Entropy Technologies LP Makes New $400,000 Investment in Invesco Ltd. (NYSE:IVZ)

Entropy Technologies LP purchased a new stake in Invesco Ltd. (NYSE:IVZ) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 22,800 shares of the asset manager’s stock, valued at approximately $400,000.

A number of other hedge funds have also modified their holdings of the business. Apollon Wealth Management LLC purchased a new position in Invesco in the 3rd quarter valued at about $271,000. Versor Investments LP purchased a new position in shares of Invesco during the third quarter valued at approximately $882,000. Capital Performance Advisors LLP purchased a new position in shares of Invesco during the third quarter valued at approximately $131,000. Gold Investment Management Ltd. boosted its position in Invesco by 3.2% during the third quarter. Gold Investment Management Ltd. now owns 53,581 shares of the asset manager’s stock worth $941,000 after acquiring an additional 1,644 shares during the last quarter. Finally, Principal Financial Group Inc. grew its stake in Invesco by 3.3% in the 3rd quarter. Principal Financial Group Inc. now owns 511,850 shares of the asset manager’s stock worth $8,988,000 after acquiring an additional 16,473 shares during the period. 66.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. JPMorgan Chase & Co. increased their target price 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 increased their price objective on shares of Invesco from $16.50 to $17.50 and gave the stock an “underweight” rating in a report on Wednesday, October 23rd. Royal Bank of Canada boosted their target price on shares of Invesco from $18.00 to $19.00 and gave the company a “sector perform” rating in a report on Wednesday, October 23rd. UBS Group increased their price target on shares of Invesco from $17.50 to $19.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Finally, Barclays lifted their price target on shares of Invesco from $18.00 to $19.00 and gave the company an “equal weight” rating in a report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, Invesco has a consensus rating of “Hold” and a consensus target price of $18.63.

Invesco Stock Performance

NYSE:IVZ opened at $17.67 on Friday. The company has a 50-day moving average of $17.48 and a 200-day moving average of $16.39. The firm has a market cap of $7.94 billion, a price-to-earnings ratio of -19.21, a price-to-earnings-growth ratio of 1.02 and a beta of 1.44. The company has a current ratio of 4.91, a quick ratio of 4.91 and a debt-to-equity ratio of 0.66. Invesco Ltd. has a twelve month low of $13.53 and a twelve month high of $18.94.

Invesco (NYSE:IVZ) last announced its earnings results on Tuesday, October 22nd. The asset manager reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.11 billion. Invesco had a positive return on equity of 8.83% and a negative net margin of 3.00%. Invesco’s revenue for the quarter was down 20.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.35 earnings per share. Analysts forecast that Invesco Ltd. will post 1.69 earnings per share for the current fiscal year.

Invesco Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Thursday, November 14th will be given a dividend of $0.205 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.82 dividend on an annualized basis and a yield of 4.64%. Invesco’s payout ratio is presently -89.13%.

Invesco Profile

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.