Renaissance Technologies LLC Trims Holdings in Invesco Ltd. (NYSE:IVZ)

Renaissance Technologies LLC trimmed its holdings in shares of Invesco Ltd. (NYSE:IVZ - Free Report) by 91.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 45,000 shares of the asset manager's stock after selling 509,300 shares during the period. Renaissance Technologies LLC's holdings in Invesco were worth $787,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Invesco during the fourth quarter worth $57,459,000. CIBC Private Wealth Group LLC boosted its holdings in Invesco by 2,385.0% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,711,519 shares of the asset manager's stock worth $29,301,000 after acquiring an additional 1,642,645 shares during the period. Amundi grew 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 purchasing an additional 1,472,178 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of 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 acquiring an additional 898,210 shares during the last quarter. Finally, Ieq Capital LLC raised its position 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. 66.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently weighed in on IVZ. UBS Group increased their price target on Invesco from $17.00 to $21.00 and gave the stock a "neutral" rating in a research report on Monday, February 3rd. Keefe, Bruyette & Woods restated a "market perform" rating and set a $20.00 price target (up previously from $18.00) on shares of Invesco in a report on Wednesday, January 29th. TD Cowen downgraded 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 report on Wednesday, April 9th. BMO Capital Markets boosted their target price on Invesco from $19.00 to $21.00 and gave the company a "market perform" rating in a research note on Wednesday, January 29th. Finally, Argus lifted their price objective on shares of Invesco from $20.00 to $22.00 and gave the company a "buy" rating in a research note on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $17.25.

Invesco Stock Performance

Shares of NYSE IVZ traded up $0.13 during midday trading on Wednesday, hitting $14.31. 3,552,655 shares of the stock traded hands, compared to its average volume of 4,293,994. The firm has a market capitalization of $6.40 billion, a P/E ratio of 12.13, a PEG ratio of 0.98 and a beta of 1.47. Invesco Ltd. has a one year low of $11.60 and a one year high of $19.55. The company has a debt-to-equity ratio of 0.49, a quick ratio of 4.91 and a current ratio of 4.91. The firm has a 50-day moving average of $14.37 and a two-hundred day moving average of $16.64.

Invesco (NYSE:IVZ - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The asset manager reported $0.44 EPS for the quarter, topping the consensus estimate of $0.39 by $0.05. Invesco had a return on equity of 8.18% and a net margin of 12.77%. The firm had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter last year, the company earned $0.33 earnings per share. On average, equities analysts forecast that Invesco Ltd. will post 1.87 EPS for the current fiscal year.

Invesco Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 3rd. Shareholders of record on Wednesday, May 14th will be paid a $0.21 dividend. The ex-dividend date is Wednesday, May 14th. This represents a $0.84 annualized dividend and a yield of 5.87%. This is an increase from Invesco's previous quarterly dividend of $0.21. Invesco's dividend payout ratio (DPR) is presently 67.20%.

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.