Bessemer Group Inc. lowered its stake in shares of Invesco Ltd. (NYSE:IVZ - Free Report) by 93.0% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,313 shares of the asset manager's stock after selling 83,591 shares during the quarter. Bessemer Group Inc.'s holdings in Invesco were worth $96,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its position in Invesco by 17.1% during the fourth quarter. JPMorgan Chase & Co. now owns 1,285,609 shares of the asset manager's stock valued at $22,472,000 after buying an additional 188,041 shares during the period. Proficio Capital Partners LLC bought a new position in Invesco during the fourth quarter worth about $735,000. Bank of New York Mellon Corp boosted its position in Invesco by 4.5% during the fourth quarter. Bank of New York Mellon Corp now owns 2,613,488 shares of the asset manager's stock worth $45,684,000 after purchasing an additional 113,451 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new position in Invesco during the fourth quarter worth about $424,000. Finally, Erste Asset Management GmbH boosted its position in Invesco by 21.2% during the fourth quarter. Erste Asset Management GmbH now owns 130,184 shares of the asset manager's stock worth $2,302,000 after purchasing an additional 22,788 shares during the period. Institutional investors own 66.09% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities analysts have weighed in on IVZ shares. JPMorgan Chase & Co. cut their target price on shares of Invesco from $19.00 to $16.00 and set a "neutral" rating for the company in a research report on Wednesday, April 16th. Wells Fargo & Company cut their price objective on shares of Invesco from $19.50 to $14.50 and set an "underweight" rating for the company in a research report on Tuesday, April 8th. Morgan Stanley raised their price objective on shares of Invesco from $15.00 to $16.00 and gave the company an "equal weight" rating in a research report on Wednesday. The Goldman Sachs Group raised their price objective on shares of Invesco from $16.25 to $16.75 and gave the company a "neutral" rating in a research report on Friday, June 27th. Finally, Evercore ISI raised their price objective on shares of Invesco from $13.00 to $15.00 and gave the company an "in-line" rating in a research report on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $17.48.
Read Our Latest Report on IVZ
Invesco Stock Performance
Invesco stock opened at $16.76 on Friday. The firm's fifty day moving average price is $14.85 and its 200-day moving average price is $15.82. 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 stock has a market cap of $7.50 billion, a P/E ratio of 13.41, a price-to-earnings-growth ratio of 1.94 and a beta of 1.48. Invesco Ltd. has a fifty-two week low of $11.60 and a fifty-two week high of $19.55.
Invesco (NYSE:IVZ - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The asset manager reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.05. The firm had revenue of $1.11 billion for the quarter, compared to analysts' expectations of $1.11 billion. Invesco had a net margin of 13.14% and a return on equity of 8.94%. During the same quarter last year, the company posted $0.33 EPS. On average, equities research analysts expect that Invesco Ltd. will post 1.87 earnings per share for the current fiscal year.
Invesco Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 3rd. Investors of record on Wednesday, May 14th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 5.01%. The ex-dividend date was Wednesday, May 14th. This is a boost from Invesco's previous quarterly dividend of $0.21. Invesco's dividend payout ratio (DPR) is presently 67.20%.
Invesco Company Profile
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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.
See Also
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