State of New Jersey Common Pension Fund D Increases Holdings in Invesco Ltd. $IVZ

State of New Jersey Common Pension Fund D lifted its position in Invesco Ltd. (NYSE:IVZ) by 17.7% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 129,180 shares of the asset manager’s stock after purchasing an additional 19,389 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Invesco were worth $2,037,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of IVZ. GAMMA Investing LLC lifted its holdings in Invesco by 19.6% during the first quarter. GAMMA Investing LLC now owns 22,616 shares of the asset manager’s stock worth $343,000 after buying an additional 3,714 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Invesco by 15.9% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 56,861 shares of the asset manager’s stock worth $864,000 after buying an additional 7,796 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its holdings in Invesco by 24.0% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 19,488 shares of the asset manager’s stock worth $296,000 after buying an additional 3,778 shares during the period. New York State Teachers Retirement System lifted its holdings in Invesco by 8.5% during 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 period. Finally, Vontobel Holding Ltd. lifted its holdings in Invesco by 8.7% during the first quarter. Vontobel Holding Ltd. now owns 347,316 shares of the asset manager’s stock worth $5,269,000 after buying an additional 27,666 shares during the period. Hedge funds and other institutional investors own 66.09% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on IVZ shares. TD Cowen upgraded Invesco from a “hold” rating to a “buy” rating and upped their target price for the stock from $17.50 to $25.00 in a report on Monday, July 21st. BMO Capital Markets restated an “outperform” rating on shares of Invesco in a report on Friday, October 24th. The Goldman Sachs Group increased their price objective on Invesco from $25.50 to $26.50 and gave the company a “neutral” rating in a report on Wednesday. Wells Fargo & Company upgraded Invesco from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $14.50 to $18.00 in a report on Friday, July 11th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and set a $16.00 price objective (up previously from $14.00) on shares of Invesco in a report on Thursday, July 10th. Five equities research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $22.57.

Invesco Price Performance

NYSE IVZ opened at $24.06 on Thursday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.30 and a quick ratio of 1.30. The stock’s fifty day moving average price is $22.66 and its 200 day moving average price is $18.66. Invesco Ltd. has a 1 year low of $11.60 and a 1 year high of $24.75. The company has a market cap of $10.73 billion, a price-to-earnings ratio of 16.37, a PEG ratio of 0.86 and a beta of 1.66.

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

Invesco Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 2nd. Shareholders of record on Friday, November 14th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend is Friday, November 14th. Invesco’s dividend payout ratio (DPR) is currently 90.32%.

Insiders Place Their Bets

In other Invesco news, Director Stephanie Butcher sold 103,192 shares of the stock in a transaction dated 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 sale, the director directly owned 29,855 shares of the company’s stock, valued at approximately $660,392.60. This trade represents a 77.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.21% of the company’s stock.

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.