iA Global Asset Management Inc. Decreases Stock Holdings in Invesco Ltd. $IVZ

iA Global Asset Management Inc. lowered its stake in shares of Invesco Ltd. (NYSE:IVZ) by 81.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,321 shares of the asset manager’s stock after selling 14,902 shares during the period. iA Global Asset Management Inc.’s holdings in Invesco were worth $52,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of IVZ. Teacher Retirement System of Texas purchased a new stake in shares of Invesco in the first quarter valued at about $843,000. Principal Financial Group Inc. increased its position in Invesco by 177.3% during the first 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 during the last quarter. D.A. Davidson & CO. increased its position in Invesco by 1.6% during the first quarter. D.A. Davidson & CO. now owns 47,462 shares of the asset manager’s stock worth $720,000 after purchasing an additional 755 shares during the last quarter. Stratos Wealth Partners LTD. raised its stake in shares of Invesco by 24.8% in the 1st quarter. Stratos Wealth Partners LTD. now owns 44,956 shares of the asset manager’s stock valued at $682,000 after acquiring an additional 8,922 shares during the period. Finally, Nisa Investment Advisors LLC raised its stake in shares of Invesco by 25.7% in the 1st quarter. Nisa Investment Advisors LLC now owns 199,155 shares of the asset manager’s stock valued at $3,021,000 after acquiring an additional 40,665 shares during the period. Hedge funds and other institutional investors own 66.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on IVZ shares. TD Cowen raised shares of Invesco from a “hold” rating to a “buy” rating and raised their target price for the company from $17.50 to $25.00 in a research note on Monday, July 21st. Morgan Stanley reissued a “positive” rating on shares of Invesco in a report on Monday, October 6th. Barclays raised their price target on shares of Invesco from $24.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 29th. Weiss Ratings restated a “hold (c)” rating on shares of Invesco in a research report on Wednesday, October 8th. Finally, Wells Fargo & Company upgraded shares of Invesco from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $14.50 to $18.00 in a research report on Friday, July 11th. Five investment analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $23.41.

Insider Activity at Invesco

In other news, Director Stephanie Butcher sold 103,192 shares of Invesco 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 transaction, the director directly owned 29,855 shares of the company’s stock, valued at $660,392.60. This trade represents a 77.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Douglas J. Sharp sold 160,000 shares of Invesco stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $23.56, for a total transaction of $3,769,600.00. Following the completion of the transaction, the director directly owned 192 shares in the company, valued at approximately $4,523.52. This trade represents a 99.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.21% of the company’s stock.

Invesco Stock Down 1.6%

IVZ stock opened at $23.21 on Wednesday. The firm’s 50-day moving average is $22.83 and its two-hundred day moving average is $19.00. The company has a market capitalization of $10.35 billion, a price-to-earnings ratio of 15.79, a price-to-earnings-growth ratio of 0.85 and a beta of 1.66. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.67. Invesco Ltd. has a 52 week low of $11.60 and a 52 week high of $24.75.

Invesco (NYSE:IVZ) last announced its quarterly earnings data on Tuesday, October 28th. The asset manager reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.17. The company had revenue of $1.19 billion for 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 business’s revenue was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.44 EPS. On average, analysts forecast that Invesco Ltd. will post 1.87 earnings per share for the current fiscal year.

Invesco Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 2nd. Stockholders of record on Friday, November 14th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend is Friday, November 14th. Invesco’s dividend payout ratio (DPR) 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.