Olstein Capital Management L.P. Decreases Stock Position in Invesco Ltd. (NYSE:IVZ)

Olstein Capital Management L.P. decreased its holdings in shares of Invesco Ltd. (NYSE:IVZ - Free Report) by 19.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 380,020 shares of the asset manager's stock after selling 89,980 shares during the period. Olstein Capital Management L.P. owned approximately 0.08% of Invesco worth $5,765,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Colonial Trust Co SC acquired a new position in Invesco during the 4th quarter valued at about $38,000. Aster Capital Management DIFC Ltd grew its holdings in Invesco by 180.5% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 2,379 shares of the asset manager's stock worth $42,000 after buying an additional 1,531 shares in the last quarter. Resona Asset Management Co. Ltd. purchased a new stake in Invesco in the 4th quarter valued at $52,000. Versant Capital Management Inc lifted its stake in Invesco by 264.1% during the 1st quarter. Versant Capital Management Inc now owns 3,080 shares of the asset manager's stock valued at $47,000 after acquiring an additional 2,234 shares in the last quarter. Finally, Curat Global LLC purchased a new position in Invesco during the 1st quarter worth $49,000. 66.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on IVZ. Bank of America lowered their target price on shares of Invesco from $19.00 to $18.00 and set a "neutral" rating for the company in a report on Thursday, April 3rd. TD Cowen cut shares of Invesco from a "buy" rating to a "hold" rating and dropped their target price for the company from $22.00 to $13.00 in a research note on Wednesday, April 9th. Wells Fargo & Company cut their price target on Invesco from $19.50 to $14.50 and set an "underweight" rating for the company in a research note on Tuesday, April 8th. Evercore ISI raised their price objective on shares of Invesco from $13.00 to $15.00 and gave the stock an "in-line" rating in a report on Wednesday, April 23rd. Finally, Barclays upped their price target on Invesco from $14.00 to $15.00 and gave the company an "equal weight" rating in a research report on Monday. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $17.32.

Invesco Price Performance

Shares of IVZ traded up $0.29 during midday trading on Monday, reaching $14.68. The stock had a trading volume of 6,964,368 shares, compared to its average volume of 4,371,063. The company has a current ratio of 4.91, a quick ratio of 4.91 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $6.57 billion, a price-to-earnings ratio of 12.44, a price-to-earnings-growth ratio of 0.98 and a beta of 1.49. The company's 50-day moving average is $14.05 and its 200 day moving average is $16.17. 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 issued its earnings results on Tuesday, April 22nd. The asset manager reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.05. Invesco had a return on equity of 8.18% and a net margin of 12.77%. The business had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same quarter in the prior year, the firm earned $0.33 earnings per share. On average, equities analysts predict that Invesco Ltd. will post 1.87 EPS for the current fiscal year.

Invesco Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 3rd. Stockholders of record on Wednesday, May 14th were paid a $0.21 dividend. This is a boost from Invesco's previous quarterly dividend of $0.21. The ex-dividend date was Wednesday, May 14th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 5.72%. Invesco's dividend payout ratio is 67.20%.

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.