Rhumbline Advisers increased its position in shares of Invesco Ltd. (NYSE:IVZ - Free Report) by 20.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 790,044 shares of the asset manager's stock after buying an additional 133,370 shares during the period. Rhumbline Advisers owned about 0.18% of Invesco worth $11,985,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in IVZ. Colonial Trust Co SC acquired a new position in shares of Invesco during the 4th quarter worth about $38,000. Aster Capital Management DIFC Ltd boosted its holdings in Invesco by 180.5% in 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 in the last quarter. Versant Capital Management Inc increased its stake in Invesco by 264.1% in 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. Resona Asset Management Co. Ltd. purchased a new position in Invesco in the fourth quarter valued at approximately $52,000. Finally, Assetmark Inc. raised its holdings in Invesco by 381.5% during the fourth quarter. Assetmark Inc. now owns 3,496 shares of the asset manager's stock worth $61,000 after purchasing an additional 2,770 shares in the last quarter. Institutional investors and hedge funds own 66.09% of the company's stock.
Wall Street Analysts Forecast Growth
A number of analysts have weighed in on the stock. Wells Fargo & Company cut their price objective 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. Citigroup decreased their price objective on shares of Invesco from $20.00 to $16.00 and set a "neutral" rating for the company in a research note on Monday, March 31st. Barclays raised their price objective on Invesco from $14.00 to $15.00 and gave the stock an "equal weight" rating in a report on Monday. Evercore ISI boosted their target price on Invesco from $13.00 to $15.00 and gave the company an "in-line" rating in a report on Wednesday, April 23rd. Finally, The Goldman Sachs Group raised their price target on Invesco from $16.00 to $16.25 and gave the stock a "neutral" rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $17.38.
Check Out Our Latest Stock Report on Invesco
Invesco Stock Performance
IVZ traded down $0.44 during trading on Friday, hitting $14.52. The stock had a trading volume of 5,120,727 shares, compared to its average volume of 4,368,173. The firm has a market capitalization of $6.50 billion, a P/E ratio of 12.30, 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. Invesco Ltd. has a twelve month low of $11.60 and a twelve month high of $19.55. The company's 50-day moving average price is $14.14 and its 200 day moving average price is $16.11.
Invesco (NYSE:IVZ - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The asset manager reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.05. Invesco had a net margin of 12.77% and a return on equity of 8.18%. The firm had revenue of $1.11 billion during the quarter, compared to analysts' expectations of $1.11 billion. During the same period in the prior year, the company posted $0.33 earnings per share. On average, equities research analysts forecast that Invesco Ltd. will post 1.87 EPS for the current fiscal year.
Invesco Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 3rd. Stockholders of record on Wednesday, May 14th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 5.79%. This is an increase from Invesco's previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Wednesday, May 14th. Invesco's dividend payout ratio is 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.
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