Convergence Investment Partners LLC Purchases 41,858 Shares of Invesco Ltd. $IVZ

Convergence Investment Partners LLC lifted its position in shares of Invesco Ltd. (NYSE:IVZ) by 30.7% during the 1st quarter, HoldingsChannel reports. The fund owned 178,323 shares of the asset manager’s stock after purchasing an additional 41,858 shares during the period. Convergence Investment Partners LLC’s holdings in Invesco were worth $4,331,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of IVZ. Meeder Asset Management Inc. bought a new position in Invesco in the first quarter valued at about $46,000. Dimensional Fund Advisors LP boosted its stake in shares of Invesco by 2.9% during the first quarter. Dimensional Fund Advisors LP now owns 21,361,119 shares of the asset manager’s stock valued at $518,836,000 after purchasing an additional 596,434 shares in the last quarter. Ironwood Investment Counsel LLC grew its holdings in shares of Invesco by 6.6% during the first quarter. Ironwood Investment Counsel LLC now owns 10,238 shares of the asset manager’s stock worth $249,000 after purchasing an additional 637 shares during the last quarter. AlphaCentric Advisors LLC grew its holdings in shares of Invesco by 71.1% during the first quarter. AlphaCentric Advisors LLC now owns 11,919 shares of the asset manager’s stock worth $290,000 after purchasing an additional 4,953 shares during the last quarter. Finally, KBC Group NV increased its stake in shares of Invesco by 264.5% in the first quarter. KBC Group NV now owns 41,600 shares of the asset manager’s stock valued at $1,010,000 after buying an additional 30,186 shares during the period. Institutional investors own 66.09% of the company’s stock.

Invesco Stock Performance

NYSE:IVZ opened at $29.67 on Tuesday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.45 and a current ratio of 1.45. Invesco Ltd. has a fifty-two week low of $20.00 and a fifty-two week high of $31.02. The company has a 50 day simple moving average of $27.80 and a two-hundred day simple moving average of $26.56. The company has a market capitalization of $13.15 billion, a PE ratio of -20.18, a P/E/G ratio of 0.48 and a beta of 1.62.

Invesco (NYSE:IVZ) last issued its quarterly earnings results on Tuesday, April 28th. The asset manager reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.01). Invesco had a positive return on equity of 11.34% and a negative net margin of 6.11%.The firm had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.27 billion. During the same quarter last year, the firm posted $0.44 EPS. The firm’s revenue for the quarter was up 14.0% on a year-over-year basis. Research analysts anticipate that Invesco Ltd. will post 2.78 earnings per share for the current year.

Invesco Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 2nd. Investors of record on Friday, May 15th were issued a $0.215 dividend. The ex-dividend date was Friday, May 15th. This is a positive change from Invesco’s previous quarterly dividend of $0.21. This represents a $0.86 annualized dividend and a yield of 2.9%. Invesco’s dividend payout ratio (DPR) is presently -58.50%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on IVZ shares. Argus reiterated a “hold” rating on shares of Invesco in a research report on Wednesday, April 29th. BMO Capital Markets decreased their price target on shares of Invesco from $32.00 to $28.00 and set an “outperform” rating for the company in a research report on Friday, April 10th. TD Cowen raised their price target on shares of Invesco from $32.00 to $33.00 and gave the company a “buy” rating in a research note on Monday, June 8th. The Goldman Sachs Group increased their price objective on Invesco from $27.00 to $30.00 and gave the company a “neutral” rating in a report on Wednesday, April 29th. Finally, Morgan Stanley lifted their target price on Invesco from $29.00 to $30.00 and gave the stock an “equal weight” rating in a report on Friday. Four investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat, Invesco currently has an average rating of “Hold” and an average price target of $29.15.

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.