Invesco Ltd. (NYSE:IVZ) Position Boosted by AE Wealth Management LLCby Danessa Lincoln
AE Wealth Management LLC increased its holdings in Invesco Ltd. (NYSE:IVZ) by 17.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,084 shares of the asset manager’s stock after buying an additional 3,696 shares during the quarter. AE Wealth Management LLC’s holdings in Invesco were worth $228,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of IVZ. Marshall Wace LLP bought a new position in Invesco in the 1st quarter worth approximately $396,000. Janney Montgomery Scott LLC grew its holdings in Invesco by 46.6% in the 4th quarter. Janney Montgomery Scott LLC now owns 46,018 shares of the asset manager’s stock worth $827,000 after buying an additional 14,619 shares in the last quarter. SeaCrest Wealth Management LLC bought a new position in Invesco in the 4th quarter worth approximately $184,000. Strs Ohio grew its holdings in Invesco by 19.3% in the 4th quarter. Strs Ohio now owns 256,401 shares of the asset manager’s stock worth $4,610,000 after buying an additional 41,401 shares in the last quarter. Finally, New York State Teachers Retirement System lifted its position in Invesco by 0.5% in the fourth quarter. New York State Teachers Retirement System now owns 417,070 shares of the asset manager’s stock worth $7,499,000 after purchasing an additional 2,092 shares during the period. 65.33% of the stock is owned by institutional investors and hedge funds.
A number of research firms have weighed in on IVZ. Royal Bank of Canada cut their target price on Invesco from $10.00 to $9.00 and set a “sector perform” rating for the company in a research report on Friday, April 24th. ValuEngine downgraded Invesco from a “sell” rating to a “strong sell” rating in a research report on Thursday, April 2nd. Zacks Investment Research downgraded Invesco from a “hold” rating to a “sell” rating and set a $8.00 target price for the company. in a research report on Monday, April 6th. Deutsche Bank cut their target price on Invesco from $12.00 to $11.00 and set a “buy” rating for the company in a research report on Friday, May 15th. Finally, Credit Suisse Group upped their target price on Invesco from $7.00 to $8.00 and gave the stock a “neutral” rating in a research report on Friday, April 24th. Five investment analysts have rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $11.05.
In other Invesco news, Director C Robert Henrikson bought 12,660 shares of Invesco stock in a transaction dated Friday, May 1st. The stock was bought at an average price of $7.93 per share, for a total transaction of $100,393.80. Following the completion of the acquisition, the director now directly owns 55,334 shares of the company’s stock, valued at $438,798.62. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.89% of the stock is owned by corporate insiders.
IVZ opened at $7.27 on Monday. The stock has a fifty day moving average of $8.24 and a 200-day moving average of $14.25. The firm has a market capitalization of $3.34 billion, a P/E ratio of 3.12, a PEG ratio of 0.84 and a beta of 1.48. Invesco Ltd. has a 12-month low of $6.38 and a 12-month high of $21.09. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 0.88.
Invesco (NYSE:IVZ) last released its earnings results on Thursday, April 23rd. The asset manager reported $0.34 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.52 by ($0.18). The business had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.17 billion. Invesco had a net margin of 8.12% and a return on equity of 11.04%. Invesco’s revenue for the quarter was up 29.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.56 EPS. On average, analysts expect that Invesco Ltd. will post 1.46 earnings per share for the current fiscal year.
Invesco Company Profile
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.
Further Reading: What is required to own or exchange cryptocurrency?