Wedmont Private Capital Buys 2,684 Shares of Invesco Ltd. (NYSE:IVZ)

Wedmont Private Capital grew its stake in Invesco Ltd. (NYSE:IVZ) by 16.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 18,998 shares of the asset manager’s stock after acquiring an additional 2,684 shares during the period. Wedmont Private Capital’s holdings in Invesco were worth $311,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of IVZ. Massachusetts Mutual Life Insurance Co. acquired a new position in Invesco in the 3rd quarter valued at about $1,428,196,000. Azora Capital LP acquired a new position in shares of Invesco in the third quarter valued at approximately $27,289,000. Marshall Wace LLP grew its position in shares of Invesco by 115.7% in the second quarter. Marshall Wace LLP now owns 1,221,187 shares of the asset manager’s stock valued at $18,269,000 after purchasing an additional 654,960 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Invesco by 131.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 910,156 shares of the asset manager’s stock worth $15,982,000 after purchasing an additional 516,622 shares during the period. Finally, Algert Global LLC lifted its holdings in Invesco by 1,207.8% during the 3rd quarter. Algert Global LLC now owns 481,270 shares of the asset manager’s stock worth $8,451,000 after purchasing an additional 444,470 shares during the last quarter. Institutional investors and hedge funds own 66.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on IVZ shares. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Invesco from $18.00 to $19.00 and gave the company a “hold” rating in a research report on Monday, November 11th. Royal Bank of Canada lifted their price objective on Invesco from $18.00 to $19.00 and gave the company a “sector perform” rating in a report on Wednesday, October 23rd. JPMorgan Chase & Co. raised their price target on Invesco from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Monday, October 21st. Wells Fargo & Company cut their price objective on shares of Invesco from $17.50 to $17.00 and set an “underweight” rating for the company in a research report on Tuesday. Finally, StockNews.com raised shares of Invesco from a “sell” rating to a “hold” rating in a report on Friday, October 18th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Invesco presently has an average rating of “Hold” and a consensus price target of $18.79.

Invesco Price Performance

IVZ stock opened at $16.84 on Friday. The stock has a market cap of $7.57 billion, a price-to-earnings ratio of -18.30, a P/E/G ratio of 0.79 and a beta of 1.43. The company has a debt-to-equity ratio of 0.66, a current ratio of 4.91 and a quick ratio of 4.91. The company has a 50 day simple moving average of $17.67 and a 200 day simple moving average of $17.11. Invesco Ltd. has a 1 year low of $14.16 and a 1 year high of $18.94.

Invesco (NYSE:IVZ) last announced its quarterly earnings results on Tuesday, October 22nd. The asset manager reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.01. Invesco had a negative net margin of 3.00% and a positive return on equity of 8.83%. The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same period in the prior year, the business earned $0.35 earnings per share. The company’s revenue for the quarter was down 20.8% compared to the same quarter last year. Research analysts anticipate that Invesco Ltd. will post 1.7 EPS for the current fiscal year.

Invesco Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 3rd. Shareholders of record on Thursday, November 14th were given a $0.205 dividend. The ex-dividend date was Thursday, November 14th. This represents a $0.82 annualized dividend and a yield of 4.87%. Invesco’s dividend payout ratio is presently -89.13%.

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.