Renaissance Technologies LLC Has $787,000 Stock Holdings in Invesco Ltd. (NYSE:IVZ)

Renaissance Technologies LLC reduced its stake in shares of Invesco Ltd. (NYSE:IVZ - Free Report) by 91.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 45,000 shares of the asset manager's stock after selling 509,300 shares during the quarter. Renaissance Technologies LLC's holdings in Invesco were worth $787,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Norges Bank acquired a new position in shares of Invesco in the 4th quarter valued at approximately $57,459,000. CIBC Private Wealth Group LLC increased its stake in Invesco by 2,385.0% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,711,519 shares of the asset manager's stock valued at $29,301,000 after acquiring an additional 1,642,645 shares during the last quarter. Amundi raised its position in Invesco by 124.6% during the fourth quarter. Amundi now owns 2,653,259 shares of the asset manager's stock valued at $45,424,000 after purchasing an additional 1,472,178 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in Invesco by 965.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 991,281 shares of the asset manager's stock worth $17,328,000 after purchasing an additional 898,210 shares during the last quarter. Finally, Ieq Capital LLC boosted its holdings in shares of Invesco by 635.9% in the 4th quarter. Ieq Capital LLC now owns 490,242 shares of the asset manager's stock valued at $8,569,000 after purchasing an additional 423,621 shares in the last quarter. Institutional investors own 66.09% of the company's stock.

Invesco Price Performance

Invesco stock opened at $13.92 on Friday. The firm has a market cap of $6.23 billion, a P/E ratio of 11.80, a P/E/G ratio of 0.98 and a beta of 1.26. The stock's 50 day moving average is $14.61 and its 200 day moving average is $16.75. The company has a debt-to-equity ratio of 0.49, a current ratio of 4.91 and a quick ratio of 4.91. 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 issued 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. Invesco had a net margin of 12.77% and a return on equity of 8.18%. The firm had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the previous year, the company earned $0.33 EPS. As a group, research analysts expect that Invesco Ltd. will post 1.87 EPS for the current year.

Invesco Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 3rd. Shareholders of record on Wednesday, May 14th will be issued a dividend of $0.21 per share. This is an increase from Invesco's previous quarterly dividend of $0.21. This represents a $0.84 dividend on an annualized basis and a yield of 6.03%. The ex-dividend date is Wednesday, May 14th. Invesco's dividend payout ratio (DPR) is presently 67.20%.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Bank of America dropped their price objective on Invesco from $19.00 to $18.00 and set a "neutral" rating for the company in a research report on Thursday, April 3rd. TD Cowen cut shares of Invesco from a "buy" rating to a "hold" rating and dropped their target price for the stock from $22.00 to $13.00 in a report on Wednesday, April 9th. Argus lifted their price target on shares of Invesco from $20.00 to $22.00 and gave the company a "buy" rating in a report on Wednesday, January 29th. Evercore ISI increased their price objective on shares of Invesco from $13.00 to $15.00 and gave the company an "in-line" rating in a research note on Wednesday, April 23rd. Finally, Royal Bank of Canada assumed coverage on shares of Invesco in a research note on Tuesday, January 28th. They set a "sector perform" rating and a $19.00 target price on the stock. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Invesco currently has a consensus rating of "Hold" and an average 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.

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