Invesco Target of Unusually Large Options Trading (NYSE:IVZ)
by Jessica Moore · The Cerbat GemInvesco Ltd. (NYSE:IVZ – Get Free Report) was the target of unusually large options trading activity on Friday. Stock investors acquired 15,933 call options on the company. This represents an increase of approximately 244% compared to the typical volume of 4,630 call options.
Insider Activity
In related news, Director Douglas J. Sharp sold 160,000 shares of the company’s stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $23.56, for a total value of $3,769,600.00. Following the completion of the transaction, the director owned 192 shares of the company’s stock, valued at approximately $4,523.52. This represents a 99.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Stephanie Butcher sold 103,192 shares of the stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $22.12, for a total value of $2,282,607.04. Following the transaction, the director owned 29,855 shares in the company, valued at $660,392.60. This represents a 77.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.21% of the company’s stock.
Hedge Funds Weigh In On Invesco
Several large investors have recently modified their holdings of the business. Capital A Wealth Management LLC grew its holdings in shares of Invesco by 4,802.9% in the second quarter. Capital A Wealth Management LLC now owns 1,667 shares of the asset manager’s stock valued at $26,000 after purchasing an additional 1,633 shares in the last quarter. CNB Bank acquired a new position in shares of Invesco in the third quarter worth $26,000. Federated Hermes Inc. increased its position in shares of Invesco by 186.6% during the first quarter. Federated Hermes Inc. now owns 1,969 shares of the asset manager’s stock worth $30,000 after acquiring an additional 1,282 shares during the period. Root Financial Partners LLC acquired a new stake in shares of Invesco in the third quarter valued at $30,000. Finally, Sentry Investment Management LLC acquired a new stake in shares of Invesco in the third quarter valued at $30,000. Institutional investors and hedge funds own 66.09% of the company’s stock.
Analysts Set New Price Targets
Several research firms have commented on IVZ. TD Cowen upgraded Invesco from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $17.50 to $25.00 in a research note on Monday, July 21st. The Goldman Sachs Group lifted their price target on Invesco from $25.50 to $26.50 and gave the stock a “neutral” rating in a research note on Wednesday, October 29th. Weiss Ratings reissued a “hold (c)” rating on shares of Invesco in a research note on Wednesday, October 8th. Citigroup raised their price objective on Invesco from $22.00 to $25.00 and gave the company a “neutral” rating in a report on Monday, September 29th. Finally, Royal Bank Of Canada lifted their target price on shares of Invesco from $23.00 to $25.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $23.70.
Read Our Latest Research Report on IVZ
Invesco Trading Down 1.3%
Shares of IVZ traded down $0.32 during midday trading on Friday, reaching $23.66. The company had a trading volume of 758,766 shares, compared to its average volume of 5,392,960. Invesco has a 1-year low of $11.60 and a 1-year high of $24.75. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.67. The firm has a 50 day simple moving average of $23.09 and a 200-day simple moving average of $19.42. The stock has a market cap of $10.55 billion, a PE ratio of 16.09, a price-to-earnings-growth ratio of 0.85 and a beta of 1.72.
Invesco (NYSE:IVZ – Get Free Report) last announced its quarterly earnings results on Tuesday, October 28th. The asset manager reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.17. Invesco had a net margin of 14.15% and a return on equity of 8.52%. The firm had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter in the previous year, the company posted $0.44 EPS. The company’s revenue was up 7.4% compared to the same quarter last year. Research analysts forecast that Invesco will post 1.87 EPS for the current fiscal year.
Invesco Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 2nd. Shareholders of record on Friday, November 14th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a $0.84 annualized dividend and a yield of 3.6%. Invesco’s dividend payout ratio (DPR) is 57.14%.
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.
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