Jolley Asset Management LLC boosted its position in shares of Invesco Ltd. (NYSE:IVZ) by 2.9% during the 1st quarter, Holdings Channel reports. The firm owned 233,494 shares of the asset manager’s stock after purchasing an additional 6,569 shares during the period. Invesco makes up about 3.3% of Jolley Asset Management LLC’s holdings, making the stock its 16th biggest holding. Jolley Asset Management LLC’s holdings in Invesco were worth $4,509,000 as of its most recent filing with the SEC.
Other hedge funds have also recently made changes to their positions in the company. CSat Investment Advisory L.P. grew its position in Invesco by 141.2% during the 4th quarter. CSat Investment Advisory L.P. now owns 2,103 shares of the asset manager’s stock valued at $35,000 after purchasing an additional 1,231 shares during the last quarter. Rational Advisors LLC boosted its holdings in shares of Invesco by 411.3% during the 4th quarter. Rational Advisors LLC now owns 2,536 shares of the asset manager’s stock valued at $42,000 after acquiring an additional 2,040 shares during the last quarter. Oakworth Capital Inc. boosted its holdings in shares of Invesco by 30.3% during the 4th quarter. Oakworth Capital Inc. now owns 2,882 shares of the asset manager’s stock valued at $48,000 after acquiring an additional 670 shares during the last quarter. Semmax Financial Advisors Inc. purchased a new stake in shares of Invesco during the 4th quarter valued at about $52,000. Finally, Resources Investment Advisors Inc. purchased a new stake in shares of Invesco during the 4th quarter valued at about $53,000. 81.56% of the stock is currently owned by institutional investors.
In related news, major shareholder Ltd. Invesco acquired 425,531 shares of Invesco stock in a transaction dated Friday, February 8th. The shares were purchased at an average price of $2.64 per share, for a total transaction of $1,123,401.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Rod Canion acquired 20,000 shares of Invesco stock in a transaction dated Thursday, February 21st. The shares were bought at an average price of $18.89 per share, for a total transaction of $377,800.00. Following the transaction, the director now owns 84,451 shares of the company’s stock, valued at $1,595,279.39. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 455,531 shares of company stock worth $1,680,902. Company insiders own 1.90% of the company’s stock.
Invesco (NYSE:IVZ) last released its earnings results on Wednesday, January 30th. The asset manager reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.10). Invesco had a return on equity of 10.96% and a net margin of 16.61%. The firm had revenue of $919.20 million for the quarter, compared to the consensus estimate of $913.37 million. During the same quarter in the previous year, the business posted $0.73 EPS. Invesco’s revenue was down 8.5% on a year-over-year basis. Sell-side analysts forecast that Invesco Ltd. will post 2.28 EPS for the current year.
A number of analysts have recently issued reports on IVZ shares. Credit Suisse Group dropped their price target on shares of Invesco from $27.00 to $21.00 and set a “neutral” rating on the stock in a report on Monday, January 14th. Zacks Investment Research raised shares of Invesco from a “hold” rating to a “buy” rating and set a $23.00 price target on the stock in a report on Wednesday, April 10th. Morgan Stanley set a $19.00 price target on shares of Invesco and gave the company a “hold” rating in a report on Friday, February 8th. Deutsche Bank cut shares of Invesco from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $25.00 to $18.00 in a research note on Thursday, January 10th. Finally, Citigroup lowered their price objective on shares of Invesco from $23.00 to $18.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 19th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $22.20.
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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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