21,010 Shares in Invesco Ltd. $IVZ Purchased by iA Global Asset Management Inc.

iA Global Asset Management Inc. bought a new position in Invesco Ltd. (NYSE:IVZ) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 21,010 shares of the asset manager’s stock, valued at approximately $552,000.

A number of other hedge funds also recently made changes to their positions in the company. AlphaCore Capital LLC purchased a new stake in shares of Invesco in the fourth quarter worth about $211,000. Convergence Investment Partners LLC raised its position in Invesco by 3.6% during the fourth quarter. Convergence Investment Partners LLC now owns 136,465 shares of the asset manager’s stock valued at $3,585,000 after purchasing an additional 4,781 shares during the period. Avantax Planning Partners Inc. purchased a new stake in Invesco during the fourth quarter valued at approximately $215,000. Cornerstone Wealth Management LLC raised its position in Invesco by 4.7% during the fourth quarter. Cornerstone Wealth Management LLC now owns 11,200 shares of the asset manager’s stock valued at $294,000 after purchasing an additional 500 shares during the period. Finally, Allworth Financial LP raised its position in Invesco by 1.8% during the fourth quarter. Allworth Financial LP now owns 60,788 shares of the asset manager’s stock valued at $1,597,000 after purchasing an additional 1,090 shares during the period. 66.09% of the stock is currently owned by hedge funds and other institutional investors.

Invesco Stock Up 1.1%

Shares of NYSE IVZ opened at $27.41 on Tuesday. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 1.01. The stock has a market capitalization of $12.15 billion, a PE ratio of -18.64, a price-to-earnings-growth ratio of 0.63 and a beta of 1.60. The stock’s fifty day simple moving average is $24.83 and its two-hundred day simple moving average is $25.66. Invesco Ltd. has a 12-month low of $14.10 and a 12-month high of $29.61.

Invesco (NYSE:IVZ) last announced its earnings results on Tuesday, April 28th. The asset manager reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.01). The company had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.27 billion. Invesco had a negative net margin of 6.11% and a positive return on equity of 11.34%. The firm’s revenue was up 14.0% compared to the same quarter last year. During the same period last year, the business posted $0.44 EPS. As a group, analysts expect that Invesco Ltd. will post 2.57 EPS for the current fiscal year.

Invesco Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 2nd. Shareholders of record on Friday, May 15th will be given a dividend of $0.215 per share. This is a boost from Invesco’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Friday, May 15th. This represents a $0.86 annualized dividend and a yield of 3.1%. Invesco’s payout ratio is -58.50%.

Wall Street Analysts Forecast Growth

IVZ has been the topic of a number of recent research reports. Evercore set a $27.00 price objective on Invesco in a research report on Friday, April 10th. JPMorgan Chase & Co. decreased their price objective on Invesco from $30.00 to $25.00 and set a “neutral” rating on the stock in a research report on Friday, April 24th. TD Cowen upped their target price on Invesco from $27.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. The Goldman Sachs Group upped their target price on Invesco from $27.00 to $30.00 and gave the company a “neutral” rating in a research note on Wednesday, April 29th. Finally, Argus reissued a “hold” rating on shares of Invesco in a research note on Wednesday, April 29th. Four analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat, Invesco presently has a consensus rating of “Hold” and a consensus target price of $27.29.

About Invesco

Invesco Ltd. is an independent global investment management firm headquartered in Atlanta, Georgia, and publicly traded on the New York Stock Exchange (NYSE: IVZ). With origins dating back to 1935, the company is dedicated to offering a wide array of investment strategies and solutions to both individual and institutional clients worldwide.

The firm’s product suite encompasses actively managed equity and fixed income funds, passive index funds, exchange-traded funds (ETFs), closed-end funds, and unit investment trusts, alongside specialized offerings such as private markets, real estate, and structured products.