Invesco Ltd. $IVZ Stock Holdings Lowered by Algert Global LLC

Key Points

• Algert Global LLC has reduced its stake in Invesco Ltd. by 5.0% in the first quarter, now owning approximately 0.11% of the company, valued at $7.3 million.
• Several hedge funds increased their positions in Invesco during the first quarter, with Principal Financial Group increasing its stake by 177.3%, owning over 1.39 million shares.
• Analysts have raised their price targets on Invesco, with Goldman Sachs increasing its target from $16.25 to $16.75 and TD Cowen recommending a buy with a new target of $25.00.

Algert Global LLC decreased its position in shares of Invesco Ltd. (NYSE:IVZ - Free Report) by 5.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 482,497 shares of the asset manager's stock after selling 25,660 shares during the period. Algert Global LLC owned about 0.11% of Invesco worth $7,319,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. New York State Teachers Retirement System increased its stake in Invesco by 8.5% during the 1st quarter. New York State Teachers Retirement System now owns 405,269 shares of the asset manager's stock worth $6,148,000 after buying an additional 31,643 shares during the period. Principal Financial Group Inc. increased its stake in Invesco by 177.3% during the 1st quarter. Principal Financial Group Inc. now owns 1,398,364 shares of the asset manager's stock worth $21,213,000 after buying an additional 894,105 shares during the period. Nisa Investment Advisors LLC increased its stake in Invesco by 25.7% during the 1st quarter. Nisa Investment Advisors LLC now owns 199,155 shares of the asset manager's stock worth $3,021,000 after buying an additional 40,665 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its stake in Invesco by 24.0% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 19,488 shares of the asset manager's stock worth $296,000 after buying an additional 3,778 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in Invesco by 0.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,452,945 shares of the asset manager's stock worth $67,551,000 after buying an additional 29,613 shares during the period. Hedge funds and other institutional investors own 66.09% of the company's stock.

Invesco Stock Performance

Shares of NYSE IVZ traded up $0.8650 during midday trading on Friday, hitting $21.5350. The company's stock had a trading volume of 3,396,187 shares, compared to its average volume of 4,975,368. Invesco Ltd. has a 1-year low of $11.60 and a 1-year high of $21.85. The firm's fifty day moving average price is $18.66 and its 200-day moving average price is $16.40. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.30 and a current ratio of 1.30. The firm has a market cap of $9.60 billion, a P/E ratio of 23.16, a P/E/G ratio of 1.17 and a beta of 1.55.

Invesco (NYSE:IVZ - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The asset manager reported $0.36 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.05). The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.09 billion. Invesco had a net margin of 10.68% and a return on equity of 8.60%. The company's quarterly revenue was up 2.2% on a year-over-year basis. During the same period last year, the firm posted $0.43 earnings per share. On average, sell-side analysts forecast that Invesco Ltd. will post 1.87 EPS for the current fiscal year.

Invesco Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Thursday, August 14th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date is Thursday, August 14th. Invesco's payout ratio is 90.32%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. TD Cowen raised shares of Invesco from a "hold" rating to a "buy" rating and lifted their price target for the stock from $17.50 to $25.00 in a research note on Monday, July 21st. Morgan Stanley raised their price objective on shares of Invesco from $15.00 to $16.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 2nd. Royal Bank Of Canada reissued a "sector perform" rating and set a $16.00 price objective (up from $14.00) on shares of Invesco in a report on Thursday, July 10th. Wells Fargo & Company raised shares of Invesco from an "underweight" rating to an "equal weight" rating and raised their price objective for the stock from $14.50 to $18.00 in a report on Friday, July 11th. Finally, Zacks Research raised shares of Invesco to a "hold" rating in a report on Tuesday, August 12th. Two analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the stock. Based on data from MarketBeat.com, Invesco has a consensus rating of "Hold" and an average target price of $18.78.

Invesco Company Profile

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.