TCW Group Inc. Has $37.31 Million Stake in Invesco PLC (IVZ)
TCW Group Inc. increased its position in Invesco PLC (NYSE:IVZ) by 234.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,218,211 shares of the asset manager’s stock after buying an additional 854,394 shares during the period. TCW Group Inc. owned 0.30% of Invesco PLC worth $37,314,000 as of its most recent SEC filing.
A number of other institutional investors also recently made changes to their positions in IVZ. JPMorgan Chase & Co. boosted its stake in Invesco PLC by 2.0% in the first quarter. JPMorgan Chase & Co. now owns 10,981,317 shares of the asset manager’s stock valued at $336,358,000 after buying an additional 210,558 shares during the period. Highfields Capital Management LP acquired a new stake in Invesco PLC during the fourth quarter valued at about $280,686,000. American Century Companies Inc. boosted its stake in Invesco PLC by 28.7% in the first quarter. American Century Companies Inc. now owns 9,005,772 shares of the asset manager’s stock valued at $275,847,000 after buying an additional 2,007,736 shares during the period. Sound Shore Management Inc. CT boosted its stake in Invesco PLC by 14.8% in the first quarter. Sound Shore Management Inc. CT now owns 5,145,083 shares of the asset manager’s stock valued at $157,594,000 after buying an additional 663,336 shares during the period. Finally, Kiltearn Partners LLP acquired a new stake in Invesco PLC during the first quarter valued at about $127,513,000. Hedge funds and other institutional investors own 79.83% of the company’s stock.
Shares of Invesco PLC (NYSE:IVZ) traded up 0.09% during midday trading on Friday, hitting $34.61. The stock had a trading volume of 3,181,271 shares. The stock has a market cap of $14.08 billion, a P/E ratio of 15.75 and a beta of 1.81. The stock has a 50-day moving average price of $32.68 and a 200-day moving average price of $31.64. Invesco PLC has a 12-month low of $23.02 and a 12-month high of $34.79.
Invesco PLC (NYSE:IVZ) last released its quarterly earnings data on Thursday, April 27th. The asset manager reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.05. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.22 billion. Invesco PLC had a return on equity of 12.51% and a net margin of 18.94%. The business’s revenue for the quarter was down .2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.49 EPS. Equities analysts forecast that Invesco PLC will post $2.50 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 2nd. Stockholders of record on Friday, May 12th were issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.35%. This is an increase from Invesco PLC’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Wednesday, May 10th. Invesco PLC’s dividend payout ratio is presently 52.97%.
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Several equities research analysts have issued reports on IVZ shares. Zacks Investment Research cut Invesco PLC from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 21st. Goldman Sachs Group, Inc. (The) raised Invesco PLC from a “neutral” rating to a “conviction-buy” rating and raised their target price for the stock from $30.00 to $37.00 in a research note on Wednesday, March 15th. Jefferies Group LLC reissued a “buy” rating and set a $33.00 target price on shares of Invesco PLC in a research note on Thursday, April 6th. Credit Suisse Group reissued a “hold” rating and set a $34.00 target price on shares of Invesco PLC in a research note on Friday, April 7th. Finally, Deutsche Bank AG raised their target price on Invesco PLC from $32.00 to $33.00 and gave the stock a “hold” rating in a research note on Friday, April 28th. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $35.75.
In other news, insider Philip Taylor sold 60,000 shares of the company’s stock in a transaction on Tuesday, May 2nd. The stock was sold at an average price of $32.40, for a total transaction of $1,944,000.00. Following the completion of the sale, the insider now directly owns 146,222 shares in the company, valued at approximately $4,737,592.80. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 1.80% of the company’s stock.
Invesco PLC Company Profile
Invesco Ltd. (Invesco) is an independent investment management company. The Company provides a range of investment capabilities and outcomes, which are delivered through a set of investment vehicles, to help clients achieve their investment objectives. It has a presence in the retail and institutional markets within the investment management industry in North America; Europe, Middle East and Africa (EMEA), and Asia-Pacific.
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