Jefferies Financial Group Analysts Lift Earnings Estimates for Invesco Ltd. (NYSE:IVZ)
Invesco Ltd. (NYSE:IVZ) – Research analysts at Jefferies Financial Group upped their Q2 2019 earnings per share (EPS) estimates for shares of Invesco in a report released on Tuesday, July 9th. Jefferies Financial Group analyst D. Fannon now expects that the asset manager will post earnings of $0.58 per share for the quarter, up from their previous estimate of $0.57. Jefferies Financial Group has a “Hold” rating and a $23.00 price objective on the stock. Jefferies Financial Group also issued estimates for Invesco’s Q4 2019 earnings at $0.66 EPS, FY2019 earnings at $2.37 EPS, Q1 2020 earnings at $0.65 EPS, Q2 2020 earnings at $0.70 EPS, Q3 2020 earnings at $0.72 EPS, Q4 2020 earnings at $0.73 EPS and FY2020 earnings at $2.79 EPS.
Several other equities research analysts have also issued reports on IVZ. Edward Jones lowered shares of Invesco from a “buy” rating to a “hold” rating in a research note on Thursday, April 11th. UBS Group set a $15.00 target price on shares of Hain Celestial Group and gave the company a “sell” rating in a research note on Monday, May 13th. William Blair reaffirmed a “market perform” rating on shares of Invesco in a research note on Thursday, April 25th. Zacks Investment Research lowered shares of Horiba from a “hold” rating to a “sell” rating in a report on Wednesday, May 22nd. Finally, Wells Fargo & Co set a $162.00 target price on shares of Jazz Pharmaceuticals and gave the stock a “buy” rating in a report on Tuesday, March 19th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $22.09.
Invesco (NYSE:IVZ) last released its quarterly earnings results on Thursday, April 25th. The asset manager reported $0.56 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.03. Invesco had a return on equity of 10.48% and a net margin of 15.59%. The company had revenue of $887.10 million for the quarter, compared to analysts’ expectations of $884.93 million. During the same quarter in the previous year, the company posted $0.67 earnings per share. The business’s revenue for the quarter was down 7.4% compared to the same quarter last year.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. grew its position in shares of Invesco by 3.7% in the 1st quarter. BlackRock Inc. now owns 36,286,388 shares of the asset manager’s stock valued at $700,692,000 after acquiring an additional 1,299,090 shares during the period. FMR LLC increased its holdings in Invesco by 54.9% in the 1st quarter. FMR LLC now owns 6,527,859 shares of the asset manager’s stock valued at $126,053,000 after buying an additional 2,312,927 shares during the period. Geode Capital Management LLC grew its holdings in shares of Invesco by 13.9% during the 4th quarter. Geode Capital Management LLC now owns 5,884,507 shares of the asset manager’s stock valued at $98,348,000 after purchasing an additional 717,941 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Invesco by 42.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,047,946 shares of the asset manager’s stock worth $84,501,000 after acquiring an additional 1,507,660 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in Invesco by 4.5% during the 4th quarter. Northern Trust Corp now owns 4,433,265 shares of the asset manager’s stock worth $74,212,000 after acquiring an additional 192,150 shares during the last quarter. 76.23% of the stock is currently owned by institutional investors.
In related news, major shareholder Ltd. Invesco purchased 2,222,222 shares of the stock in a transaction dated Monday, June 10th. The stock was purchased at an average price of $4.50 per share, with a total value of $9,999,999.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Ben F. Johnson III acquired 10,000 shares of Invesco stock in a transaction that occurred on Thursday, May 2nd. The stock was acquired at an average price of $21.37 per share, with a total value of $213,700.00. Following the completion of the acquisition, the director now directly owns 54,618 shares in the company, valued at approximately $1,167,186.66. The disclosure for this purchase can be found here. Insiders bought 2,252,222 shares of company stock worth $10,619,199 in the last 90 days. Company insiders own 1.90% of the company’s stock.
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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