Letko Brosseau & Associates Inc. Decreases Stake in Invesco Ltd. (NYSE:IVZ)

Letko Brosseau & Associates Inc. cut its position in shares of Invesco Ltd. (NYSE:IVZ) by 1.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,592,863 shares of the asset manager’s stock after selling 16,875 shares during the period. Letko Brosseau & Associates Inc.’s holdings in Invesco were worth $24,164,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its position in shares of Invesco by 1.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 20,104,545 shares of the asset manager’s stock valued at $351,430,000 after buying an additional 274,134 shares in the last quarter. Geode Capital Management LLC increased its stake in Invesco by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 10,383,206 shares of the asset manager’s stock worth $181,281,000 after acquiring an additional 134,726 shares during the last quarter. AQR Capital Management LLC raised its position in Invesco by 38.5% during the fourth quarter. AQR Capital Management LLC now owns 8,145,596 shares of the asset manager’s stock valued at $142,385,000 after purchasing an additional 2,264,551 shares during the period. Alliancebernstein L.P. raised its position in Invesco by 0.5% during the fourth quarter. Alliancebernstein L.P. now owns 6,380,191 shares of the asset manager’s stock valued at $111,526,000 after purchasing an additional 31,854 shares during the period. Finally, Northern Trust Corp lifted its stake in shares of Invesco by 15.1% in the 4th quarter. Northern Trust Corp now owns 6,361,463 shares of the asset manager’s stock valued at $111,198,000 after purchasing an additional 834,581 shares during the last quarter. Hedge funds and other institutional investors own 66.09% of the company’s stock.

Invesco Stock Performance

Shares of Invesco stock opened at $21.72 on Wednesday. The company has a current ratio of 0.59, a quick ratio of 1.37 and a debt-to-equity ratio of 0.67. The stock’s fifty day moving average price is $16.35 and its 200-day moving average price is $15.99. The firm has a market cap of $9.72 billion, a P/E ratio of 23.35, a P/E/G ratio of 1.18 and a beta of 1.48. Invesco Ltd. has a 12 month low of $11.60 and a 12 month high of $21.84.

Invesco (NYSE:IVZ) last announced its earnings results on Tuesday, July 22nd. The asset manager reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.05). The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.09 billion. Invesco had a net margin of 10.68% and a return on equity of 7.97%. The firm’s revenue was up 2.2% compared to the same quarter last year. During the same period last year, the business posted $0.43 EPS. On average, equities research analysts expect that Invesco Ltd. will post 1.87 earnings per share for the current fiscal year.

Invesco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Thursday, August 14th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.87%. The ex-dividend date of this dividend is Thursday, August 14th. Invesco’s payout ratio is currently 90.32%.

Analysts Set New Price Targets

IVZ has been the topic of several recent research reports. 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 report on Thursday, April 3rd. The Goldman Sachs Group increased their target price on shares of Invesco from $16.25 to $16.75 and gave the company a “neutral” rating in a research note on Friday, June 27th. Wells Fargo & Company upgraded shares of Invesco from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $14.50 to $18.00 in a report on Friday, July 11th. JPMorgan Chase & Co. cut their price target on shares of Invesco from $19.00 to $16.00 and set a “neutral” rating on the stock in a report on Wednesday, April 16th. Finally, Morgan Stanley increased their price objective on shares of Invesco from $15.00 to $16.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 2nd. Fourteen equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, Invesco currently has an average rating of “Hold” and an average target price of $18.78.

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.