Wealth Enhancement Advisory Services LLC lowered its stake in shares of Invesco Ltd. (NYSE:IVZ - Free Report) by 18.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 114,956 shares of the asset manager's stock after selling 26,008 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Invesco were worth $1,744,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. increased its position in shares of Invesco by 17.1% during the 4th 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 during the last quarter. Proficio Capital Partners LLC purchased a new position in Invesco during the fourth quarter worth about $735,000. 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 valued at $45,684,000 after acquiring an additional 113,451 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Invesco in the 4th quarter valued at approximately $424,000. Finally, Carrera Capital Advisors acquired a new position in shares of Invesco in the 4th quarter worth approximately $1,201,000. 66.09% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on IVZ. Morgan Stanley cut their target price 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 cut their price objective for the company from $22.00 to $13.00 in a report on Wednesday, April 9th. Citigroup decreased their target price on Invesco from $20.00 to $16.00 and set a "neutral" rating on the stock in a research note on Monday, March 31st. The Goldman Sachs Group lifted their target price on Invesco from $16.25 to $16.75 and gave the company a "neutral" rating in a research report on Friday. Finally, Barclays increased their price target on shares of Invesco from $14.00 to $15.00 and gave the stock an "equal weight" rating in a research report on Monday, June 9th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $17.42.
View Our Latest Stock Report on IVZ
Invesco Stock Up 2.5%
Shares of Invesco stock traded up $0.39 during trading on Tuesday, hitting $16.16. 4,306,137 shares of the stock were exchanged, compared to its average volume of 4,428,254. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.37 and a quick ratio of 1.37. The firm's 50-day moving average price is $14.68 and its 200 day moving average price is $15.82. The stock has a market cap of $7.23 billion, a price-to-earnings ratio of 8.62, a price-to-earnings-growth ratio of 1.85 and a beta of 1.48. Invesco Ltd. has a 12-month low of $11.60 and a 12-month high of $19.55.
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 for the quarter, beating analysts' consensus estimates of $0.39 by $0.05. The company had revenue of $1.11 billion for the quarter, compared to analysts' expectations of $1.11 billion. Invesco had a return on equity of 8.94% and a net margin of 13.14%. During the same period last year, the firm earned $0.33 earnings per share. As a group, analysts forecast that Invesco Ltd. will post 1.87 earnings per share for the current fiscal year.
Invesco Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, June 3rd. Shareholders of record on Wednesday, May 14th were paid a $0.21 dividend. This is a positive change from Invesco's previous quarterly dividend of $0.21. This represents a $0.84 annualized dividend and a yield of 5.20%. The ex-dividend date was Wednesday, May 14th. Invesco's dividend payout ratio is currently 67.20%.
Invesco Company Profile
(
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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