Gabelli Funds LLC Boosts Stock Holdings in Invesco Ltd. (NYSE:IVZ)

Posted by Defense World Staff on Jun 11th, 2023

Gabelli Funds LLC raised its holdings in shares of Invesco Ltd. (NYSE:IVZ – Get Rating) by 2.6% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 155,000 shares of the asset manager’s stock after purchasing an additional 4,000 shares during the period. Gabelli Funds LLC’s holdings in Invesco were worth $2,788,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in IVZ. State Street Corp increased its position in Invesco by 58.2% during the 3rd quarter. State Street Corp now owns 25,414,143 shares of the asset manager’s stock valued at $348,174,000 after purchasing an additional 9,345,810 shares during the period. Trian Fund Management L.P. increased its position in Invesco by 18.8% during the 1st quarter. Trian Fund Management L.P. now owns 54,034,034 shares of the asset manager’s stock valued at $1,404,885,000 after purchasing an additional 8,560,175 shares during the period. Vanguard Group Inc. increased its position in Invesco by 14.0% during the 1st quarter. Vanguard Group Inc. now owns 52,105,335 shares of the asset manager’s stock valued at $1,201,550,000 after purchasing an additional 6,384,917 shares during the period. BlackRock Inc. increased its position in Invesco by 9.2% during the 3rd quarter. BlackRock Inc. now owns 43,430,862 shares of the asset manager’s stock valued at $595,002,000 after purchasing an additional 3,642,905 shares during the period. Finally, Goldman Sachs Group Inc. increased its position in Invesco by 65.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,356,139 shares of the asset manager’s stock valued at $54,332,000 after purchasing an additional 935,205 shares during the period. Hedge funds and other institutional investors own 69.42% of the company’s stock.

Invesco Stock Up 0.4 %

NYSE:IVZ opened at $16.14 on Friday. The company has a market cap of $7.39 billion, a PE ratio of 11.70, a P/E/G ratio of 1.35 and a beta of 1.35. Invesco Ltd. has a twelve month low of $13.20 and a twelve month high of $20.56. The company has a current ratio of 4.88, a quick ratio of 4.88 and a debt-to-equity ratio of 0.69. The company’s 50 day moving average is $15.96 and its two-hundred day moving average is $17.37.

Invesco (NYSE:IVZ – Get Rating) last announced its quarterly earnings data on Tuesday, April 25th. The asset manager reported $0.38 EPS for the quarter, beating the consensus estimate of $0.36 by $0.02. Invesco had a net margin of 14.87% and a return on equity of 7.86%. The business had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same period in the previous year, the business posted $0.56 EPS. The business’s quarterly revenue was down 13.0% compared to the same quarter last year. Analysts anticipate that Invesco Ltd. will post 1.66 EPS for the current year.

Invesco Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 2nd. Shareholders of record on Tuesday, May 9th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 4.96%. This is a boost from Invesco’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Monday, May 8th. Invesco’s payout ratio is presently 57.97%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on IVZ shares. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Invesco from $15.00 to $16.00 in a research report on Wednesday, April 26th. StockNews.com raised shares of Invesco from a “sell” rating to a “hold” rating in a research report on Tuesday, May 16th. Citigroup started coverage on shares of Invesco in a research report on Thursday, May 18th. They issued a “neutral” rating and a $16.00 price objective on the stock. The Goldman Sachs Group lifted their price objective on shares of Invesco from $18.00 to $18.50 and gave the stock a “neutral” rating in a research report on Friday, April 14th. Finally, TheStreet downgraded shares of Invesco from a “b-” rating to a “c+” rating in a research report on Tuesday, May 30th. Ten equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $17.55.

Invesco Profile

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Invesco Ltd. engages in the investment management business. Its product includes mutual funds, unit trusts, exchange-traded funds, closed-end funds, and retirement plans. The company was founded in December 1935 and is headquartered in Atlanta, GA.