Invesco Ltd. (NYSE:IVZ) Shares Purchased by Bank of Nova Scotia

Bank of Nova Scotia lifted its stake in Invesco Ltd. (NYSE:IVZ) by 25.6% during the 1st quarter, HoldingsChannel.com reports. The fund owned 490,827 shares of the asset manager’s stock after purchasing an additional 100,151 shares during the quarter. Bank of Nova Scotia’s holdings in Invesco were worth $7,446,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in IVZ. JPMorgan Chase & Co. grew its stake in Invesco by 17.1% during the 4th quarter. JPMorgan Chase & Co. now owns 1,285,609 shares of the asset manager’s stock worth $22,472,000 after purchasing an additional 188,041 shares in the last quarter. New York State Teachers Retirement System grew its stake in Invesco by 8.5% during the 1st quarter. New York State Teachers Retirement System now owns 405,269 shares of the asset manager’s stock worth $6,148,000 after purchasing an additional 31,643 shares in the last quarter. Principal Financial Group Inc. grew its stake in Invesco by 177.3% during the 1st quarter. Principal Financial Group Inc. now owns 1,398,364 shares of the asset manager’s stock worth $21,213,000 after purchasing an additional 894,105 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in Invesco by 24.0% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 19,488 shares of the asset manager’s stock worth $296,000 after purchasing an additional 3,778 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its stake in Invesco by 25.7% during the 1st quarter. Nisa Investment Advisors LLC now owns 199,155 shares of the asset manager’s stock worth $3,021,000 after purchasing an additional 40,665 shares in the last quarter. 66.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

IVZ has been the subject of several analyst reports. Morgan Stanley boosted their target price on Invesco from $15.00 to $16.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 2nd. Barclays boosted their price target on shares of Invesco from $17.00 to $22.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 23rd. JPMorgan Chase & Co. lowered their price target on shares of Invesco from $19.00 to $16.00 and set a “neutral” rating for the company in a report on Wednesday, April 16th. Wells Fargo & Company upgraded shares of Invesco from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $14.50 to $18.00 in a report on Friday, July 11th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and set a $16.00 price target (up previously from $14.00) on shares of Invesco in a report on Thursday, July 10th. Fourteen analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Invesco currently has an average rating of “Hold” and a consensus price target of $18.78.

Invesco Stock Up 1.9%

Shares of Invesco stock opened at $21.01 on Tuesday. The company has a quick ratio of 1.37, a current ratio of 0.59 and a debt-to-equity ratio of 0.67. The firm has a market cap of $9.40 billion, a P/E ratio of 22.59, a P/E/G ratio of 1.12 and a beta of 1.55. Invesco Ltd. has a fifty-two week low of $11.60 and a fifty-two week high of $21.85. The business has a 50-day moving average price of $16.87 and a 200 day moving average price of $16.11.

Invesco (NYSE:IVZ) last announced its quarterly earnings data on Tuesday, July 22nd. The asset manager reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.05). Invesco had a net margin of 10.68% and a return on equity of 7.97%. The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the prior year, the firm earned $0.43 earnings per share. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. On average, sell-side analysts forecast that Invesco Ltd. will post 1.87 earnings per share for the current fiscal year.

Invesco Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Thursday, August 14th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend is Thursday, August 14th. Invesco’s payout ratio is 90.32%.

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.