Cambridge Investment Research Advisors Inc. decreased its position in shares of Invesco Ltd. (NYSE:IVZ – Get Rating) by 3.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,204 shares of the asset manager’s stock after selling 1,134 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Invesco were worth $651,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of IVZ. D.A. Davidson & CO. raised its stake in Invesco by 13.4% in the 4th quarter. D.A. Davidson & CO. now owns 46,490 shares of the asset manager’s stock worth $836,000 after purchasing an additional 5,510 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in shares of Invesco by 21.4% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 442,189 shares of the asset manager’s stock valued at $7,955,000 after buying an additional 78,005 shares during the period. BlackRock Inc. grew its position in Invesco by 9.2% during the third quarter. BlackRock Inc. now owns 43,430,862 shares of the asset manager’s stock worth $595,002,000 after buying an additional 3,642,905 shares in the last quarter. Virtu Financial LLC bought a new position in Invesco during the 3rd quarter worth $151,000. Finally, Metis Global Partners LLC raised its holdings in Invesco by 54.5% in the 4th quarter. Metis Global Partners LLC now owns 19,131 shares of the asset manager’s stock valued at $344,000 after acquiring an additional 6,745 shares in the last quarter. Institutional investors and hedge funds own 69.42% of the company’s stock.
Wall Street Analyst Weigh In
Several analysts have recently issued reports on the company. Credit Suisse Group raised Invesco from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $14.50 to $15.00 in a report on Wednesday, March 29th. BMO Capital Markets raised their target price on shares of Invesco from $15.00 to $16.00 and gave the company a “market perform” rating in a report on Wednesday, January 25th. StockNews.com raised shares of Invesco from a “sell” rating to a “hold” rating in a report on Tuesday, May 16th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Invesco from $15.00 to $16.00 in a research note on Wednesday, April 26th. Finally, The Goldman Sachs Group upped their target price on Invesco from $18.00 to $18.50 and gave the stock a “neutral” rating in a research note on Friday, April 14th. Ten investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Invesco currently has a consensus rating of “Hold” and an average target price of $17.55.
Invesco Trading Down 0.9 %
Invesco (NYSE:IVZ – Get Rating) last announced its quarterly earnings results on Tuesday, April 25th. The asset manager reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. Invesco had a return on equity of 7.86% and a net margin of 14.87%. The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same period last year, the firm posted $0.56 earnings per share. The business’s revenue for the quarter was down 13.0% on a year-over-year basis. As a group, sell-side analysts expect that Invesco Ltd. will post 1.65 EPS for the current fiscal year.
Invesco Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 2nd. Shareholders of record on Tuesday, May 9th will be given a $0.20 dividend. This is a boost from Invesco’s previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a yield of 5.31%. The ex-dividend date is Monday, May 8th. Invesco’s dividend payout ratio is 57.97%.
Invesco Company Profile
Invesco Ltd. engages in the investment management business. Its product includes mutual funds, unit trusts, exchange-traded funds, closed-end funds, and retirement plans. The company was founded in December 1935 and is headquartered in Atlanta, GA.
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