Econ Financial Services Corp Boosts Holdings in Invesco Ltd. (NYSE:IVZ)

Econ Financial Services Corp raised its holdings in shares of Invesco Ltd. (NYSE:IVZ - Free Report) by 24.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 151,166 shares of the asset manager's stock after purchasing an additional 29,632 shares during the period. Invesco accounts for approximately 1.2% of Econ Financial Services Corp's investment portfolio, making the stock its 20th biggest holding. Econ Financial Services Corp's holdings in Invesco were worth $2,293,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. JPMorgan Chase & Co. increased its position in shares of Invesco by 17.1% during the fourth quarter. JPMorgan Chase & Co. now owns 1,285,609 shares of the asset manager's stock worth $22,472,000 after purchasing an additional 188,041 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of 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 in the last quarter. Proficio Capital Partners LLC acquired a new position in shares of Invesco during the fourth quarter worth $735,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Invesco during the fourth quarter worth $424,000. Finally, Carrera Capital Advisors acquired a new position in shares of Invesco during the fourth quarter worth $1,201,000. 66.09% of the stock is owned by institutional investors and hedge funds.

Invesco Stock Performance

Shares of NYSE IVZ traded up $0.14 during mid-day trading on Friday, hitting $15.72. The stock had a trading volume of 4,751,251 shares, compared to its average volume of 4,423,373. 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 firm has a market cap of $7.03 billion, a PE ratio of 12.57, a PEG ratio of 1.84 and a beta of 1.49. The company has a 50 day moving average of $14.61 and a two-hundred day moving average of $15.86.

Invesco (NYSE:IVZ - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The asset manager reported $0.44 EPS for the quarter, beating the consensus estimate of $0.39 by $0.05. Invesco had a net margin of 13.14% and a return on equity of 8.94%. The company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same period in the prior year, the company earned $0.33 earnings per share. Research analysts predict that Invesco Ltd. will post 1.87 EPS for the current fiscal year.

Invesco Increases Dividend

The firm also recently declared 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 5.34%. This is a positive change 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 presently 67.20%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on IVZ shares. Morgan Stanley reduced their price target on Invesco from $16.00 to $15.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 17th. TD Cowen downgraded Invesco from a "buy" rating to a "hold" rating and reduced their price target for the stock from $22.00 to $13.00 in a research report on Wednesday, April 9th. JPMorgan Chase & Co. reduced their price target on Invesco from $19.00 to $16.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 16th. Wells Fargo & Company cut their target price on Invesco from $19.50 to $14.50 and set an "underweight" rating on the stock in a research report on Tuesday, April 8th. Finally, Bank of America cut their target price on Invesco from $19.00 to $18.00 and set a "neutral" rating on the stock in a research report on Thursday, April 3rd. 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. Based on data from MarketBeat.com, Invesco currently has an average rating of "Hold" and an average target price of $17.42.

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.