QRG Capital Management Inc. Buys 14,692 Shares of Invesco Ltd. (NYSE:IVZ)

QRG Capital Management Inc. increased its stake in shares of Invesco Ltd. (NYSE:IVZ) by 14.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 117,739 shares of the asset manager’s stock after acquiring an additional 14,692 shares during the quarter. QRG Capital Management Inc.’s holdings in Invesco were worth $2,067,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Sumitomo Mitsui Trust Holdings Inc. bought a new stake in shares of Invesco in the 1st quarter valued at approximately $169,000. Norden Group LLC bought a new position in shares of Invesco in the 1st quarter valued at about $450,000. Daiwa Securities Group Inc. lifted its stake in Invesco by 22.8% in the 1st quarter. Daiwa Securities Group Inc. now owns 14,794 shares of the asset manager’s stock valued at $245,000 after purchasing an additional 2,748 shares during the last quarter. Texas Permanent School Fund Corp lifted its position in Invesco by 4.5% during the first quarter. Texas Permanent School Fund Corp now owns 103,613 shares of the asset manager’s stock worth $1,719,000 after acquiring an additional 4,491 shares during the last quarter. Finally, Duality Advisers LP lifted its position in Invesco by 323.0% during the first quarter. Duality Advisers LP now owns 95,689 shares of the asset manager’s stock worth $1,587,000 after acquiring an additional 73,065 shares during the last quarter. 66.09% of the stock is owned by institutional investors.

Invesco Stock Down 1.7 %

NYSE:IVZ opened at $18.28 on Friday. The company’s 50-day simple moving average is $17.33 and its 200-day simple moving average is $16.26. The stock has a market capitalization of $8.23 billion, a P/E ratio of -19.87, a P/E/G ratio of 1.00 and a beta of 1.44. 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 Ltd. has a fifty-two week low of $12.68 and a fifty-two week high of $18.94.

Invesco (NYSE:IVZ) last posted its earnings results on Tuesday, October 22nd. The asset manager reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.01. The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates 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 quarterly revenue was down 20.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.35 EPS. On average, equities analysts anticipate that Invesco Ltd. will post 1.69 earnings per share for the current fiscal year.

Invesco Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders 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 yield of 4.49%. Invesco’s payout ratio is currently -89.13%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on IVZ. UBS Group lifted their price target on shares of Invesco from $17.50 to $19.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. boosted their target price on shares of Invesco from $17.00 to $20.00 and gave the stock a “neutral” rating in a research note on Monday, October 21st. Barclays boosted their target price on shares of Invesco from $18.00 to $19.00 and gave the company an “equal weight” rating in a report on Wednesday, October 23rd. StockNews.com upgraded shares of Invesco from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Finally, Royal Bank of Canada upped their price objective on shares of Invesco from $18.00 to $19.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $18.46.

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.