Raymond James & Associates, an investment management firm, has recently reduced its position in Invesco Ltd. (IVZ:NYE) by 8.0%, according to its filing with the Securities and Exchange Commission. While the firm sold 8,046 shares of Invesco stock during the fourth quarter, other institutional investors and hedge funds have also made changes to their stakes.
This blog post will examine Raymond James & Associates’ actions, explore institutional trading trends, analyze analyst price targets, and provide an overview of Invesco’s recent dividend announcement and market performance.
Institutional Trading Activity:
Aside from Raymond James & Associates, various institutional investors have recently adjusted their positions in IVZ. State Street Corp increased its holdings in Invesco by 58.2% during the third quarter, while Trian Fund Management L.P. boosted its position by 18.8% during the first quarter.
Vanguard Group Inc. also raised its position by 14.0% in the first quarter, and BlackRock Inc. increased its stake by 9.2% during the third quarter. Goldman Sachs Group Inc. saw a significant rise of 65.8% in its position during the first quarter. Overall, institutional investors currently own 69.42% of Invesco stock.
Analyst Price Targets:
Stock Target Advisor reports that several equities research analysts have issued reports on IVZ. Credit Suisse Group upgraded Invesco from an “underperform” to a “neutral” rating and increased their price target from $14.50 to $15.00.
Deutsche Bank also raised their target price from $15.00 to $16.00. The Goldman Sachs Group increased its target from $18.00 to $18.50 and gave the stock a “neutral” rating. Citigroup initiated coverage on Invesco, assigning a “neutral” rating with a target price of $16.00. On average, analysts have set a consensus target price of $18.19 for IVZ, with ten analyst rating it as a hold and one as a buy.
Invesco Stock Performance:
IVZ stock opened at $14.82 on Wednesday. The company has a market capitalization of $6.79 billion and a P/E ratio of 10.74. It has a 50-day simple moving average of $15.99 and a 200-day simple moving average of $17.55.
Invesco stock has a 52-week range between $13.20 and $20.56. Invesco reported earnings of $0.38 per share for the last quarter, beating analysts’ estimates by $0.02. The company had revenue of $1.42 billion during the quarter, surpassing the expected $1.10 billion. Invesco’s revenue was down 13.0% compared to the same quarter the previous year. Currently, the company is expected to post 1.65 earnings per share for the current fiscal year.
Invesco Stock Dividend Announcement:
Invesco’s recent dividend increase is worth noting, as it reflects the company’s commitment to rewarding shareholders. With a dividend yield of 5.40% and an improved payout ratio, the dividend announcement may attract income-focused investors.
The Takeaway:
While Raymond James & Associates‘ reduction in Invesco stock shares has received attention, it is crucial to consider the broader institutional activity and analyst insights when evaluating the stock. Invesco’s dividend increase and positive earnings report provide additional context for potential investors.
