Invesco Ltd. $IVZ Stock Position Lowered by Beacon Investment Advisory Services Inc.

Beacon Investment Advisory Services Inc. lessened its position in Invesco Ltd. (NYSE:IVZ) by 6.0% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 15,123 shares of the asset manager’s stock after selling 964 shares during the period. Beacon Investment Advisory Services Inc.’s holdings in Invesco were worth $238,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of IVZ. Goldman Sachs Group Inc. raised its stake in shares of Invesco by 99.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 7,026,920 shares of the asset manager’s stock worth $106,598,000 after buying an additional 3,507,150 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Invesco by 35.4% in the 1st quarter. AQR Capital Management LLC now owns 11,028,524 shares of the asset manager’s stock worth $165,262,000 after buying an additional 2,882,928 shares in the last quarter. Nuveen LLC bought a new stake in shares of Invesco in the 1st quarter worth $29,138,000. Jefferies Financial Group Inc. bought a new stake in shares of Invesco in the 1st quarter worth $14,433,000. Finally, Principal Financial Group Inc. raised its stake in shares of Invesco by 177.3% in 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 in the last quarter. Institutional investors own 66.09% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on IVZ. Cowen restated a “buy” rating on shares of Invesco in a report on Thursday, September 18th. The Goldman Sachs Group lifted their target price on Invesco from $16.25 to $16.75 and gave the stock a “neutral” rating in a report on Friday, June 27th. Royal Bank Of Canada restated a “sector perform” rating and issued a $16.00 target price (up from $14.00) on shares of Invesco in a report on Thursday, July 10th. Zacks Research upgraded Invesco to a “hold” rating in a report on Tuesday, August 12th. Finally, TD Cowen upgraded Invesco from a “hold” rating to a “buy” rating and lifted their target price for the stock from $17.50 to $25.00 in a report on Monday, July 21st. Four investment analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $19.38.

Insider Transactions at Invesco

In related news, Director Stephanie Butcher sold 103,192 shares of Invesco stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $22.12, for a total transaction of $2,282,607.04. Following the completion of the sale, the director owned 29,855 shares of the company’s stock, valued at approximately $660,392.60. This trade represents a 77.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.21% of the company’s stock.

Invesco Stock Performance

Shares of IVZ stock opened at $22.36 on Friday. Invesco Ltd. has a 1-year low of $11.60 and a 1-year high of $22.99. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.88. The company has a market capitalization of $9.97 billion, a price-to-earnings ratio of 24.04, a P/E/G ratio of 1.25 and a beta of 1.58. The stock’s fifty day simple moving average is $21.57 and its 200-day simple moving average is $17.15.

Invesco (NYSE:IVZ) last issued its quarterly earnings results on Tuesday, July 22nd. The asset manager reported $0.36 earnings per share 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 business had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter in the prior year, the firm posted $0.43 EPS. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. On average, sell-side analysts predict that Invesco Ltd. will post 1.87 earnings per share for the current fiscal year.

Invesco Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Thursday, August 14th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $0.84 dividend on an annualized basis and a yield of 3.8%. Invesco’s dividend payout ratio (DPR) is presently 90.32%.

About Invesco

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.