Pacer Advisors Inc. Sells 13,304 Shares of Invesco Ltd. (NYSE:IVZ)

Key Points

• Pacer Advisors Inc. reduced its position in Invesco Ltd. by 36.8% in the first quarter, now holding 22,895 shares valued at $347,000 after selling 13,304 shares.
• Analyst ratings have been mixed, with JPMorgan cutting their target price from $19.00 to $16.00, while Barclays raised theirs from $17.00 to $22.00.
• Invesco recently declared a quarterly dividend of $0.21 per share, reflecting an annualized yield of 4.1% based on current payouts.

Pacer Advisors Inc. decreased its position in Invesco Ltd. (NYSE:IVZ - Free Report) by 36.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,895 shares of the asset manager's stock after selling 13,304 shares during the quarter. Pacer Advisors Inc.'s holdings in Invesco were worth $347,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in IVZ. Colonial Trust Co SC purchased a new stake in Invesco during the fourth quarter valued at about $38,000. Aster Capital Management DIFC Ltd lifted 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 valued at $42,000 after purchasing an additional 1,531 shares during the last quarter. Resona Asset Management Co. Ltd. purchased a new stake in Invesco during the fourth quarter valued at about $52,000. Versant Capital Management Inc lifted its holdings in Invesco by 264.1% during the first quarter. Versant Capital Management Inc now owns 3,080 shares of the asset manager's stock valued at $47,000 after purchasing an additional 2,234 shares during the last quarter. Finally, Curat Global LLC purchased a new stake in Invesco during the first quarter valued at about $49,000. Institutional investors own 66.09% of the company's stock.

Invesco Price Performance

Shares of IVZ stock traded down $0.39 during trading on Friday, hitting $20.62. The company had a trading volume of 7,071,850 shares, compared to its average volume of 8,995,132. The company has a quick ratio of 1.37, a current ratio of 0.59 and a debt-to-equity ratio of 0.67. The stock's 50-day moving average is $16.74 and its two-hundred day moving average is $16.08. The stock has a market capitalization of $9.23 billion, a price-to-earnings ratio of 22.17, a price-to-earnings-growth ratio of 1.12 and a beta of 1.55. Invesco Ltd. has a 52 week low of $11.60 and a 52 week high of $21.85.

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 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 during the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter last year, the company posted $0.43 earnings per share. The firm's revenue for the quarter was up 2.2% on a year-over-year basis. As a group, analysts predict that Invesco Ltd. will post 1.87 EPS for the current fiscal year.

Invesco Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Thursday, August 14th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date is Thursday, August 14th. Invesco's dividend payout ratio (DPR) is presently 90.32%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on IVZ shares. TD Cowen raised shares of Invesco from a "hold" rating to a "buy" rating and upped their price objective for the company from $17.50 to $25.00 in a report on Monday, July 21st. Morgan Stanley upped their price objective on shares of Invesco from $15.00 to $16.00 and gave the company an "equal weight" rating in a report on Wednesday, July 2nd. Wells Fargo & Company raised shares of Invesco from an "underweight" rating to an "equal weight" rating and increased their price target for the stock from $14.50 to $18.00 in a report on Friday, July 11th. Royal Bank Of Canada reissued a "sector perform" rating and issued a $16.00 price target (up from $14.00) on shares of Invesco in a report on Thursday, July 10th. Finally, Barclays increased their price target on shares of Invesco from $17.00 to $22.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 23rd. Fourteen analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Invesco presently has an average rating of "Hold" and a consensus target price of $18.78.

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.