Guggenheim Capital LLC Sells 115,978 Shares of Invesco Ltd. (NYSE:IVZ)

Posted by on Sep 1st, 2023

Guggenheim Capital LLC lowered its holdings in shares of Invesco Ltd. (NYSE:IVZ – Free Report) by 52.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 104,136 shares of the asset manager’s stock after selling 115,978 shares during the period. Guggenheim Capital LLC’s holdings in Invesco were worth $1,708,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of IVZ. OLD Mission Capital LLC bought a new stake in Invesco during the fourth quarter worth about $26,000. Money Concepts Capital Corp lifted its stake in shares of Invesco by 150.1% in the fourth quarter. Money Concepts Capital Corp now owns 1,688 shares of the asset manager’s stock worth $30,000 after buying an additional 1,013 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Invesco by 125.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,844 shares of the asset manager’s stock worth $33,000 after buying an additional 1,027 shares in the last quarter. Machina Capital S.A.S. bought a new position in shares of Invesco in the first quarter worth approximately $43,000. Finally, TCI Wealth Advisors Inc. lifted its stake in shares of Invesco by 19.4% in the first quarter. TCI Wealth Advisors Inc. now owns 4,002 shares of the asset manager’s stock worth $66,000 after buying an additional 649 shares in the last quarter. Institutional investors own 66.27% of the company’s stock.

Invesco Stock Up 1.2 %

Shares of IVZ stock opened at $15.92 on Friday. Invesco Ltd. has a 12 month low of $13.20 and a 12 month high of $20.56. The stock has a market cap of $7.14 billion, a P/E ratio of 11.29, a P/E/G ratio of 1.35 and a beta of 1.38. The company has a current ratio of 5.15, a quick ratio of 5.15 and a debt-to-equity ratio of 0.71. The company has a 50 day simple moving average of $16.57 and a two-hundred day simple moving average of $16.45.

Invesco (NYSE:IVZ – Get Free Report) last announced its earnings results on Tuesday, July 25th. The asset manager reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.09). Invesco had a net margin of 15.29% and a return on equity of 7.54%. The business had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.11 billion. During the same period in the prior year, the company posted $0.39 earnings per share. The firm’s quarterly revenue was down 7.1% on a year-over-year basis. On average, research analysts expect that Invesco Ltd. will post 1.53 earnings per share for the current year.

Invesco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 5th. Stockholders of record on Friday, August 11th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Thursday, August 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 5.03%. Invesco’s dividend payout ratio (DPR) is presently 56.74%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on IVZ shares. BMO Capital Markets started coverage on shares of Invesco in a research note on Monday, July 10th. They issued a “market perform” rating and a $21.00 target price on the stock. Morgan Stanley reiterated an “equal weight” rating and issued a $17.00 target price on shares of Invesco in a research note on Tuesday, July 25th. TheStreet downgraded shares of Invesco from a “b-” rating to a “c+” rating in a research note on Tuesday, May 30th. Citigroup boosted their price objective on shares of Invesco from $16.00 to $19.00 and gave the company a “neutral” rating in a report on Friday, July 14th. Finally, Royal Bank of Canada boosted their price objective on shares of Invesco from $17.00 to $19.00 in a report on Friday, July 21st. One analyst has rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $18.45.

Read Our Latest Research Report on Invesco

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.

See Also

Institutional Ownership by Quarter for Invesco (NYSE:IVZ)

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