Mackenzie Financial Corp Trims Stock Holdings 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 position in shares of Invesco Ltd. (NYSE:IVZ - Free Report) by 39.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 171,207 shares of the asset manager's stock after selling 110,220 shares during the quarter. Mackenzie Financial Corp's holdings in Invesco were worth $2,597,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. D.A. Davidson & CO. lifted its stake in shares of Invesco by 1.6% in the 1st quarter. D.A. Davidson & CO. now owns 47,462 shares of the asset manager's stock valued at $720,000 after purchasing an additional 755 shares during the period. True Wealth Design LLC increased its position in Invesco by 18.3% during the fourth quarter. True Wealth Design LLC now owns 5,183 shares of the asset manager's stock valued at $91,000 after acquiring an additional 801 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its position in Invesco by 0.5% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 153,250 shares of the asset manager's stock valued at $2,677,000 after acquiring an additional 835 shares during the last quarter. CWM LLC increased its position in Invesco by 0.5% during the first quarter. CWM LLC now owns 163,434 shares of the asset manager's stock valued at $2,479,000 after acquiring an additional 862 shares during the last quarter. Finally, Treasurer of the State of North Carolina increased its position in Invesco by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 160,661 shares of the asset manager's stock valued at $2,808,000 after acquiring an additional 1,010 shares during the last quarter. 66.09% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on IVZ. The Goldman Sachs Group boosted their target price on Invesco from $16.25 to $16.75 and gave the stock a "neutral" rating in a research report on Friday, June 27th. Morgan Stanley increased their target price on Invesco from $15.00 to $16.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 2nd. Evercore ISI raised their target price on Invesco from $13.00 to $15.00 and gave the stock an "in-line" rating in a research note on Wednesday, April 23rd. 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. Finally, Wells Fargo & Company upgraded Invesco from an "underweight" rating to an "equal weight" rating and raised their target price for the company from $14.50 to $18.00 in a research report on Friday, July 11th. Fourteen equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Invesco has an average rating of "Hold" and an average price target of $18.78.

Invesco Stock Performance

Shares of NYSE IVZ traded down $0.09 during trading hours on Wednesday, hitting $21.09. 2,907,176 shares of the stock were exchanged, compared to its average volume of 5,723,038. Invesco Ltd. has a one year low of $11.60 and a one year high of $21.85. The firm has a market capitalization of $9.44 billion, a P/E ratio of 22.68, a P/E/G ratio of 1.14 and a beta of 1.55. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.30 and a quick ratio of 1.37. The company's 50 day moving average is $17.00 and its 200 day moving average is $16.14.

Invesco (NYSE:IVZ - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The asset manager reported $0.36 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.41 by ($0.05). The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.09 billion. Invesco had a net margin of 10.68% and a return on equity of 8.60%. Invesco's revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter last year, the business earned $0.43 earnings per share. On average, research analysts expect that Invesco Ltd. will post 1.87 EPS for the current year.

Invesco Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Thursday, August 14th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend is Thursday, August 14th. Invesco's dividend payout ratio is presently 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.