Wealth Enhancement Advisory Services LLC Boosts Stock Position in Invesco Ltd. (NYSE:IVZ)

Wealth Enhancement Advisory Services LLC grew its holdings in shares of Invesco Ltd. (NYSE:IVZ - Free Report) by 70.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 140,964 shares of the asset manager's stock after buying an additional 58,361 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Invesco were worth $2,464,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in IVZ. Norges Bank bought a new stake in Invesco during the fourth quarter worth approximately $57,459,000. AQR Capital Management LLC increased its position in shares of Invesco by 38.5% during the 4th quarter. AQR Capital Management LLC now owns 8,145,596 shares of the asset manager's stock valued at $142,385,000 after purchasing an additional 2,264,551 shares during the last quarter. CIBC Private Wealth Group LLC increased its position in shares of Invesco by 2,385.0% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,711,519 shares of the asset manager's stock valued at $29,301,000 after purchasing an additional 1,642,645 shares during the last quarter. Amundi raised its holdings in Invesco by 124.6% during the 4th quarter. Amundi now owns 2,653,259 shares of the asset manager's stock valued at $45,424,000 after buying an additional 1,472,178 shares during the period. Finally, Deutsche Bank AG lifted its position in Invesco by 58.6% in the fourth quarter. Deutsche Bank AG now owns 3,334,598 shares of the asset manager's stock worth $58,289,000 after buying an additional 1,232,359 shares during the last quarter. 66.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

IVZ has been the topic of a number of analyst reports. Bank of America cut their price objective on shares of Invesco from $19.00 to $18.00 and set a "neutral" rating on the stock in a research report on Thursday, April 3rd. Barclays raised their price target on Invesco from $13.00 to $14.00 and gave the company an "equal weight" rating in a research note on Wednesday, April 23rd. TD Cowen lowered Invesco from a "buy" rating to a "hold" rating and lowered their target price for the stock from $22.00 to $13.00 in a report on Wednesday, April 9th. Citigroup lowered their price target on shares of Invesco from $20.00 to $16.00 and set a "neutral" rating on the stock in a report on Monday, March 31st. Finally, The Goldman Sachs Group increased their price target on Invesco from $15.00 to $15.25 and gave the company a "neutral" rating in a research note on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $17.25.

Invesco Stock Performance

Invesco stock traded up $0.14 during mid-day trading on Friday, hitting $14.39. The company had a trading volume of 6,668,630 shares, compared to its average volume of 4,355,107. The company has a market capitalization of $6.44 billion, a price-to-earnings ratio of 12.19, a P/E/G ratio of 0.98 and a beta of 1.49. Invesco Ltd. has a 12-month low of $11.60 and a 12-month high of $19.55. The company's fifty day moving average is $14.06 and its 200-day moving average is $16.21. The company has a current ratio of 4.91, a quick ratio of 4.91 and a debt-to-equity ratio of 0.49.

Invesco (NYSE:IVZ - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The asset manager reported $0.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.39 by $0.05. The firm had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.11 billion. Invesco had a net margin of 12.77% and a return on equity of 8.18%. During the same period in the prior year, the firm posted $0.33 earnings per share. Equities research analysts predict that Invesco Ltd. will post 1.87 EPS for the current year.

Invesco Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 3rd. Stockholders of record on Wednesday, May 14th were paid a dividend of $0.21 per share. This is a positive change from Invesco's previous quarterly dividend of $0.21. This represents a $0.84 annualized dividend and a dividend yield of 5.84%. The ex-dividend date was Wednesday, May 14th. Invesco's dividend payout ratio is presently 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.