Bank of New York Mellon Corp lessened its holdings in Invesco Ltd. (NYSE:IVZ - Free Report) by 4.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,492,717 shares of the asset manager's stock after selling 120,771 shares during the period. Bank of New York Mellon Corp owned about 0.56% of Invesco worth $37,815,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of IVZ. Colonial Trust Co SC acquired a new stake in Invesco during the fourth quarter valued at $38,000. Aster Capital Management DIFC Ltd boosted its position in Invesco by 180.5% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 2,379 shares of the asset manager's stock valued at $42,000 after purchasing an additional 1,531 shares during the last quarter. Versant Capital Management Inc boosted its position in Invesco by 264.1% during the first quarter. Versant Capital Management Inc now owns 3,080 shares of the asset manager's stock valued at $47,000 after purchasing an additional 2,234 shares during the last quarter. Curat Global LLC acquired a new stake in Invesco during the first quarter valued at $49,000. Finally, Resona Asset Management Co. Ltd. acquired a new stake in Invesco during the fourth quarter valued at $52,000. Institutional investors and hedge funds own 66.09% of the company's stock.
Invesco Stock Performance
Shares of Invesco stock traded up $2.58 during trading on Friday, reaching $19.86. The company's stock had a trading volume of 25,785,812 shares, compared to its average volume of 4,583,990. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.37 and a current ratio of 1.37. The business's fifty day moving average price is $15.42 and its 200-day moving average price is $15.79. The firm has a market cap of $8.89 billion, a price-to-earnings ratio of 15.87, a price-to-earnings-growth ratio of 1.46 and a beta of 1.48. Invesco Ltd. has a one year low of $11.60 and a one year high of $19.86.
Invesco (NYSE:IVZ - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The asset manager reported $0.44 EPS for the quarter, topping analysts' consensus estimates of $0.39 by $0.05. Invesco had a return on equity of 8.94% and a net margin of 13.14%. The business had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same period in the previous year, the company 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 company also recently declared a quarterly dividend, which was paid on Tuesday, June 3rd. Investors of record on Wednesday, May 14th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 4.23%. This is a positive change from Invesco's previous quarterly dividend of $0.21. The ex-dividend date was Wednesday, May 14th. Invesco's payout ratio is currently 67.20%.
Analyst Ratings Changes
A number of research firms recently issued reports on IVZ. Bank of America reduced their price objective on Invesco from $19.00 to $18.00 and set a "neutral" rating for the company in a research report on Thursday, April 3rd. Royal Bank Of Canada restated a "sector perform" rating and set a $16.00 target price (up from $14.00) on shares of Invesco in a report on Thursday, July 10th. Wells Fargo & Company upgraded Invesco from an "underweight" rating to an "equal weight" rating and raised their target price for the company from $14.50 to $18.00 in a report on Friday, July 11th. Morgan Stanley raised their target price on Invesco from $15.00 to $16.00 and gave the company an "equal weight" rating in a report on Wednesday, July 2nd. Finally, The Goldman Sachs Group raised their target price on Invesco from $16.25 to $16.75 and gave the company a "neutral" rating in a report on Friday, June 27th. Fifteen equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $17.65.
Check Out Our Latest Stock Report on IVZ
About Invesco
(
Free Report)
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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