Apollon Wealth Management LLC Invests $271,000 in Invesco Ltd. (NYSE:IVZ)

Apollon Wealth Management LLC bought a new stake in Invesco Ltd. (NYSE:IVZ) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 15,458 shares of the asset manager’s stock, valued at approximately $271,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its holdings in shares of Invesco by 22.7% in the second quarter. Dimensional Fund Advisors LP now owns 18,084,231 shares of the asset manager’s stock valued at $270,540,000 after acquiring an additional 3,349,069 shares during the period. Swedbank AB acquired a new position in Invesco in the first quarter valued at $41,475,000. Bank of New York Mellon Corp raised its holdings in shares of Invesco by 1.2% in the second quarter. Bank of New York Mellon Corp now owns 2,489,388 shares of the asset manager’s stock valued at $37,241,000 after buying an additional 30,016 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of Invesco by 19.0% during the second quarter. AQR Capital Management LLC now owns 2,364,232 shares of the asset manager’s stock worth $35,274,000 after buying an additional 377,786 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Invesco by 4.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,497,405 shares of the asset manager’s stock worth $24,843,000 after buying an additional 58,332 shares during the last quarter. Hedge funds and other institutional investors own 66.09% of the company’s stock.

Wall Street Analyst Weigh In

IVZ has been the subject of a number of recent research reports. Morgan Stanley increased their price objective on Invesco from $16.00 to $17.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. JPMorgan Chase & Co. lifted their price objective on shares of Invesco from $17.00 to $20.00 and gave the company a “neutral” rating in a research report on Monday, October 21st. Evercore ISI upped their price objective on shares of Invesco from $19.00 to $20.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. Royal Bank of Canada lifted 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. Finally, Wells Fargo & Company increased their price target on shares of Invesco from $16.50 to $17.50 and gave the stock an “underweight” rating in a report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, eleven have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $18.63.

Invesco Stock Performance

IVZ opened at $17.47 on Tuesday. Invesco Ltd. has a 1-year low of $13.53 and a 1-year high of $18.94. The stock has a market cap of $7.85 billion, a P/E ratio of -18.99, a P/E/G ratio of 1.02 and a beta of 1.44. The stock’s 50 day simple moving average is $17.52 and its 200 day simple moving average is $16.44. The company has a debt-to-equity ratio of 0.66, a current ratio of 4.91 and a quick ratio of 4.91.

Invesco (NYSE:IVZ) last posted its earnings results on Tuesday, October 22nd. The asset manager reported $0.44 earnings per share for the quarter, beating the consensus estimate 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 was down 20.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.35 earnings per share. As a group, equities analysts anticipate that Invesco Ltd. will post 1.69 EPS for the current fiscal year.

Invesco Announces Dividend

The firm also recently announced 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. This represents a $0.82 dividend on an annualized basis and a yield of 4.69%. The ex-dividend date of this dividend is Thursday, November 14th. Invesco’s payout ratio is currently -89.13%.

Invesco Company 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.