Prana Capital Management LP Makes New Investment in Invesco Ltd. (NYSE:IVZ)

Prana Capital Management LP purchased a new position in Invesco Ltd. (NYSE:IVZ - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 169,367 shares of the asset manager's stock, valued at approximately $2,961,000.

Other institutional investors also recently added to or reduced their stakes in the company. Colonial Trust Co SC purchased a new position in Invesco in the fourth quarter valued at about $38,000. Aster Capital Management DIFC Ltd grew its position in Invesco by 180.5% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 2,379 shares of the asset manager's stock worth $42,000 after acquiring an additional 1,531 shares in the last quarter. Crews Bank & Trust bought a new position in Invesco in the fourth quarter valued at $44,000. Resona Asset Management Co. Ltd. purchased a new stake in Invesco during the fourth quarter valued at about $52,000. Finally, Assetmark Inc. raised its stake in shares of Invesco by 381.5% during the fourth quarter. Assetmark Inc. now owns 3,496 shares of the asset manager's stock worth $61,000 after acquiring an additional 2,770 shares in the last quarter. Institutional investors own 66.09% of the company's stock.

Invesco Stock Down 0.6%

NYSE:IVZ traded down $0.10 during trading hours on Tuesday, reaching $15.24. 1,571,858 shares of the company traded hands, compared to its average volume of 5,266,934. 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 business's 50-day moving average price is $14.30 and its two-hundred day moving average price is $16.49. Invesco Ltd. has a 1 year low of $11.60 and a 1 year high of $19.55. The stock has a market capitalization of $6.82 billion, a P/E ratio of 12.90, a P/E/G ratio of 0.98 and a beta of 1.47.

Invesco (NYSE:IVZ - Get Free Report) last issued its quarterly earnings results 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 firm had revenue of $1.11 billion during 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 period last year, the company earned $0.33 earnings per share. Analysts predict that Invesco Ltd. will post 1.87 earnings per share for the current year.

Invesco Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 3rd. Shareholders of record on Wednesday, May 14th will be issued a $0.21 dividend. The ex-dividend date is Wednesday, May 14th. This is a boost from Invesco's previous quarterly dividend of $0.21. This represents a $0.84 annualized dividend and a yield of 5.51%. Invesco's payout ratio is 67.20%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. TD Cowen lowered shares of Invesco from a "buy" rating to a "hold" rating and reduced their target price for the company from $22.00 to $13.00 in a report on Wednesday, April 9th. Royal Bank of Canada initiated coverage on Invesco in a report on Tuesday, January 28th. They issued a "sector perform" rating and a $19.00 price objective for the company. Citigroup reduced their target price on Invesco from $20.00 to $16.00 and set a "neutral" rating on the stock in a research note on Monday, March 31st. Barclays boosted their price objective on shares of Invesco from $13.00 to $14.00 and gave the company an "equal weight" rating in a research report on Wednesday, April 23rd. Finally, BMO Capital Markets raised their target price on shares of Invesco from $19.00 to $21.00 and gave the stock a "market perform" rating in a research report on Wednesday, January 29th. 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 company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $17.25.

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.