Invesco Ltd. (NYSE:IVZ) Shares Sold by Retirement Systems of Alabama

Posted by on Jul 29th, 2023

Retirement Systems of Alabama lowered its holdings in Invesco Ltd. (NYSE:IVZ – Free Report) by 7.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 134,425 shares of the asset manager’s stock after selling 11,277 shares during the period. Retirement Systems of Alabama’s holdings in Invesco were worth $2,205,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Van ECK Associates Corp grew its stake in shares of Invesco by 5.6% in the 4th quarter. Van ECK Associates Corp now owns 10,094 shares of the asset manager’s stock worth $182,000 after purchasing an additional 537 shares during the last quarter. Dorsey & Whitney Trust CO LLC grew its stake in shares of Invesco by 4.3% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 14,862 shares of the asset manager’s stock worth $267,000 after purchasing an additional 618 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Invesco by 3.1% in the 1st quarter. Assenagon Asset Management S.A. now owns 20,529 shares of the asset manager’s stock worth $337,000 after purchasing an additional 624 shares during the last quarter. Fifth Third Bancorp grew its stake in shares of Invesco by 5.9% in the 1st quarter. Fifth Third Bancorp now owns 13,827 shares of the asset manager’s stock worth $227,000 after purchasing an additional 767 shares during the last quarter. Finally, Vident Investment Advisory LLC grew its stake in shares of Invesco by 4.5% in the 4th quarter. Vident Investment Advisory LLC now owns 18,261 shares of the asset manager’s stock worth $329,000 after purchasing an additional 780 shares during the last quarter. Institutional investors and hedge funds own 65.99% of the company’s stock.

Invesco Stock Performance

IVZ stock opened at $16.60 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 4.88 and a current ratio of 25.97. The stock has a market cap of $7.61 billion, a P/E ratio of 11.45, a P/E/G ratio of 1.89 and a beta of 1.38. The firm has a 50 day simple moving average of $16.43 and a 200 day simple moving average of $16.98. Invesco Ltd. has a 52 week low of $13.20 and a 52 week high of $20.56.

Invesco (NYSE:IVZ – Get Free Report) last posted its quarterly earnings results on Tuesday, July 25th. The asset manager reported $0.31 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.09). The company had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.11 billion. Invesco had a return on equity of 6.84% and a net margin of 15.29%. The business’s revenue for the quarter was down 7.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.39 earnings per share. Research analysts anticipate that Invesco Ltd. will post 1.61 earnings per share for the current fiscal year.

Invesco Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 5th. Shareholders of record on Friday, August 11th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 4.82%. The ex-dividend date is Thursday, August 10th. Invesco’s dividend payout ratio (DPR) is presently 56.74%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Citigroup lifted their target price on shares of Invesco from $16.00 to $19.00 and gave the stock a “neutral” rating in a research report on Friday, July 14th. StockNews.com downgraded shares of Invesco from a “hold” rating to a “sell” rating in a research report on Wednesday. The Goldman Sachs Group lifted their target price 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. BMO Capital Markets assumed coverage on shares of Invesco in a research report on Monday, July 10th. They issued a “market perform” rating and a $21.00 target price on the stock. Finally, Royal Bank of Canada lifted their target price on shares of Invesco from $17.00 to $19.00 in a research report on Friday, July 21st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $18.45.

Invesco Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Invesco (NYSE:IVZ)

Receive News & Ratings for Invesco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Invesco and related companies with MarketBeat.com's FREE daily email newsletter.