Invesco Ltd. $IVZ Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its position in Invesco Ltd. (NYSE:IVZ) by 11.9% in the second quarter, HoldingsChannel reports. The institutional investor owned 2,197,251 shares of the asset manager’s stock after selling 295,466 shares during the period. Bank of New York Mellon Corp’s holdings in Invesco were worth $34,651,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Goldman Sachs Group Inc. increased its holdings in Invesco by 99.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 7,026,920 shares of the asset manager’s stock valued at $106,598,000 after acquiring an additional 3,507,150 shares in the last quarter. AQR Capital Management LLC grew its position in shares of Invesco by 35.4% in the first quarter. AQR Capital Management LLC now owns 11,028,524 shares of the asset manager’s stock valued at $165,262,000 after purchasing an additional 2,882,928 shares during the last quarter. Nuveen LLC purchased a new position in shares of Invesco during the 1st quarter worth approximately $29,138,000. Jefferies Financial Group Inc. acquired a new position in shares of Invesco during the 1st quarter worth approximately $14,433,000. Finally, Northern Trust Corp lifted its stake in Invesco by 11.3% in the 1st quarter. Northern Trust Corp now owns 7,083,410 shares of the asset manager’s stock valued at $107,455,000 after buying an additional 721,947 shares in the last quarter. Institutional investors and hedge funds own 66.09% of the company’s stock.

Invesco Trading Down 2.8%

NYSE IVZ opened at $23.97 on Friday. The company has a market cap of $10.69 billion, a P/E ratio of 16.30, a P/E/G ratio of 0.85 and a beta of 1.72. Invesco Ltd. has a 12 month low of $11.60 and a 12 month high of $24.75. 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 company has a 50-day moving average of $23.09 and a 200-day moving average of $19.42.

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, topping the consensus estimate of $0.44 by $0.17. Invesco had a net margin of 14.15% and a return on equity of 8.52%. The business had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same period last year, the company earned $0.44 earnings per share. The company’s quarterly revenue was up 7.4% on a year-over-year basis. As a group, equities analysts predict that Invesco Ltd. will post 1.87 earnings per share for the current year.

Invesco Dividend Announcement

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

Insider Buying and Selling at Invesco

In other news, Director Douglas J. Sharp sold 160,000 shares of the company’s stock in a transaction 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 sale, the director directly owned 192 shares in the company, valued at $4,523.52. This represents a 99.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Stephanie Butcher sold 103,192 shares of the stock in a transaction on 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. This trade represents a 77.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.21% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on IVZ. Weiss Ratings reissued a “hold (c)” rating on shares of Invesco in a report on Wednesday, October 8th. Zacks Research raised shares of Invesco from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 6th. Cowen reaffirmed a “buy” rating on shares of Invesco in a research note on Thursday, September 18th. Wall Street Zen upgraded shares of Invesco from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Finally, Royal Bank Of Canada upped their price objective on shares of Invesco from $23.00 to $25.00 and gave the company a “sector perform” rating in a research note on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Invesco presently has a consensus rating of “Hold” and an average target price of $23.70.

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.