Invesco Ltd. (NYSE:IVZ – Get Rating) saw a significant drop in short interest in February. As of February 15th, there was short interest totalling 6,060,000 shares, a drop of 16.2% from the January 31st total of 7,230,000 shares. Approximately 1.3% of the company’s shares are short sold. Based on an average trading volume of 4,550,000 shares, the short-interest ratio is currently 1.3 days.
IVZ has been the subject of a number of analyst reports. The Goldman Sachs Group decreased their price objective on shares of Invesco from $27.00 to $26.00 and set a “neutral” rating for the company in a research report on Tuesday, January 4th. Evercore ISI dropped their price objective on shares of Invesco from $28.00 to $25.00 and set an “inline” rating for the company in a research note on Wednesday, January 26th. BMO Capital Markets dropped their price target on shares of Invesco from $33.00 to $29.00 and set an “outperform” rating for the company in a research note on Wednesday, January 26th. Citigroup dropped their price target on shares of Invesco from $33.00 to $32.00 and set a “buy” rating for the company in a research note on Wednesday, January 26th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Invesco from $37.00 to $32.00 and set a “buy” rating for the company in a research report on Friday, February 18th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $28.82.
In other news, CEO Martin L. Flanagan sold 189,708 shares of Invesco stock in a transaction that occurred on Tuesday, March 1st. The shares were sold at an average price of $19.51, for a total transaction of $3,701,203.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.87% of the company’s stock.
Large investors have recently made changes to their positions in the business. Trian Fund Management L.P. boosted its stake in shares of Invesco by 23.7% during the 4th quarter. Trian Fund Management L.P. now owns 45,473,859 shares of the asset manager’s stock valued at $1,182,320,000 after buying an additional 8,718,084 shares during the period. Massachusetts Financial Services Co. MA boosted its position in Invesco by 129.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 6,286,925 shares of the asset manager’s stock valued at $151,577,000 after buying an additional 3,546,547 shares in the last quarter. Two Sigma Advisers LP boosted its position in Invesco by 647.6% in the third quarter. Two Sigma Advisers LP now owns 2,014,000 shares of the asset manager’s stock valued at $48,558,000 after buying an additional 1,744,600 shares in the last quarter. Millennium Management LLC boosted its position in Invesco by 96.8% in the fourth quarter. Millennium Management LLC now owns 2,945,207 shares of the asset manager’s stock valued at $67,799,000 after buying an additional 1,448,814 shares in the last quarter. Finally, Clark Capital Management Group Inc. acquired a new position in shares of Invesco during the third quarter worth approximately $33,091,000. Institutional investors own 63.62% of the company’s stock.
IVZ traded up $0.48 during trading on Tuesday, hitting $19.12. 120,697 shares of the company’s stock were exchanged, compared to its average volume of 5,238,045. The company has a current ratio of 3.79, a quick ratio of 3.79 and a debt-to-equity ratio of 0.77. Invesco has a 1 year low of $18.42 and a 1 year high of $29.71. The stock has a 50 day moving average price of $22.62 and a 200 day moving average price of $23.87. The firm has a market cap of $8.81 billion, a P/E ratio of 6.21, a price-to-earnings-growth ratio of 0.43 and a beta of 1.18.
Invesco (NYSE:IVZ – Get Rating) last released its quarterly earnings data on Tuesday, January 25th. The asset manager reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.10. The company had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. Invesco had a net margin of 23.64% and a return on equity of 14.48%. Invesco’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.72 earnings per share. Analysts forecast that Invesco will post 3.1 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, March 2nd. Shareholders of record on Wednesday, February 16th were paid a $0.17 dividend. The ex-dividend date was Tuesday, February 15th. This represents a $0.68 annualized dividend and a dividend yield of 3.56%. Invesco’s payout ratio is currently 22.67%.
About Invesco
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.
