Baird Financial Group Inc. purchased a new position in Invesco Ltd. (NYSE:IVZ) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 11,442 shares of the asset manager’s stock, valued at approximately $366,000.
Several other large investors have also added to or reduced their stakes in the stock. Cambridge Investment Research Advisors Inc. lifted its stake in shares of Invesco by 11.2% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 15,915 shares of the asset manager’s stock worth $582,000 after acquiring an additional 1,604 shares in the last quarter. Zeke Capital Advisors LLC increased its holdings in Invesco by 11.5% in the fourth quarter. Zeke Capital Advisors LLC now owns 15,543 shares of the asset manager’s stock valued at $568,000 after buying an additional 1,609 shares during the last quarter. First Allied Advisory Services Inc. increased its holdings in Invesco by 16.0% in the fourth quarter. First Allied Advisory Services Inc. now owns 12,195 shares of the asset manager’s stock valued at $443,000 after buying an additional 1,682 shares during the last quarter. Morningstar Investment Services LLC increased its holdings in Invesco by 8.6% in the first quarter. Morningstar Investment Services LLC now owns 23,515 shares of the asset manager’s stock valued at $753,000 after buying an additional 1,858 shares during the last quarter. Finally, Neuberger Berman Group LLC increased its holdings in Invesco by 3.4% in the first quarter. Neuberger Berman Group LLC now owns 56,944 shares of the asset manager’s stock valued at $1,823,000 after buying an additional 1,888 shares during the last quarter. Institutional investors and hedge funds own 79.66% of the company’s stock.
Invesco opened at $27.63 on Monday, Marketbeat reports. The company has a market cap of $11.01 billion, a PE ratio of 10.23, a P/E/G ratio of 0.94 and a beta of 1.67. Invesco Ltd. has a 52 week low of $26.37 and a 52 week high of $38.43. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.54 and a quick ratio of 1.54.
The business also recently announced a quarterly dividend, which was paid on Friday, June 1st. Stockholders of record on Friday, May 11th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, May 10th. This is a positive change from Invesco’s previous quarterly dividend of $0.29. This represents a $1.20 annualized dividend and a dividend yield of 4.34%. Invesco’s dividend payout ratio is 44.44%.
IVZ has been the subject of several research analyst reports. Morgan Stanley lowered their price objective on Invesco from $40.00 to $37.00 and set a “hold” rating for the company in a report on Tuesday, April 10th. Zacks Investment Research lowered Invesco from a “hold” rating to a “sell” rating in a report on Wednesday, April 11th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $37.00 price objective on shares of Invesco in a report on Wednesday, April 11th. Barclays lowered their price objective on Invesco from $42.00 to $40.00 and set an “overweight” rating for the company in a report on Monday, April 23rd. Finally, TheStreet lowered Invesco from a “b-” rating to a “c+” rating in a report on Tuesday, May 29th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $39.93.
In related news, major shareholder Ltd. Invesco bought 2,127,659 shares of the stock in a transaction dated Tuesday, May 22nd. The stock was bought at an average cost of $4.69 per share, with a total value of $9,978,720.71. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.80% of the stock is currently owned by corporate insiders.
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.
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