Wealthcare Capital Management LLC cut its holdings in shares of Invesco Ltd. (NYSE:IVZ - Free Report) by 5.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 597,545 shares of the asset manager's stock after selling 33,000 shares during the period. Invesco makes up approximately 0.9% of Wealthcare Capital Management LLC's investment portfolio, making the stock its 12th largest holding. Wealthcare Capital Management LLC owned 0.13% of Invesco worth $9,065,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Colonial Trust Co SC bought a new stake in shares of Invesco in the fourth quarter valued at about $38,000. Aster Capital Management DIFC Ltd lifted its stake in Invesco by 180.5% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 2,379 shares of the asset manager's stock valued at $42,000 after acquiring an additional 1,531 shares in the last quarter. Versant Capital Management Inc boosted its position in Invesco by 264.1% during the 1st quarter. Versant Capital Management Inc now owns 3,080 shares of the asset manager's stock worth $47,000 after acquiring an additional 2,234 shares during the last quarter. Curat Global LLC bought a new position in shares of Invesco during the 1st quarter worth approximately $49,000. Finally, Resona Asset Management Co. Ltd. acquired a new stake in shares of Invesco in the fourth quarter valued at approximately $52,000. 66.09% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several analysts recently issued reports on the company. JPMorgan Chase & Co. dropped their target price on Invesco from $19.00 to $16.00 and set a "neutral" rating on the stock in a report on Wednesday, April 16th. Evercore ISI increased their price target on shares of Invesco from $13.00 to $15.00 and gave the company an "in-line" rating in a report on Wednesday, April 23rd. The Goldman Sachs Group increased their target price on shares of Invesco from $15.00 to $15.25 and gave the stock a "neutral" rating in a research report on Wednesday, April 23rd. 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 report on Wednesday, April 9th. Finally, Citigroup reduced their price target on shares of Invesco from $20.00 to $16.00 and set a "neutral" rating on the stock in a research report on Monday, March 31st. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $17.32.
Read Our Latest Research Report on IVZ
Invesco Price Performance
Shares of NYSE IVZ traded up $0.13 during midday trading on Tuesday, reaching $14.81. 4,739,452 shares of the company were exchanged, compared to its average volume of 4,372,530. The stock's 50-day moving average price is $14.03 and its 200-day moving average price is $16.15. The stock has a market cap of $6.63 billion, a P/E ratio of 12.55, a PEG ratio of 0.98 and a beta of 1.49. The company has a quick ratio of 4.91, a current ratio of 4.91 and a debt-to-equity ratio of 0.49. Invesco Ltd. has a one year low of $11.60 and a one year high of $19.55.
Invesco (NYSE:IVZ - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The asset manager reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.05. The company had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.11 billion. Invesco had a return on equity of 8.18% and a net margin of 12.77%. During the same quarter last year, the business posted $0.33 EPS. On average, sell-side analysts anticipate that Invesco Ltd. will post 1.87 earnings per share for the current fiscal year.
Invesco Increases Dividend
The company also recently declared 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 represents a $0.84 dividend on an annualized basis and a dividend yield of 5.67%. This is a positive change from Invesco's previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Wednesday, May 14th. Invesco's dividend payout ratio (DPR) is presently 67.20%.
Invesco Company Profile
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Free Report)
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.
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