Mackenzie Financial Corp Has $2.60 Million Position in Invesco Ltd. (NYSE:IVZ)

Key Points

• Mackenzie Financial Corp reduced its holdings in Invesco Ltd. by 39.2%, selling 110,220 shares, leaving it with 171,207 shares worth approximately $2.6 million.
• Invesco reported earnings per share of $0.36, which missed expectations by $0.05, despite showing a 2.2% year-over-year revenue growth.
• The asset manager recently announced a quarterly dividend of $0.21 per share, resulting in an annualized dividend yield of 4.1%.

Mackenzie Financial Corp cut its stake in shares of Invesco Ltd. (NYSE:IVZ - Free Report) by 39.2% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 171,207 shares of the asset manager's stock after selling 110,220 shares during the period. Mackenzie Financial Corp's holdings in Invesco were worth $2,597,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of IVZ. Colonial Trust Co SC bought a new position in shares of Invesco in the fourth quarter worth $38,000. Aster Capital Management DIFC Ltd grew its stake in shares of Invesco by 180.5% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 2,379 shares of the asset manager's stock worth $42,000 after purchasing an additional 1,531 shares in the last quarter. Versant Capital Management Inc grew its stake in shares of Invesco by 264.1% in the first quarter. Versant Capital Management Inc now owns 3,080 shares of the asset manager's stock worth $47,000 after purchasing an additional 2,234 shares in the last quarter. Curat Global LLC bought a new position in shares of Invesco in the first quarter worth $49,000. Finally, Resona Asset Management Co. Ltd. bought a new position in shares of Invesco in the fourth quarter worth $52,000. 66.09% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on IVZ. Morgan Stanley upped their target price on Invesco from $15.00 to $16.00 and gave the company an "equal weight" rating in a report on Wednesday, July 2nd. Evercore ISI increased their price objective on Invesco from $13.00 to $15.00 and gave the stock an "in-line" rating in a research note on Wednesday, April 23rd. Royal Bank Of Canada reissued a "sector perform" rating and issued a $16.00 price objective (up from $14.00) on shares of Invesco in a research note on Thursday, July 10th. Wells Fargo & Company raised Invesco from an "underweight" rating to an "equal weight" rating and increased their price objective for the stock from $14.50 to $18.00 in a research note on Friday, July 11th. Finally, JPMorgan Chase & Co. reduced their price objective on Invesco from $19.00 to $16.00 and set a "neutral" rating for the company in a research note on Wednesday, April 16th. Fourteen analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $18.78.

Invesco Stock Down 1.9%

Shares of Invesco stock traded down $0.39 during trading on Friday, reaching $20.62. The stock had a trading volume of 7,071,850 shares, compared to its average volume of 8,995,132. The company has a market capitalization of $9.23 billion, a price-to-earnings ratio of 22.17, a P/E/G ratio of 1.12 and a beta of 1.55. The stock has a fifty day moving average price of $16.74 and a two-hundred day moving average price of $16.08. Invesco Ltd. has a 52 week low of $11.60 and a 52 week high of $21.85. The company has a current ratio of 0.59, a quick ratio of 1.37 and a debt-to-equity ratio of 0.67.

Invesco (NYSE:IVZ - Get Free Report) last released its earnings results on Tuesday, July 22nd. The asset manager reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter in the previous year, the company posted $0.43 EPS. The business's revenue was up 2.2% on a year-over-year basis. Sell-side analysts predict that Invesco Ltd. will post 1.87 EPS for the current fiscal year.

Invesco Announces Dividend

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

About Invesco

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.