Jefferies Financial Group Inc. Sells 744,998 Shares of Invesco Ltd. $IVZ

Jefferies Financial Group Inc. cut its position in Invesco Ltd. (NYSE:IVZ) by 78.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 206,451 shares of the asset manager’s stock after selling 744,998 shares during the quarter. Jefferies Financial Group Inc.’s holdings in Invesco were worth $3,256,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Jump Financial LLC grew its stake in shares of Invesco by 30.2% in the first quarter. Jump Financial LLC now owns 231,218 shares of the asset manager’s stock valued at $3,508,000 after acquiring an additional 53,608 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Invesco by 0.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,452,945 shares of the asset manager’s stock worth $67,551,000 after purchasing an additional 29,613 shares in the last quarter. Wellington Management Group LLP bought a new stake in Invesco in the 1st quarter valued at about $418,000. ABC Arbitrage SA bought a new stake in Invesco in the 1st quarter valued at about $513,000. Finally, Envestnet Portfolio Solutions Inc. acquired a new position in shares of Invesco during the 2nd quarter worth approximately $197,000. 66.09% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Barclays raised their target price on shares of Invesco from $24.00 to $25.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 29th. Morgan Stanley reaffirmed a “positive” rating on shares of Invesco in a report on Monday, October 6th. Zacks Research upgraded Invesco from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 6th. Bank of America increased their target price on Invesco from $23.00 to $25.00 and gave the stock a “neutral” rating in a report on Thursday, October 2nd. Finally, The Goldman Sachs Group decreased their price target on Invesco from $26.50 to $25.50 and set a “neutral” rating on the stock in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $23.63.

Insider Transactions at Invesco

In other news, Director Stephanie Butcher sold 103,192 shares of the firm’s stock in a transaction that occurred on 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 sale, the director directly owned 29,855 shares in the company, valued at approximately $660,392.60. This trade represents a 77.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Douglas J. Sharp sold 160,000 shares of Invesco stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $23.56, for a total transaction of $3,769,600.00. Following the sale, the director directly owned 192 shares in the company, valued at $4,523.52. This trade represents a 99.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.21% of the stock is currently owned by corporate insiders.

Invesco Trading Up 1.7%

Shares of IVZ stock opened at $24.23 on Wednesday. Invesco Ltd. has a fifty-two week low of $11.60 and a fifty-two week high of $24.75. The stock’s fifty day moving average price is $23.24 and its two-hundred day moving average price is $20.00. 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 company has a market cap of $10.78 billion, a PE ratio of 16.48, a P/E/G ratio of 0.85 and a beta of 1.72.

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

Invesco Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 2nd. Stockholders of record on Friday, November 14th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Friday, November 14th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.5%. Invesco’s dividend payout ratio is 57.14%.

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.