Bridgefront Capital LLC Purchases New Stake in Invesco Ltd. (NYSE:IVZ)

Bridgefront Capital LLC purchased a new position in shares of Invesco Ltd. (NYSE:IVZ - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 18,283 shares of the asset manager's stock, valued at approximately $320,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Norges Bank acquired a new stake in shares of Invesco during the fourth quarter worth $57,459,000. AQR Capital Management LLC increased its holdings in Invesco by 38.5% in the 4th quarter. AQR Capital Management LLC now owns 8,145,596 shares of the asset manager's stock worth $142,385,000 after acquiring an additional 2,264,551 shares in the last quarter. CIBC Private Wealth Group LLC boosted its holdings in Invesco by 2,385.0% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,711,519 shares of the asset manager's stock worth $29,301,000 after buying an additional 1,642,645 shares during the last quarter. Amundi raised its stake in Invesco by 124.6% in the 4th quarter. Amundi now owns 2,653,259 shares of the asset manager's stock valued at $45,424,000 after purchasing an additional 1,472,178 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its stake in shares of Invesco by 965.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 991,281 shares of the asset manager's stock worth $17,328,000 after buying an additional 898,210 shares in the last quarter. 66.09% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Keefe, Bruyette & Woods reiterated a "market perform" rating and issued a $20.00 target price (up from $18.00) on shares of Invesco in a report on Wednesday, January 29th. Morgan Stanley lowered their price objective on Invesco from $16.00 to $15.00 and set an "equal weight" rating for the company in a research report on Thursday, April 17th. UBS Group lifted their price target on shares of Invesco from $17.00 to $21.00 and gave the stock a "neutral" rating in a research note on Monday, February 3rd. Royal Bank of Canada began coverage on shares of Invesco in a report on Tuesday, January 28th. They issued a "sector perform" rating and a $19.00 target price on the stock. Finally, Barclays lifted their target price on Invesco from $13.00 to $14.00 and gave the company an "equal weight" rating in a research note on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $17.25.

Invesco Stock Performance

Shares of Invesco stock traded up $0.07 during trading on Friday, reaching $14.82. The company's stock had a trading volume of 4,056,047 shares, compared to its average volume of 4,291,715. Invesco Ltd. has a one year low of $11.60 and a one year high of $19.55. The company has a debt-to-equity ratio of 0.49, a quick ratio of 4.91 and a current ratio of 4.91. The firm has a market cap of $6.63 billion, a price-to-earnings ratio of 12.56, a price-to-earnings-growth ratio of 0.98 and a beta of 1.47. The business's fifty day moving average price is $14.31 and its 200-day moving average price is $16.59.

Invesco (NYSE:IVZ - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The asset manager reported $0.44 earnings per share for the quarter, beating analysts' consensus estimates of $0.39 by $0.05. The business had revenue of $1.11 billion for the quarter, compared to analysts' expectations of $1.11 billion. Invesco had a net margin of 12.77% and a return on equity of 8.18%. During the same quarter in the previous year, the firm posted $0.33 earnings per share. As a group, equities research analysts predict that Invesco Ltd. will post 1.87 earnings per share for the current year.

Invesco Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 3rd. Stockholders of record on Wednesday, May 14th will be paid a $0.21 dividend. The ex-dividend date is Wednesday, May 14th. This is a boost from Invesco's previous quarterly dividend of $0.21. This represents a $0.84 dividend on an annualized basis and a dividend yield of 5.67%. Invesco's dividend payout ratio is 67.20%.

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.