Allworth Financial LP grew its position in shares of Invesco Ltd. (NYSE:IVZ - Free Report) by 300.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 51,783 shares of the asset manager's stock after purchasing an additional 38,856 shares during the period. Allworth Financial LP's holdings in Invesco were worth $729,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in Invesco during the fourth quarter valued at $57,459,000. AQR Capital Management LLC increased its stake in Invesco by 38.5% during the fourth quarter. AQR Capital Management LLC now owns 8,145,596 shares of the asset manager's stock valued at $142,385,000 after purchasing an additional 2,264,551 shares during the last quarter. CIBC Private Wealth Group LLC increased its stake in Invesco by 2,385.0% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,711,519 shares of the asset manager's stock valued at $29,301,000 after purchasing an additional 1,642,645 shares during the last quarter. Deutsche Bank AG increased its stake in Invesco by 58.6% during the fourth quarter. Deutsche Bank AG now owns 3,334,598 shares of the asset manager's stock valued at $58,289,000 after purchasing an additional 1,232,359 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake in Invesco by 965.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 991,281 shares of the asset manager's stock valued at $17,328,000 after purchasing an additional 898,210 shares during the last quarter. Hedge funds and other institutional investors own 66.09% of the company's stock.
Invesco Price Performance
NYSE IVZ traded up $0.41 on Thursday, reaching $17.29. The company's stock had a trading volume of 5,050,231 shares, compared to its average volume of 4,497,292. Invesco Ltd. has a twelve month low of $11.60 and a twelve month high of $19.55. 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 $7.74 billion, a PE ratio of 13.83, a PEG ratio of 1.46 and a beta of 1.48. The firm's 50 day moving average is $15.42 and its two-hundred day moving average is $15.79.
Invesco (NYSE:IVZ - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The asset manager reported $0.44 earnings per share for the quarter, beating analysts' consensus estimates of $0.39 by $0.05. The company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.11 billion. Invesco had a net margin of 13.14% and a return on equity of 8.94%. During the same period in the prior year, the company earned $0.33 EPS. As a group, sell-side analysts predict that Invesco Ltd. will post 1.87 EPS for the current year.
Invesco Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 3rd. Shareholders of record on Wednesday, May 14th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 4.86%. The ex-dividend date of this dividend was Wednesday, May 14th. This is an increase from Invesco's previous quarterly dividend of $0.21. Invesco's payout ratio is presently 67.20%.
Analyst Upgrades and Downgrades
Several analysts have weighed in on the stock. The Goldman Sachs Group boosted their target price on shares of Invesco from $16.25 to $16.75 and gave the company a "neutral" rating in a research note on Friday, June 27th. Bank of America lowered their price target on shares of Invesco from $19.00 to $18.00 and set a "neutral" rating for the company in a research report on Thursday, April 3rd. TD Cowen lowered shares of Invesco from a "buy" rating to a "hold" rating and lowered their price target for the stock from $22.00 to $13.00 in a research report on Wednesday, April 9th. Royal Bank Of Canada restated a "sector perform" rating and set a $16.00 price target (up previously from $14.00) on shares of Invesco in a research report on Thursday, July 10th. Finally, Citigroup lowered their price target on shares of Invesco from $20.00 to $16.00 and set a "neutral" rating for the company in a research report on Monday, March 31st. Fifteen equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, Invesco presently has an average rating of "Hold" and a consensus price target of $17.65.
View Our Latest Report on Invesco
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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