Cornercap Investment Counsel Inc. Purchases New Position in Invesco Ltd. (NYSE:IVZ)

Cornercap Investment Counsel Inc. purchased a new stake in shares of Invesco Ltd. (NYSE:IVZ) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 36,792 shares of the asset manager’s stock, valued at approximately $656,000.

Other hedge funds have also bought and sold shares of the company. Vident Investment Advisory LLC lifted its stake in shares of Invesco by 4.5% in the fourth quarter. Vident Investment Advisory LLC now owns 18,261 shares of the asset manager’s stock worth $329,000 after buying an additional 780 shares in the last quarter. Advisory Services Network LLC lifted its position in Invesco by 22.8% during the first quarter. Advisory Services Network LLC now owns 4,323 shares of the asset manager’s stock valued at $71,000 after purchasing an additional 804 shares during the period. Verdence Capital Advisors LLC lifted its position in Invesco by 4.4% during the third quarter. Verdence Capital Advisors LLC now owns 20,127 shares of the asset manager’s stock valued at $292,000 after purchasing an additional 843 shares during the period. Tennessee Valley Asset Management Partners lifted its position in Invesco by 2.9% during the third quarter. Tennessee Valley Asset Management Partners now owns 32,698 shares of the asset manager’s stock valued at $475,000 after purchasing an additional 933 shares during the period. Finally, CIBC Asset Management Inc lifted its position in Invesco by 1.6% during the first quarter. CIBC Asset Management Inc now owns 62,707 shares of the asset manager’s stock valued at $1,028,000 after purchasing an additional 967 shares during the period. Institutional investors own 66.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on IVZ shares. TheStreet cut shares of Invesco from a “b-” rating to a “c” rating in a report on Friday, February 23rd. Royal Bank of Canada upped their target price on shares of Invesco from $14.00 to $16.00 and gave the company a “sector perform” rating in a report on Thursday, January 18th. The Goldman Sachs Group reduced their price objective on shares of Invesco from $18.00 to $17.75 and set a “neutral” rating for the company in a research note on Thursday, April 11th. UBS Group reduced their price objective on shares of Invesco from $18.00 to $17.00 and set a “neutral” rating for the company in a research note on Monday, January 29th. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of Invesco from $21.00 to $19.50 and set an “outperform” rating for the company in a research note on Wednesday, January 24th. Nine investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $17.38.

Invesco Stock Performance

IVZ stock opened at $15.18 on Wednesday. Invesco Ltd. has a 52 week low of $12.48 and a 52 week high of $18.71. The company has a fifty day simple moving average of $15.81 and a two-hundred day simple moving average of $15.40. The company has a current ratio of 5.01, a quick ratio of 5.01 and a debt-to-equity ratio of 0.77.

Invesco (NYSE:IVZ) last released its earnings results on Tuesday, January 23rd. The asset manager reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.07. The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.11 billion. Invesco had a positive return on equity of 7.93% and a negative net margin of 1.70%. The company’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.39 EPS. Research analysts predict that Invesco Ltd. will post 1.73 EPS for the current fiscal year.

Invesco Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 4th. Shareholders of record on Friday, February 16th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 5.27%. The ex-dividend date of this dividend was Thursday, February 15th. Invesco’s payout ratio is -108.11%.

About Invesco

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.