Contravisory Investment Management Inc. Buys Shares of 46,795 Invesco Ltd. (NYSE:IVZ)

Contravisory Investment Management Inc. purchased a new stake in Invesco Ltd. (NYSE:IVZ - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 46,795 shares of the asset manager's stock, valued at approximately $710,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. D.A. Davidson & CO. raised its position in Invesco by 1.5% in the 4th quarter. D.A. Davidson & CO. now owns 46,707 shares of the asset manager's stock worth $816,000 after purchasing an additional 677 shares during the period. Avantax Advisory Services Inc. grew its holdings in Invesco by 6.8% in the fourth quarter. Avantax Advisory Services Inc. now owns 11,133 shares of the asset manager's stock worth $195,000 after purchasing an additional 710 shares during the last quarter. True Wealth Design LLC raised its stake in Invesco by 18.3% in the fourth quarter. True Wealth Design LLC now owns 5,183 shares of the asset manager's stock valued at $91,000 after buying an additional 801 shares during the last quarter. Arizona State Retirement System boosted its holdings in Invesco by 0.8% in the fourth quarter. Arizona State Retirement System now owns 97,956 shares of the asset manager's stock worth $1,712,000 after acquiring an additional 812 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co grew its stake in shares of Invesco by 0.5% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 153,250 shares of the asset manager's stock worth $2,677,000 after acquiring an additional 835 shares during the last quarter. Hedge funds and other institutional investors own 66.09% of the company's stock.

Invesco Price Performance

Shares of IVZ stock traded down $0.19 during trading hours on Thursday, reaching $14.23. The company had a trading volume of 5,911,732 shares, compared to its average volume of 4,341,131. Invesco Ltd. has a 12-month low of $11.60 and a 12-month high of $19.55. The company has a market capitalization of $6.37 billion, a price-to-earnings ratio of 12.06, a PEG ratio of 0.98 and a beta of 1.49. 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 stock has a fifty day moving average of $14.08 and a 200-day moving average of $16.23.

Invesco (NYSE:IVZ - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The asset manager reported $0.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.39 by $0.05. The business had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.11 billion. Invesco had a return on equity of 8.18% and a net margin of 12.77%. During the same period last year, the company earned $0.33 EPS. On average, equities analysts anticipate that Invesco Ltd. will post 1.87 earnings per share for the current year.

Invesco Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 3rd. Shareholders of record on Wednesday, May 14th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 5.90%. 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 presently 67.20%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. The Goldman Sachs Group increased their price objective on shares of Invesco from $15.00 to $15.25 and gave the company a "neutral" rating in a research report on Wednesday, April 23rd. Bank of America decreased their price target on shares of Invesco from $19.00 to $18.00 and set a "neutral" rating for the company in a report on Thursday, April 3rd. Citigroup dropped their price objective on shares of Invesco from $20.00 to $16.00 and set a "neutral" rating on the stock in a research note on Monday, March 31st. Wells Fargo & Company lowered their price target on shares of Invesco from $19.50 to $14.50 and set an "underweight" rating on the stock in a report on Tuesday, April 8th. Finally, Evercore ISI lifted their price objective on shares of Invesco from $13.00 to $15.00 and gave the company an "in-line" rating in a report on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $17.25.

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.