Invesco Ltd. (NYSE:IVZ) Shares Sold by Covestor Ltd

Covestor Ltd lessened its holdings in Invesco Ltd. (NYSE:IVZ) by 19.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,695 shares of the asset manager’s stock after selling 899 shares during the period. Covestor Ltd’s holdings in Invesco were worth $65,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc. raised its holdings in Invesco by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 51,494,654 shares of the asset manager’s stock valued at $900,127,000 after buying an additional 419,389 shares during the period. Geode Capital Management LLC raised its stake in shares of Invesco by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 10,383,206 shares of the asset manager’s stock valued at $181,281,000 after acquiring an additional 134,726 shares during the period. Alliancebernstein L.P. lifted its holdings in shares of Invesco by 0.5% in the 4th quarter. Alliancebernstein L.P. now owns 6,380,191 shares of the asset manager’s stock worth $111,526,000 after acquiring an additional 31,854 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Invesco by 2.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,423,332 shares of the asset manager’s stock worth $77,320,000 after purchasing an additional 111,518 shares during the period. Finally, Norges Bank acquired a new stake in Invesco in the 4th quarter valued at approximately $57,459,000. 66.09% of the stock is currently owned by hedge funds and other institutional investors.

Invesco Price Performance

Shares of NYSE IVZ opened at $12.97 on Tuesday. The stock’s 50-day simple moving average is $15.90 and its 200-day simple moving average is $17.12. The company has a debt-to-equity ratio of 0.49, a quick ratio of 4.91 and a current ratio of 4.91. The firm has a market capitalization of $5.81 billion, a PE ratio of 10.99, a price-to-earnings-growth ratio of 0.98 and a beta of 1.26. Invesco Ltd. has a fifty-two week low of $11.60 and a fifty-two week high of $19.55.

Invesco (NYSE:IVZ) last issued its quarterly earnings data on Tuesday, January 28th. The asset manager reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.01. Invesco had a net margin of 12.77% and a return on equity of 8.18%. As a group, equities research analysts forecast that Invesco Ltd. will post 1.87 EPS for the current fiscal year.

Invesco Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Friday, February 14th were issued a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 6.32%. The ex-dividend date was Friday, February 14th. Invesco’s payout ratio is 69.49%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on IVZ shares. Bank of America decreased their price target on Invesco from $19.00 to $18.00 and set a “neutral” rating on the stock in a research note on Thursday, April 3rd. BMO Capital Markets raised their target price on Invesco from $19.00 to $21.00 and gave the company a “market perform” rating in a report on Wednesday, January 29th. Barclays lifted their target price on Invesco from $18.00 to $20.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 29th. Royal Bank of Canada began coverage on shares of Invesco in a research report on Tuesday, January 28th. They set a “sector perform” rating and a $19.00 price target on the stock. Finally, Evercore ISI dropped their price objective on shares of Invesco from $18.00 to $13.00 and set an “in-line” rating for the company in a report on Friday. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $17.97.

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.