abrdn plc Raises Stake in Invesco Ltd. (NYSE:IVZ)

abrdn plc raised its position in Invesco Ltd. (NYSE:IVZ) by 11.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 34,080 shares of the asset manager’s stock after acquiring an additional 3,529 shares during the quarter. abrdn plc’s holdings in Invesco were worth $595,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in IVZ. Family Firm Inc. purchased a new position in Invesco in the second quarter worth approximately $28,000. Sentry Investment Management LLC purchased a new position in Invesco in the second quarter worth approximately $30,000. Allworth Financial LP lifted its stake in Invesco by 304.0% in the third quarter. Allworth Financial LP now owns 2,400 shares of the asset manager’s stock worth $42,000 after acquiring an additional 1,806 shares during the last quarter. Fidelis Capital Partners LLC purchased a new position in Invesco in the first quarter worth approximately $52,000. Finally, Abich Financial Wealth Management LLC lifted its stake in Invesco by 50.0% in the first quarter. Abich Financial Wealth Management LLC now owns 3,631 shares of the asset manager’s stock worth $60,000 after acquiring an additional 1,210 shares during the last quarter. Hedge funds and other institutional investors own 66.09% of the company’s stock.

Invesco Stock Down 1.7 %

Shares of Invesco stock opened at $17.47 on Tuesday. The company has a market cap of $7.86 billion, a P/E ratio of -18.99, a PEG ratio of 0.99 and a beta of 1.44. The company has a debt-to-equity ratio of 0.66, a quick ratio of 5.80 and a current ratio of 4.91. Invesco Ltd. has a one year low of $12.68 and a one year high of $18.79. The firm has a fifty day moving average of $17.24 and a two-hundred day moving average of $16.19.

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

Invesco Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Thursday, November 14th will be issued 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 4.69%. Invesco’s dividend payout ratio is presently -89.13%.

Wall Street Analyst Weigh In

IVZ has been the subject of several recent analyst reports. Evercore ISI boosted their price objective on shares of Invesco from $18.00 to $19.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 23rd. UBS Group boosted their price objective on shares of Invesco from $17.50 to $19.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. boosted their price objective 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. Royal Bank of Canada upped their price target on shares of Invesco from $18.00 to $19.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 23rd. Finally, Morgan Stanley upped their price target on shares of Invesco from $16.00 to $17.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. One research 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’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $18.38.

Invesco Profile

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.