Quinn Opportunity Partners LLC Purchases New Position in Invesco Ltd. $IVZ

Quinn Opportunity Partners LLC acquired a new position in Invesco Ltd. (NYSE:IVZ) in the 2nd quarter, Holdings Channel reports. The firm acquired 70,100 shares of the asset manager’s stock, valued at approximately $1,105,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. IFP Advisors Inc raised its position in shares of Invesco by 55.7% in the 2nd quarter. IFP Advisors Inc now owns 2,127 shares of the asset manager’s stock worth $34,000 after acquiring an additional 761 shares in the last quarter. Forum Financial Management LP grew its stake in Invesco by 4.8% in the second quarter. Forum Financial Management LP now owns 17,327 shares of the asset manager’s stock worth $273,000 after purchasing an additional 791 shares during the period. EP Wealth Advisors LLC grew its stake in Invesco by 6.8% in the first quarter. EP Wealth Advisors LLC now owns 12,477 shares of the asset manager’s stock worth $189,000 after purchasing an additional 792 shares during the period. Brooklyn Investment Group raised its holdings in Invesco by 17.1% in the first quarter. Brooklyn Investment Group now owns 5,465 shares of the asset manager’s stock worth $83,000 after purchasing an additional 800 shares in the last quarter. Finally, UMB Bank n.a. lifted its position in Invesco by 45.8% during the second quarter. UMB Bank n.a. now owns 2,623 shares of the asset manager’s stock valued at $41,000 after buying an additional 824 shares during the period. Hedge funds and other institutional investors own 66.09% of the company’s stock.

Insider Buying and Selling at Invesco

In other Invesco news, Director Douglas J. Sharp sold 160,000 shares of the stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $23.56, for a total value of $3,769,600.00. Following the transaction, the director owned 192 shares of the company’s stock, valued at approximately $4,523.52. This represents a 99.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Stephanie Butcher sold 103,192 shares of the firm’s stock in a transaction dated Wednesday, September 10th. The stock was 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 directly owned 29,855 shares in the company, valued at $660,392.60. The trade was a 77.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.21% of the stock is owned by corporate insiders.

Invesco Price Performance

IVZ opened at $24.65 on Thursday. The company’s 50-day simple moving average is $23.05 and its two-hundred day simple moving average is $19.39. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.30 and a current ratio of 1.30. The stock has a market capitalization of $10.99 billion, a P/E ratio of 16.77, a P/E/G ratio of 0.85 and a beta of 1.72. Invesco Ltd. has a 52-week low of $11.60 and a 52-week high of $24.75.

Invesco (NYSE:IVZ) last released its quarterly earnings data on Tuesday, October 28th. The asset manager reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.17. The firm had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.17 billion. Invesco had a net margin of 14.15% and a return on equity of 8.52%. The firm’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.44 earnings per share. As a group, analysts predict that Invesco Ltd. will post 1.87 EPS for the current year.

Invesco Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 2nd. Shareholders of record on Friday, November 14th will be paid a dividend of $0.21 per share. The ex-dividend date is Friday, November 14th. This represents a $0.84 dividend on an annualized basis and a yield of 3.4%. Invesco’s payout ratio is currently 57.14%.

Analyst Upgrades and Downgrades

IVZ has been the subject of several recent research reports. Evercore ISI lifted their target price on shares of Invesco from $24.00 to $26.00 and gave the company an “in-line” rating in a report on Thursday, October 9th. Citigroup raised their price target on Invesco from $22.00 to $25.00 and gave the company a “neutral” rating in a report on Monday, September 29th. Wall Street Zen raised Invesco from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. TD Cowen raised shares of 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. Finally, The Goldman Sachs Group raised their price objective on shares of Invesco from $25.50 to $26.50 and gave the company a “neutral” rating in a research note on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $23.70.

Invesco 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.