Great West Life Assurance Co. Can Buys Shares of 316,453 Invesco Ltd. (NYSE:IVZ)

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 (NYSE:IVZ – Get Rating) last announced its quarterly earnings results on Tuesday, October 25th. The asset manager reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.09). The company had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.11 billion. Invesco had a net margin of 18.21% and a return on equity of 10.39%. The firm’s revenue for the quarter was down 17.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.77 EPS. Analysts forecast that Invesco Ltd. will post 1.67 earnings per share for the current year.

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. 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. Wells Fargo & Company started coverage on shares of Invesco in a research note on Wednesday, December 14th. They set an “overweight” rating and a $22.00 price objective for the company. JPMorgan Chase & Co. dropped their price objective on shares of Invesco from $20.00 to $17.50 and set a “neutral” rating for the company in a research note on Tuesday, October 18th. 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, The Goldman Sachs Group raised their target price on shares of Invesco from $18.50 to $18.70 and gave the stock a “neutral” rating in a research report on Friday, January 13th. 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.

About Invesco

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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.