Invesco Ltd. (NYSE:IVZ) sees a significant drop in short-term interest

Invesco Ltd. (NYSE:IVZ – Get Rating) was the target of a significant drop in short interest during the month of August. As of August 31, there was short interest totaling 9,500,000 shares, down 13.5% from the total of 10,980,000 shares as of August 15. Based on an average daily volume of 3,980,000 shares, the day-to-cover ratio is currently 2.4 days. Approximately 2.1% of the company’s shares are sold short.

Institutional investors weigh in on Invesco

Major investors have recently been buying and selling shares of the company. MCF Advisors LLC increased its position in Invesco by 69.9% in the 4th quarter. MCF Advisors LLC now owns 1,252 shares of the asset manager worth $29,000 after purchasing an additional 515 shares during the period. CENTRAL TRUST Co bought a new position in Invesco during Q1 worth approximately $31,000. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. bought a new equity stake in Invesco in Q1 worth $32,000. Cornerstone Advisory LLC bought a new equity stake from Invesco in Q4 worth $42,000. Finally, Exchange Traded Concepts LLC bought a new equity stake in Invesco in Q2 for $32,000. 83.58% of the shares are currently held by institutional investors and hedge funds.

Performance of Invesco shares

NYSE:IVZ traded down $0.29 at midday on Friday, hitting $16.09. 27,455,941 shares of the company were traded, against an average volume of 3,959,480. Invesco has a 1-year low of $15.20 and a 1-year high of $27.03. The company has a market capitalization of $7.32 billion, a PE ratio of 6.94, a growth price-earnings ratio of 1.38 and a beta of 1.28. The company’s fifty-day simple moving average is $17.24 and its two-hundred-day simple moving average is $18.55. The company has a debt ratio of 0.71, a quick ratio of 4.31 and a current ratio of 4.31.

Invesco (NYSE:IVZ – Get Rating) last reported quarterly earnings data on Wednesday, July 27. The asset manager reported earnings per share (EPS) of $0.39 for the quarter, missing analyst consensus estimates of $0.59 per ($0.20). The company posted revenue of $1.17 billion for the quarter, compared to analysts’ estimates of $1.18 billion. Invesco had a return on equity of 12.05% and a net margin of 19.67%. The company’s quarterly revenue was down 9.9% year over year. In the same quarter of the previous year, the company had earned earnings per share of $0.78. Analysts expect Invesco to post earnings per share of 1.94 for the current fiscal year.

Invesco dividend announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 2. Shareholders of record on Friday August 12 received a dividend of $0.188 per share. The ex-dividend date was Thursday, August 11. This represents a dividend of $0.75 on an annualized basis and a yield of 4.67%. Invesco’s payout ratio is 32.33%.

Analyst upgrades and downgrades

Several research companies have published reports on IVZ. UBS Group lowered its price target on Invesco shares from $21.00 to $20.00 and placed a “buy” rating on the stock in a Monday, August 1 research report. Morgan Stanley lowered its price target on Invesco shares from $23.00 to $17.00 and set an “equal weight” rating on the stock in a Thursday, June 30 research report. JPMorgan Chase & Co. lowered its price target on Invesco shares from $22.00 to $20.00 in a Monday, July 18 research report. Keefe, Bruyette & Woods lowered their price target on Invesco shares from $21.00 to $18.00 and set a “market performance” rating on the stock in a Tuesday 28 research report June. Finally, Goldman Sachs Group lowered its price target on Invesco shares from $21.50 to $18.00 and set a “neutral” rating on the stock in a Wednesday, June 29 research report. One analyst gave the stock a sell rating, five gave the company a hold rating and three gave the company a buy rating. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $20.68.

About Investco

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Invesco Ltd. is a publicly held investment manager. The firm provides its services to retail clients, institutional clients, high net worth clients, public entities, corporations, unions, non-profit organizations, foundations, pension funds, financial institutions and funds Kings.

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