Massachusetts Mutual Life Insuran recently announced the acquisition of new stake in Invesco Ltd (NYSE:IVZ). The institutional investor has increased its shareholding in the Financial company by 1.95% to 81.33 million shares with purchase of 1.55 million shares. This fresh investment now brings its stake to 18.13% valued currently at $1.05 billion. In addition, Dimensional Fund Advisors LP raised its holdings by 1.64 million to 11.21 million shares. And Geode Capital Management LLC has lifted its position by 0.27% or 26222.0 shares – to 9.63 million shares.
With over 6.85 million Invesco Ltd (IVZ) shares trading Monday and a closing price of $15.03 on the day, the dollar volume was approximately $102.91 million. The shares have shown a negative half year performance of -2.34% and its price on 12/04/23 gained nearly 1.14%. Currently, there are 454.80M common shares owned by the public and among those 440.15M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 17 analysts who have offered their price forecasts for IVZ have a consensus price objective of $14.82. The analysts have set the share’s price value over the next 12 months at a high of $17.00 and a low of $13.00. The average price target is -1.42% below its recent price level and a downside to the estimated low will see the stock lose -15.62% over that period. But an upside of 11.59% will see the stock hit the forecast high price target while median target price for the stock is $14.50.
Insiders at the company have transacted a total of 69 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 44 of these insider trades were purchases, accounting for 2,131,760 shares. Insider sales of the common stock occurred on 25 occasions, with total insider shares sold totaling 8,788,366 shares.
The top 3 mutual fund holders in Invesco Ltd are Vanguard Total Stock Market ETF, Vanguard Small Cap Index Fund, and Vanguard 500 Index Fund. Vanguard Total Stock Market ETF owns 13.63 million shares of the company’s stock, all valued at over $176.82 million. The company bought an additional 79019.0 shares recently to bring their total holdings to about 3.04% of the shares outstanding. Vanguard Small Cap Index Fund bought 25715.0 shares to see its total holdings expand to 11.29 million shares valued at over $146.44 million and representing 2.52% of the shares outstanding. Vanguard 500 Index Fund bought 47732.0 shares to bring its total holdings to over 10.58 million shares at a value of $137.22 million. Vanguard 500 Index Fund now owns shares totaling to 2.36% of the shares outstanding.
Shares of Invesco Ltd (NYSE: IVZ) opened at $14.73, down -$0.13 from a prior closing price of $14.86. However, the script later moved the day high at 15.07, up 1.14%. The company’s stock has a 5-day price change of 9.15% and -4.21% over the past three months. IVZ shares are trading -16.45% year to date (YTD), with the 12-month market performance down to -22.65% lower. It has a 12-month low price of $12.48 and touched a high of $20.56 over the same period. IVZ has an average intraday trading volume of 5.28 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 9.67%, 10.80%, and -3.72% respectively.
Institutional ownership of Invesco Ltd (NYSE: IVZ) shares accounts for 86.17% of the company’s 454.80M shares outstanding. Mutual fund holders own 39.38%, while other institutional holders and individual stakeholders account for 47.74% and 30.48% respectively.
It has a market capitalization of $6.76B and a beta (3y monthly) value of 1.41. The stock’s trailing 12-month PE ratio is 11.53, while the earnings-per-share (ttm) stands at $1.30. The company has a PEG of 1.36 and the debt-to-equity ratio at 0.56. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.27% over the week and 2.54% over the month.
Analysts forecast that Invesco Ltd (IVZ) will achieve an EPS of $0.39 for the current quarter, $0.35 for the next quarter and $1.61 for 2024. The lowest estimate earnings-per-share for the quarter is $0.33 while analysts give the company a high EPS estimate of $0.44. Comparatively, EPS for the current quarter was $0.39 a year ago. Earnings per share for the fiscal year are expected to decrease by -15.08%, and 12.88% over the next financial year. EPS should grow at an annualized rate of 8.46% over the next five years, compared to -11.55% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 17 brokerage firm advisors rate Invesco Ltd (IVZ) as a “Moderate Buy” at a consensus score of 2.76. Specifically, 2 Wall Street analysts polled rate the stock as a buy, while 15 of the 17 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the IVZ, a number of firms have released research notes about the stock. BMO Capital Markets stated their Market Perform rating for the stock in a research note on July 10, 2023, with the firm’s price target at $15-$21.
