Short Interest in Invesco Ltd. (NYSE:IVZ) Decreases By 5.4%

Invesco Ltd. (NYSE:IVZ) was the recipient of a large decrease in short interest in June. As of June 15th, there was short interest totalling 7,360,000 shares, a decrease of 5.4% from the May 31st total of 7,780,000 shares. Based on an average trading volume of 4,330,000 shares, the short-interest ratio is currently 1.7 days. Approximately 1.7% of the company’s stock are sold short.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Morgan Stanley increased their price objective on Invesco from $16.00 to $17.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 17th. BMO Capital Markets reissued a “market perform” rating and issued a $17.00 price objective (down from $18.00) on shares of Invesco in a research note on Wednesday, April 24th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $17.00 price target (down from $19.00) on shares of Invesco in a research note on Wednesday, April 24th. The Goldman Sachs Group cut their price target on Invesco from $17.50 to $17.00 and set a “neutral” rating for the company in a research note on Tuesday. Finally, TD Cowen cut their price target on Invesco from $21.00 to $19.50 and set a “buy” rating for the company in a research note on Wednesday, April 24th. Ten research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $16.81.

Institutional Trading of Invesco

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IVZ. Point72 Asset Management L.P. grew its holdings in Invesco by 1,411.1% in the 4th quarter. Point72 Asset Management L.P. now owns 3,756,500 shares of the asset manager’s stock valued at $67,016,000 after buying an additional 3,507,900 shares during the last quarter. Balyasny Asset Management L.P. acquired a new stake in Invesco in the 4th quarter valued at approximately $61,795,000. Norges Bank acquired a new stake in Invesco in the 4th quarter valued at approximately $59,713,000. Dimensional Fund Advisors LP grew its holdings in Invesco by 23.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 13,798,051 shares of the asset manager’s stock valued at $246,163,000 after buying an additional 2,592,039 shares during the last quarter. Finally, Swedbank AB acquired a new stake in Invesco in the 1st quarter valued at approximately $41,475,000. Institutional investors and hedge funds own 66.09% of the company’s stock.

Invesco Stock Performance

Shares of IVZ stock traded up $0.05 during trading on Wednesday, reaching $15.05. The company had a trading volume of 1,119,054 shares, compared to its average volume of 4,458,151. The firm’s 50 day simple moving average is $15.18 and its two-hundred day simple moving average is $15.90. The company has a debt-to-equity ratio of 0.77, a current ratio of 6.89 and a quick ratio of 6.89. Invesco has a one year low of $12.48 and a one year high of $18.71. The company has a market capitalization of $6.77 billion, a PE ratio of -20.19, a PEG ratio of 1.13 and a beta of 1.47.

Invesco (NYSE:IVZ) last issued its quarterly earnings data on Tuesday, April 23rd. The asset manager reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.07). Invesco had a negative net margin of 1.74% and a positive return on equity of 7.84%. The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the previous year, the business posted $0.38 earnings per share. The firm’s revenue was up 4.0% on a year-over-year basis. Sell-side analysts forecast that Invesco will post 1.64 earnings per share for the current year.

Invesco Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 14th were issued a $0.205 dividend. The ex-dividend date of this dividend was Monday, May 13th. This represents a $0.82 dividend on an annualized basis and a yield of 5.45%. This is a positive change from Invesco’s previous quarterly dividend of $0.20. Invesco’s dividend payout ratio (DPR) is -109.33%.

Invesco Company 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.