QRG Capital Management Inc. Buys 111,716 Shares of Invesco Ltd. $IVZ

QRG Capital Management Inc. grew its stake in Invesco Ltd. (NYSE:IVZ) by 87.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 239,193 shares of the asset manager’s stock after buying an additional 111,716 shares during the period. QRG Capital Management Inc. owned approximately 0.05% of Invesco worth $3,772,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in IVZ. Jump Financial LLC lifted its holdings in Invesco by 30.2% in the 1st quarter. Jump Financial LLC now owns 231,218 shares of the asset manager’s stock worth $3,508,000 after purchasing an additional 53,608 shares during the last quarter. New York State Teachers Retirement System lifted its stake in shares of Invesco by 8.5% in the first quarter. New York State Teachers Retirement System now owns 405,269 shares of the asset manager’s stock worth $6,148,000 after buying an additional 31,643 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of 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 buying an additional 894,105 shares during the period. Nisa Investment Advisors LLC boosted its holdings in shares of 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 buying an additional 40,665 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. grew its stake in Invesco by 24.0% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 19,488 shares of the asset manager’s stock valued at $296,000 after buying an additional 3,778 shares during the last quarter. Institutional investors and hedge funds own 66.09% of the company’s stock.

Insiders Place Their Bets

In related news, Director Stephanie Butcher sold 103,192 shares of the stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $22.12, for a total value of $2,282,607.04. Following the completion of the transaction, the director owned 29,855 shares of the company’s stock, valued at $660,392.60. This represents a 77.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.21% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on IVZ shares. Evercore ISI restated a “positive” rating on shares of Invesco in a report on Friday, September 5th. BMO Capital Markets started coverage on Invesco in a research note on Friday. They set an “outperform” rating and a $28.00 target price for the company. Barclays raised their target price on Invesco from $17.00 to $22.00 and gave the company an “equal weight” rating in a report on Wednesday, July 23rd. Cowen reiterated a “buy” rating on shares of Invesco in a report on Thursday, September 18th. Finally, TD Cowen raised Invesco from a “hold” rating to a “buy” rating and increased their price objective for the company from $17.50 to $25.00 in a research report on Monday, July 21st. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $21.58.

Invesco Price Performance

Shares of NYSE:IVZ opened at $24.12 on Tuesday. Invesco Ltd. has a 1-year low of $11.60 and a 1-year high of $24.54. The firm has a market capitalization of $10.76 billion, a PE ratio of 25.94, a PEG ratio of 1.20 and a beta of 1.66. The business’s 50 day moving average is $21.89 and its 200-day moving average is $17.57. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.88.

Invesco (NYSE:IVZ) last issued its earnings results on Tuesday, July 22nd. The asset manager reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.05). Invesco had a net margin of 10.68% and a return on equity of 8.60%. The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same quarter in the previous year, the company posted $0.43 earnings per share. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. Sell-side analysts predict that Invesco Ltd. will post 1.87 earnings per share for the current year.

Invesco Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Thursday, August 14th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 3.5%. The ex-dividend date was 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.