Gabelli Funds LLC trimmed its position in Invesco Ltd. (NYSE:IVZ) by 5.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 175,000 shares of the asset manager’s stock after selling 10,000 shares during the period. Gabelli Funds LLC’s holdings in Invesco were worth $3,147,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Hexavest Inc. boosted its holdings in Invesco by 136.7% in the 4th quarter. Hexavest Inc. now owns 1,411 shares of the asset manager’s stock valued at $25,000 after purchasing an additional 815 shares during the period. TRUE Private Wealth Advisors bought a new position in Invesco in the 4th quarter valued at $25,000. Clear Investment Research LLC bought a new position in Invesco in the 4th quarter valued at $27,000. Evoke Wealth LLC bought a new position in Invesco in the 3rd quarter valued at $32,000. Finally, Thor Advisors LLC bought a new position in Invesco in the 3rd quarter valued at $34,000. 67.09% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have commented on IVZ shares. Evercore ISI reissued a “sell” rating and issued a $17.00 price target on shares of Invesco in a report on Thursday, January 30th. Wells Fargo & Co cut shares of Invesco from an “equal weight” rating to an “underweight” rating and set a $17.00 price objective on the stock. in a research report on Thursday, January 2nd. Bank of America lowered their price objective on shares of Invesco from $12.00 to $9.00 and set a “neutral” rating on the stock in a research report on Monday. Autonomous Res upgraded shares of Invesco from a “neutral” rating to an “outperform” rating in a research report on Thursday, February 20th. Finally, ValuEngine upgraded shares of Invesco from a “strong sell” rating to a “sell” rating in a research report on Tuesday. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $16.50.
Invesco stock opened at $8.98 on Thursday. The firm’s fifty day moving average price is $14.22 and its 200-day moving average price is $16.49. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.62 and a current ratio of 1.62. The stock has a market cap of $3.86 billion, a P/E ratio of 7.02, a price-to-earnings-growth ratio of 0.45 and a beta of 1.53. Invesco Ltd. has a fifty-two week low of $7.38 and a fifty-two week high of $22.18.
Invesco (NYSE:IVZ) last posted its quarterly earnings data on Wednesday, January 29th. The asset manager reported $0.64 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.70 by ($0.06). The company had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.23 billion. Invesco had a net margin of 10.20% and a return on equity of 12.00%. The business’s quarterly revenue was up 37.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.44 EPS. On average, analysts predict that Invesco Ltd. will post 2.35 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Thursday, February 13th were given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 13.81%. The ex-dividend date was Wednesday, February 12th. Invesco’s payout ratio is presently 48.63%.
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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