Great West Life Assurance Co. Can bought a new stake in Invesco Ltd. (NYSE:IVZ – Get Rating) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 316,453 shares of the asset manager’s stock, valued at approximately $4,339,000.
Other hedge funds also recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC purchased a new position in Invesco in the second quarter valued at about $32,000. Sentry Investment Management LLC purchased a new position in shares of Invesco during the 2nd quarter worth approximately $36,000. First Horizon Advisors Inc. increased its stake in shares of Invesco by 264.2% during the 2nd quarter. First Horizon Advisors Inc. now owns 2,684 shares of the asset manager’s stock worth $43,000 after purchasing an additional 1,947 shares in the last quarter. Riverview Trust Co purchased a new position in shares of Invesco during the 2nd quarter worth approximately $48,000. Finally, Quadrant Capital Group LLC increased its stake in shares of Invesco by 99.7% during the 2nd quarter. Quadrant Capital Group LLC now owns 3,289 shares of the asset manager’s stock worth $53,000 after purchasing an additional 1,642 shares in the last quarter. 69.42% of the stock is owned by hedge funds and other institutional investors.
Invesco Stock Up 2.1 %
Shares of IVZ opened at $18.97 on Monday. The firm has a market cap of $8.63 billion, a PE ratio of 9.49, a price-to-earnings-growth ratio of 1.94 and a beta of 1.35. The company’s fifty day moving average is $18.84 and its two-hundred day moving average is $17.24. Invesco Ltd. has a fifty-two week low of $13.20 and a fifty-two week high of $24.31. The company has a quick ratio of 4.43, a current ratio of 4.43 and a debt-to-equity ratio of 0.70.
Invesco Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, December 2nd. Stockholders of record on Friday, November 11th were paid a $0.188 dividend. This represents a $0.75 dividend on an annualized basis and a dividend yield of 3.96%. The ex-dividend date was Wednesday, November 9th. Invesco’s dividend payout ratio is presently 37.50%.
Analysts Set New Price Targets
A number of research analysts have recently weighed in on IVZ shares. The Goldman Sachs Group raised their price objective on shares of Invesco from $18.50 to $18.70 and gave the stock a “neutral” rating in a research note on Friday, January 13th. TheStreet raised shares of Invesco from a “c+” rating to a “b-” rating in a research note on Friday, November 18th. Credit Suisse Group cut shares of Invesco from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $13.00 to $11.50 in a research note on Wednesday, October 26th. Morgan Stanley raised their target price on shares of Invesco from $14.00 to $17.00 and gave the stock an “equal weight” rating in a research report on Thursday. Finally, Wells Fargo & Company started coverage on shares of Invesco in a research report on Wednesday, December 14th. They set an “overweight” rating and a $22.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Invesco has a consensus rating of “Hold” and a consensus target price of $19.86.
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.
- Get a free copy of the StockNews.com research report on Invesco (IVZ)
- CVS Health is Growing into an Integrated Healthcare Organization
- Is C3.ai Stock a ChatGPT Artificial Intelligence Play?
- NVIDIA Outlook Improving: Watchlist Candidate for 2023
- Which Wireless Stock Should You Buy in 2023?
- Is Virgin Galactic Stock Preparing for Lift-Off?
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.