Cullinan Associates Inc. lifted its stake in shares of Invesco Ltd. (NYSE:IVZ) by 4.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 161,000 shares of the asset manager’s stock after purchasing an additional 7,190 shares during the period. Cullinan Associates Inc.’s holdings in Invesco were worth $5,883,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of the stock. Schwab Charles Investment Management Inc. increased its holdings in shares of Invesco by 5.6% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 1,468,838 shares of the asset manager’s stock worth $53,672,000 after acquiring an additional 77,263 shares during the last quarter. Coastline Trust Co acquired a new position in shares of Invesco during the 4th quarter worth approximately $1,053,000. Creative Planning increased its holdings in shares of Invesco by 4.9% during the 4th quarter. Creative Planning now owns 40,413 shares of the asset manager’s stock worth $1,477,000 after acquiring an additional 1,893 shares during the last quarter. Kessler Investment Group LLC acquired a new position in shares of Invesco during the 4th quarter worth approximately $1,132,000. Finally, Washington Trust Bank increased its holdings in shares of Invesco by 6.3% during the 4th quarter. Washington Trust Bank now owns 187,744 shares of the asset manager’s stock worth $6,860,000 after acquiring an additional 11,052 shares during the last quarter. 81.31% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts recently weighed in on the company. JPMorgan Chase & Co. set a $45.00 target price on Invesco and gave the stock a “buy” rating in a report on Monday, January 8th. Zacks Investment Research lowered Invesco from a “buy” rating to a “hold” rating in a report on Monday, January 8th. ValuEngine raised Invesco from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Keefe, Bruyette & Woods reissued a “buy” rating and set a $39.00 target price on shares of Invesco in a report on Tuesday, October 3rd. Finally, Bank of America lowered Invesco from a “buy” rating to a “neutral” rating and set a $42.00 target price on the stock. in a report on Monday, January 8th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $39.79.
Shares of Invesco Ltd. (NYSE:IVZ) traded up $0.88 during midday trading on Wednesday, reaching $38.08. The company’s stock had a trading volume of 3,258,274 shares, compared to its average volume of 3,108,527. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.75. Invesco Ltd. has a 52-week low of $28.75 and a 52-week high of $38.42. The firm has a market cap of $15,500.00, a price-to-earnings ratio of 16.48, a price-to-earnings-growth ratio of 1.03 and a beta of 1.80.
Invesco (NYSE:IVZ) last issued its quarterly earnings data on Thursday, October 26th. The asset manager reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.05. The firm had revenue of $976.60 million for the quarter, compared to analyst estimates of $940.96 million. Invesco had a return on equity of 13.02% and a net margin of 18.99%. The company’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.60 EPS. research analysts expect that Invesco Ltd. will post 2.67 EPS for the current year.
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Invesco Company Profile
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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