Letko Brosseau & Associates Inc. Sells 16,875 Shares of Invesco Ltd. (NYSE:IVZ)

Key Points

• Letko Brosseau & Associates Inc. reduced its stake in Invesco Ltd. by 1.0% in the first quarter, now owning approximately 1,592,863 shares worth about $24.16 million.
• Invesco reported $0.36 earnings per share (EPS) for its latest quarter, missing expectations, with a revenue of $1.10 billion, which exceeded forecasts.
• The company announced a quarterly dividend of $0.21 per share, representing a yield of 3.87% and a payout ratio of 90.32%.

Letko Brosseau & Associates Inc. trimmed its holdings in Invesco Ltd. (NYSE:IVZ - Free Report) by 1.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,592,863 shares of the asset manager's stock after selling 16,875 shares during the period. Letko Brosseau & Associates Inc. owned about 0.36% of Invesco worth $24,164,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Federated Hermes Inc. increased its stake in Invesco by 186.6% in the 1st quarter. Federated Hermes Inc. now owns 1,969 shares of the asset manager's stock valued at $30,000 after buying an additional 1,282 shares during the last quarter. Colonial Trust Co SC purchased a new stake in Invesco in the 4th quarter valued at about $38,000. Aster Capital Management DIFC Ltd increased its stake in Invesco by 180.5% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 2,379 shares of the asset manager's stock valued at $42,000 after buying an additional 1,531 shares during the last quarter. Resona Asset Management Co. Ltd. purchased a new stake in Invesco in the 4th quarter valued at about $52,000. Finally, Versant Capital Management Inc increased its stake in Invesco by 264.1% in the 1st quarter. Versant Capital Management Inc now owns 3,080 shares of the asset manager's stock valued at $47,000 after buying an additional 2,234 shares during the last quarter. 66.09% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

IVZ has been the topic of several research reports. Evercore ISI lifted their price objective on shares of Invesco from $13.00 to $15.00 and gave the stock an "in-line" rating in a research report on Wednesday, April 23rd. Wells Fargo & Company raised shares of Invesco from an "underweight" rating to an "equal weight" rating and lifted their price objective for the stock from $14.50 to $18.00 in a research report on Friday, July 11th. TD Cowen raised shares of Invesco from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $17.50 to $25.00 in a research report on Monday, July 21st. Barclays lifted their price objective on shares of Invesco from $17.00 to $22.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 23rd. Finally, The Goldman Sachs Group boosted their price target on shares of Invesco from $16.25 to $16.75 and gave the company a "neutral" rating in a research report on Friday, June 27th. Fourteen research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $18.78.

Invesco Price Performance

NYSE:IVZ traded down $0.39 during mid-day trading on Friday, hitting $20.62. 7,071,850 shares of the stock traded hands, compared to its average volume of 8,641,537. The business's 50-day moving average price is $16.62 and its 200 day moving average price is $16.06. The company has a market cap of $9.23 billion, a PE ratio of 22.17, a price-to-earnings-growth ratio of 1.14 and a beta of 1.54. Invesco Ltd. has a 12-month low of $11.60 and a 12-month high of $21.85. The company has a quick ratio of 1.37, a current ratio of 0.59 and a debt-to-equity ratio of 0.67.

Invesco (NYSE:IVZ - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The asset manager reported $0.36 EPS for the quarter, missing analysts' consensus estimates of $0.41 by ($0.05). Invesco had a return on equity of 7.97% and a net margin of 10.68%. The company had revenue of $1.10 billion during the quarter, compared to analysts' expectations of $1.09 billion. During the same period in the prior year, the firm earned $0.43 EPS. Invesco's quarterly revenue was up 2.2% on a year-over-year basis. On average, analysts expect that Invesco Ltd. will post 1.87 EPS for the current fiscal year.

Invesco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Thursday, August 14th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.1%. Invesco's dividend payout ratio is 90.32%.

Invesco 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.