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

Other large investors also recently made changes to their positions in the company. JPMorgan Chase & Co. grew its holdings in Invesco by 17.1% during the 4th quarter. JPMorgan Chase & Co. now owns 1,285,609 shares of the asset manager's stock worth $22,472,000 after acquiring an additional 188,041 shares in the last quarter. Norges Bank acquired a new position in Invesco during the 4th quarter worth $57,459,000. Nomura Asset Management Co. Ltd. grew its holdings in Invesco by 10.6% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 14,255 shares of the asset manager's stock worth $249,000 after acquiring an additional 1,367 shares in the last quarter. Pictet Asset Management Holding SA lifted its position in shares of Invesco by 3.7% in the 4th quarter. Pictet Asset Management Holding SA now owns 97,935 shares of the asset manager's stock worth $1,712,000 after buying an additional 3,508 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of Invesco by 965.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 991,281 shares of the asset manager's stock worth $17,328,000 after buying an additional 898,210 shares during the last quarter. Institutional investors and hedge funds own 66.09% of the company's stock.

Invesco Stock Down 0.3%

Shares of IVZ traded down $0.07 during mid-day trading on Wednesday, hitting $21.11. 6,504,366 shares of the company's stock were exchanged, compared to its average volume of 5,732,333. Invesco Ltd. has a 52 week low of $11.60 and a 52 week high of $21.85. 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 has a 50-day simple moving average of $17.00 and a 200 day simple moving average of $16.14. The company has a market cap of $9.45 billion, a PE ratio of 22.69, a P/E/G ratio of 1.14 and a beta of 1.55.

Invesco (NYSE:IVZ - Get Free Report) last released its earnings results 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 net margin of 10.68% and a return on equity of 8.60%. The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the prior year, the business posted $0.43 earnings per share. Invesco's quarterly revenue was up 2.2% compared to the same quarter last year. On average, research analysts forecast that Invesco Ltd. will post 1.87 earnings per share for the current fiscal year.

Invesco Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Thursday, August 14th will be issued a dividend of $0.21 per share. 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 4.0%. Invesco's dividend payout ratio (DPR) is currently 90.32%.

Analyst Upgrades and Downgrades

IVZ has been the topic of several recent research reports. The Goldman Sachs Group lifted their price objective 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. Barclays lifted their target price on shares of Invesco from $17.00 to $22.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 23rd. Wells Fargo & Company upgraded shares of Invesco from an "underweight" rating to an "equal weight" rating and upped their target price for the company from $14.50 to $18.00 in a research note on Friday, July 11th. TD Cowen raised shares of Invesco from a "hold" rating to a "buy" rating and upped their target price for the stock from $17.50 to $25.00 in a report on Monday, July 21st. Finally, Royal Bank Of Canada reiterated a "sector perform" rating and set a $16.00 price target (up previously from $14.00) on shares of Invesco in a research report on Thursday, July 10th. Fourteen analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $18.78.

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.