Sen. Gary C. Peters Sells Off Shares of Invesco Ltd. (NYSE:IVZ)

Senator Gary C. Peters (D-Michigan) recently sold shares of Invesco Ltd. (NYSE:IVZ). In a filing disclosed on November 14th, the Senator disclosed that they had sold between $1,001 and $15,000 in Invesco stock on October 17th.

Senator Gary C. Peters also recently made the following trade(s):

• Sold $1,001 – $15,000 in shares of Lamb Weston (NYSE:LW) on 10/31/2024.
• Sold $1,001 – $15,000 in shares of Leggett & Platt (NYSE:LEG) on 10/31/2024.

Invesco Trading Down 0.4 %

NYSE IVZ opened at $17.67 on Friday. The firm has a market capitalization of $7.94 billion, a PE ratio of -19.21, a price-to-earnings-growth ratio of 1.02 and a beta of 1.44. Invesco Ltd. has a one year low of $13.53 and a one year high of $18.94. The company has a 50-day simple moving average of $17.48 and a 200-day simple moving average of $16.40. The company has a debt-to-equity ratio of 0.66, a quick ratio of 4.91 and a current ratio of 4.91.

Invesco (NYSE:IVZ) last issued its earnings results on Tuesday, October 22nd. The asset manager reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.11 billion. Invesco had a positive return on equity of 8.83% and a negative net margin of 3.00%. Invesco’s quarterly revenue was down 20.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.35 earnings per share. On average, equities analysts forecast that Invesco Ltd. will post 1.69 earnings per share for the current year.

Invesco Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Thursday, November 14th will be given a $0.205 dividend. The ex-dividend date is Thursday, November 14th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.64%. Invesco’s payout ratio is currently -89.13%.

Analyst Ratings Changes

IVZ has been the subject of several recent research reports. JPMorgan Chase & Co. upped their price target on shares of Invesco from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Monday, October 21st. The Goldman Sachs Group increased their price target on Invesco from $17.50 to $19.50 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Morgan Stanley lifted their price objective on shares of Invesco from $16.00 to $17.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Wells Fargo & Company increased their target price on shares of Invesco from $16.50 to $17.50 and gave the company an “underweight” rating in a research report on Wednesday, October 23rd. Finally, Royal Bank of Canada raised their target price on shares of Invesco from $18.00 to $19.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $18.63.

Institutional Investors Weigh In On Invesco

Large investors have recently modified their holdings of the stock. State Board of Administration of Florida Retirement System lifted its holdings in shares of Invesco by 10.4% during the first quarter. State Board of Administration of Florida Retirement System now owns 470,626 shares of the asset manager’s stock valued at $7,718,000 after purchasing an additional 44,417 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Invesco by 4.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,497,405 shares of the asset manager’s stock valued at $24,843,000 after buying an additional 58,332 shares in the last quarter. Bessemer Group Inc. boosted its holdings in shares of Invesco by 5,321.9% in the first quarter. Bessemer Group Inc. now owns 85,341 shares of the asset manager’s stock worth $1,416,000 after buying an additional 83,767 shares during the period. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in shares of Invesco by 684.1% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 122,986 shares of the asset manager’s stock worth $2,028,000 after buying an additional 107,302 shares during the period. Finally, M&G Plc purchased a new position in shares of Invesco in the first quarter worth approximately $8,438,000. 66.09% of the stock is owned by institutional investors.

About Senator Peters

Gary Peters (Democratic Party) is a member of the U.S. Senate from Michigan. He assumed office on January 3, 2015. His current term ends on January 3, 2027. Peters (Democratic Party) ran for re-election to the U.S. Senate to represent Michigan. He won in the general election on November 3, 2020. Peters completed Ballotpedia’s Candidate Connection survey in 2020. Click here to read the survey answers. Peters was elected to the Senate in 2014. On May 1, 2013, Peters announced he would seek election to the United States Senate seat that was being vacated in 2014 by retiring Michigan Sen. Carl Levin. Peters ran unopposed in the Democratic primary on August 5, 2014, before he defeated Terri Lynn Land (R), Jim Fulner (Libertarian), Richard Matkin (U.S. Taxpayers), and Chris Wahmhoff (Green) in the general election on November 4, 2014. Peters was previously a member of the U.S. House of Representatives representing Michigan’s 9th Congressional District from 2009 to 2013 and Michigan’s 14th Congressional District from 2013 to 2015. He also served as Commissioner of the Michigan Lottery from 2003 to 2007. As of a 2014 analysis of multiple outside rankings, Peters is an average Democratic member of Congress, meaning he will vote with the Democratic Party on the majority of bills. On January 28, 2021, Senate Majority Leader Chuck Schumer (D-N.Y.) appointed Peters to head the Democratic Senatorial Campaign Committee for the 2022 campaign cycle. Peters was born in 1958 in Pontiac, Michigan. After graduating from Alma College in 1980, Peters went on to receive his M.B.A. from the University of Detroit and his J.D. from Wayne State University in 1985 and 1989, respectively. Prior to his political career, Peters worked as a professor and investment banker. He also served in the United States Naval Reserve from 1993 to 2000 and from 2001 to 2005.

About Invesco

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.