DnB Asset Management AS now owns 51,684 shares of the asset manager’s stock worth $1,583,000 after buying an additional 7,100 shares during the last quarter. Jolley Asset Management LLC acquired a new stake in shares of Invesco PLC during the first quarter worth about $429,000. Donald L. Hagan LLC raised its stake in shares of Invesco PLC by 2.0% in the first quarter. Donald L. Hagan LLC now owns 28,626 shares of the asset manager’s stock worth $877,000 after buying an additional 558 shares during the last quarter. Finally, Washington Trust Bank raised its stake in shares of Invesco PLC by 4.8% in the first quarter. Washington Trust Bank now owns 81,027 shares of the asset manager’s stock worth $2,482,000 after buying an additional 3,717 shares during the last quarter. Institutional investors and hedge funds own 79.20% of the company’s stock.
Invesco PLC (IVZ) opened at 33.99 on Monday. Invesco PLC has a one year low of $27.46 and a one year high of $36.83. The company has a 50 day moving average of $35.33 and a 200-day moving average of $32.75. The company has a market cap of $13.83 billion, a P/E ratio of 15.15 and a beta of 1.80.
Invesco PLC (NYSE:IVZ) last posted its quarterly earnings results on Thursday, July 27th. The asset manager reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.03. The firm had revenue of $906.30 million for the quarter, compared to analyst estimates of $891.19 million. Invesco PLC had a net margin of 18.98% and a return on equity of 12.74%. Invesco PLC’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.56 earnings per share. On average, equities 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. Investors of record on Thursday, August 17th will be given a dividend of $0.29 per share. The ex-dividend date is Tuesday, August 15th. This represents a $1.16 dividend on an annualized basis and a yield of 3.41%. Invesco PLC’s payout ratio is presently 52.02%.
A number of brokerages have issued reports on IVZ. Morgan Stanley reiterated an “overweight” rating and issued a $38.00 price target (up previously from $36.00) on shares of Invesco PLC in a research note on Monday, July 10th. Jefferies Group LLC increased their price objective on shares of Invesco PLC from $35.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday, July 4th. Zacks Investment Research raised shares of Invesco PLC from a “hold” rating to a “buy” rating and set a $39.00 price objective for the company in a report on Tuesday, July 4th. Keefe, Bruyette & Woods reissued a “buy” rating and set a $36.00 price objective on shares of Invesco PLC in a report on Sunday, July 2nd. Finally, Royal Bank Of Canada began coverage on shares of Invesco PLC in a report on Thursday, June 29th. They set an “outperform” rating and a $41.00 price objective for the company. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $37.29.
About Invesco PLC
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.
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