Reliance Trust Co. of Delaware trimmed its position in Invesco Ltd. (NYSE:IVZ) by 37.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 13,048 shares of the asset manager’s stock after selling 7,971 shares during the quarter. Reliance Trust Co. of Delaware’s holdings in Invesco were worth $298,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of IVZ. American Century Companies Inc. raised its holdings in shares of Invesco by 41.3% in the 2nd quarter. American Century Companies Inc. now owns 16,442,516 shares of the asset manager’s stock valued at $436,713,000 after purchasing an additional 4,801,968 shares during the period. Renaissance Technologies LLC bought a new stake in shares of Invesco in the 2nd quarter valued at about $46,717,000. Federated Investors Inc. PA raised its holdings in shares of Invesco by 181.4% in the 2nd quarter. Federated Investors Inc. PA now owns 2,375,762 shares of the asset manager’s stock valued at $63,100,000 after purchasing an additional 1,531,418 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of Invesco by 48.0% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 4,395,993 shares of the asset manager’s stock valued at $116,758,000 after purchasing an additional 1,424,944 shares during the period. Finally, Letko Brosseau & Associates Inc. bought a new stake in shares of Invesco in the 2nd quarter valued at about $25,336,000. 78.83% of the stock is currently owned by institutional investors.
IVZ has been the topic of a number of research analyst reports. Deutsche Bank upped their target price on shares of Invesco from $29.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, September 27th. Royal Bank of Canada reissued a “buy” rating and issued a $35.00 price target on shares of Invesco in a report on Friday, July 27th. JPMorgan Chase & Co. set a $29.00 price target on shares of Invesco and gave the company a “buy” rating in a report on Monday, September 24th. Morgan Stanley lowered their price target on shares of Invesco from $31.00 to $29.00 and set an “equal weight” rating on the stock in a report on Thursday, August 2nd. Finally, Zacks Investment Research raised shares of Invesco from a “sell” rating to a “hold” rating in a report on Monday, September 24th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $31.67.
Shares of IVZ opened at $21.98 on Friday. Invesco Ltd. has a 12 month low of $19.66 and a 12 month high of $38.43. The company has a market cap of $9.01 billion, a PE ratio of 8.14, a price-to-earnings-growth ratio of 0.93 and a beta of 1.64. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.82.
Invesco (NYSE:IVZ) last announced its earnings results on Thursday, October 18th. The asset manager reported $0.66 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.66. Invesco had a net margin of 21.66% and a return on equity of 12.25%. The company had revenue of $966.90 million for the quarter, compared to analysts’ expectations of $972.49 million. During the same period last year, the firm earned $0.71 earnings per share. The business’s revenue for the quarter was down 1.0% on a year-over-year basis. As a group, equities analysts predict that Invesco Ltd. will post 2.66 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 3rd. Stockholders of record on Tuesday, November 13th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, November 9th. This represents a $1.20 annualized dividend and a dividend yield of 5.46%. Invesco’s dividend payout ratio is presently 44.44%.
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.
Featured Article: Price to Earnings Ratio (PE), For Valuing Stocks
Want to see what other hedge funds are holding IVZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Invesco Ltd. (NYSE:IVZ).
Receive News & Ratings for Invesco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Invesco and related companies with MarketBeat.com's FREE daily email newsletter.