First Trust Direct Indexing L.P. Buys New Stake in Invesco Ltd. (NYSE:IVZ)

First Trust Direct Indexing L.P. acquired a new stake in Invesco Ltd. (NYSE:IVZ) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 20,092 shares of the asset manager’s stock, valued at approximately $358,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Alaska Permanent Fund Corp boosted its holdings in shares of Invesco by 0.5% in the 4th quarter. Alaska Permanent Fund Corp now owns 145,267 shares of the asset manager’s stock valued at $2,592,000 after buying an additional 767 shares in the last quarter. Verdence Capital Advisors LLC grew its holdings in shares of Invesco by 4.4% during the third quarter. Verdence Capital Advisors LLC now owns 20,127 shares of the asset manager’s stock worth $292,000 after purchasing an additional 843 shares during the last quarter. MCF Advisors LLC increased its position in shares of Invesco by 16.1% during the fourth quarter. MCF Advisors LLC now owns 6,182 shares of the asset manager’s stock worth $110,000 after purchasing an additional 855 shares in the last quarter. Pinnacle Bancorp Inc. lifted its holdings in shares of Invesco by 100.0% in the 4th quarter. Pinnacle Bancorp Inc. now owns 2,000 shares of the asset manager’s stock valued at $36,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Wright Investors Service Inc. boosted its position in shares of Invesco by 2.1% in the 3rd quarter. Wright Investors Service Inc. now owns 54,275 shares of the asset manager’s stock valued at $788,000 after purchasing an additional 1,102 shares during the period. Institutional investors and hedge funds own 66.09% of the company’s stock.

Invesco Price Performance

Invesco stock opened at $14.95 on Tuesday. The stock’s 50 day moving average price is $15.58 and its 200 day moving average price is $15.52. Invesco Ltd. has a 1-year low of $12.48 and a 1-year high of $18.71. The company has a debt-to-equity ratio of 0.77, a quick ratio of 6.89 and a current ratio of 6.89.

Invesco (NYSE:IVZ) last announced its quarterly earnings data on Tuesday, April 23rd. The asset manager reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.07). The firm had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.08 billion. Invesco had a negative net margin of 1.74% and a positive return on equity of 7.84%. The business’s quarterly revenue was up 4.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.38 EPS. Equities analysts anticipate that Invesco Ltd. will post 1.65 EPS for the current year.

Invesco Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Tuesday, May 14th will be given a $0.205 dividend. The ex-dividend date of this dividend is Monday, May 13th. This is a boost from Invesco’s previous quarterly dividend of $0.20. This represents a $0.82 annualized dividend and a dividend yield of 5.48%. Invesco’s dividend payout ratio (DPR) is currently -106.67%.

Analysts Set New Price Targets

IVZ has been the topic of several research analyst reports. Royal Bank of Canada lifted their price target on Invesco from $14.00 to $16.00 and gave the stock a “sector perform” rating in a research report on Thursday, January 18th. The Goldman Sachs Group reduced their price target on shares of Invesco from $17.75 to $16.75 and set a “neutral” rating for the company in a research report on Wednesday, April 24th. Morgan Stanley raised their price objective on shares of Invesco from $16.00 to $17.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 17th. TD Cowen reduced their price objective on Invesco from $21.00 to $19.50 and set a “buy” rating for the company in a research note on Wednesday, April 24th. Finally, BMO Capital Markets reiterated a “market perform” rating and issued a $17.00 target price (down from $18.00) on shares of Invesco in a research note on Wednesday, April 24th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $16.79.

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.